Trade and Investment Facilitation 13. The Meeting commended the Working Committee on Capital Account Liberalisation (WC-CAL) for the good progress in strengthening policy dialogue and information exchange mechanism on capital flows statistics and measures among AMS. The Meeting also noted the completion of the ASEAN WC-CAL Policy Note on Capital Account Safeguard Measures Recent Experiences, which was conveyed to the IMF as input to its ongoing work on the Integrated Policy Framework (IPF). Additionally, the Meeting looks forward to the stocktake of AMS’ sustainable finance development policies and initiatives to promote capital flows and investments for sustainable finance-related activities domestically and within ASEAN. 14. The Meeting welcomed the progress of the ASEAN Forum on Taxation (AFT)’s initiative on the network of bilateral avoidance of double taxation agreements (DTAs) with an additional signing between Brunei Darussalam and Philippines, as well as ratification of two (2) DTAs between Cambodia and Malaysia, and Cambodia and Indonesia, bringing the signed and ratified DTAs to 72. The Meeting also commended Malaysia for completing all the DTAs with AMS. The Meeting encourages the AFT to work towards the completion and improvement of the bilateral DTA networks among AMS, under the Strategic Action Plan 2016-2025 for taxation cooperation. In addition, the Meeting encourages the remaining AMS to consider joining the Global Forum on Transparency and Exchange of Information for Tax Purposes and the Inclusive Framework on Base Erosion and Profit shifting, and implement the internationally agreed standards. The Meeting also encourage the AFT to study the utilisation of digitalisation as a means to increase the efficiency of revenue collection. 15. The Meeting took note of the ASEAN Withholding Tax (WHT) Study’s recommendation to make WHT information and documentation available to taxpayers in electronic format accessible from a single portal, and the ASEAN initiative for such information, alongside the Standardised Certificate of Residence (CoR) in ASEAN to be available in a centralised portal on the ASEAN Finance Cooperation Web Portal (AFCWP). The Meeting encouraged the AFT to further enhance these informations in the portal where appropriate to further facilitate the administrative efficiency of cross-border transactions, as well as promoting regional competitiveness in ASEAN. The Meeting looks forward to the AFT further discussing and developing an Action Plan on the other recommendations of the ASEAN WHT Study. 16. The Meeting is also pleased with the ASEAN Customs continued progress in their implementation of the Strategic Plans of Customs Development (SPCDs) 2021- 2025 programme and initiatives particularly towards the realisation of the first characteristic identified in ASEAN Economic Community Blueprint 2025 that includes the (i) Implementation of the Authorized Economic Operator (AEO) and the ASEAN AEO Mutual Recognition Arrangement (AAMRA) where seven (7) AMS have already implemented their national AEO programmes, (ii) ASEAN Customs Transit System (ACTS) full live operations in six (6) Participating Member Countries (PMC), and (iii) continuing cooperation with Dialogue Partners to exchange intelligence information in a timely manner and leveraging technology to fight illicit trade. The Meeting looks forward to the adoption of the Joint Action Plan on the AAMRA at the ASEAN Customs Director-Generals Meeting in Singapore in June 2022. 17. The Meeting also commended the progress of the ASEAN Single Window (ASW), particularly in the implementation of the ASEAN Customs Declaration Document (ACDD) with six (6) AMS having 3/7