Friday, August 31, 2007 Constraints to trade dev't in Bimp-Eaga identified
THE private sector umbrella organization of the Bimp-Eaga, the Bimp-Eaga Business Council (BEBC) identified constraints to business development in the Eaga regions.
The constraints to business development are the lack of infrastructure facilities, lack of air and shipping services, and the lack of access to financing.
Antonio Santos, BEBC chair, said that an effective Customs Immigration Quarantine Security (CIQS) system facility is needed in every region to improve cross-border tourism, investment, and trade.
"There is also a need to reduce costs of inputs for production and processing particularly those imported from within or outside Eaga," he said, adding that the reduction of business transaction costs at ports, and the reduction of transport costs to market destinations within and outside Eaga are also needed to address the issues concerning the border-to border links in the Bimp-Eaga.
He said one of the challenges in the attainment of better cross-border trade, investment, and tourism, is also the lack of access to business information, infrastructure support, and logistics system.
Santos added that the need to promote regular consultation and partnership with traders and port users in order to improve trade facilitation measures is very important.
BEBC, formerly known as the East Asean Business Council, provides valuable insights to pave the way for strategic policy recommendations, as well as firm-up the identification of programs and projects of the Bimp-Eaga clusters, which are the transport, infrastructure, and ICT development; the natural resource development; joint tourism development; and the SME development.
Among the four member-countries in the Bimp, Philippines was the chair of the BEBC since March 2006. BEBC has spearheaded various initiatives aimed to promote the trade, investment, and tourism opportunities of the sub-region with our neighbors in the Asean and the rest of the world. JGRS
