TRADE transaction costs will drop by 10 percent starting 2020 and contribute to a highly integrated and cohesive Asean economy, according to the Chairman’s Statement issued by the Association of Southeast Asian Nations on Sunday after the conclusion of the 30th Asean Summit the day before.

Citing the recent 23rd Asean Economic Ministers’ (AEM) Retreat in March, chaired by Trade Secretary Ramon Lopez, the statement noted the target will contribute to the goals of the Asean Economic Community (AEC) Blueprint 2025.