Sunday, November 12, 2006
Asean moves towards creation of single market
THE Association of Southeast Asian Nations (Asean), a group comprising the countries of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, are quickening the pace to create a common market in key sectors, by 2015 at the latest.
Donald Dee, president of the Philippine Chamber of Commerce and Industry (PCCI), said Asean leaders have targeted 11 sectors that are to be given priority in the process of economic integration. These include agro-based products, air travel and air transport, automotive products, e-Asean (software), electronics (hardware), fisheries, health care, rubber-based products, textiles and apparels, tourism and wood-based products.
“Change is coming and business enterprises in the Philippines will face new challenges but also new opportunities as a result of regional integration” Dee said.
“Think about it for a minute. Asean is on the way to becoming a common market of almost 600 million consumers and all within the space of less than 10 years,” Dee said. “Businesses, and particularly the small and medium enterprises, that are the backbone of our economy need to understand the changes that are taking place so that they can plan for them.” “While there will be new competition for goods and services, there will also be new markets for our products,” he added.
“Regionalization will assist Philippines’ business become more competitive and better able to embrace globalization” said Dee, who is also special Presidential envoy for trade negotiations.
Yet despite the changes already underway, many businesses remain unaware of what is taking place. Four years ago, the Asean leaders, created the Business and Investment Summit as an integral part of their annual gathering so as to provide an opportunity for business to learn about the proposed changes before they occur and to provide feedback to the leaders as to what policy initiatives were needed to ensure that Asean becomes a vibrant and competitive region harnessing the energy of its peoples towards a prosperous future and at the same time, making the region a valuable partner in global economic growth. The Asean Business and Investment Summit is organized by the Asean Business Advisory Council, a 30-member council of eminent business persons, with three appointed by each leader to coordinate and advise on economic integration.
This year the business and investment summit will be held in Cebu from December 7 to 10 concurrently with the opening phase of the 12th Asean Summit, which runs from December 6 to 14. This year also, at the initiative of the Philippines, the meeting will not be confined to Asean business and government leaders but is being thrown open globally to provide a voice to all stakeholders within the business sector. “Our intention is to be inclusive rather than exclusive,” Dee said. “Multinationals and other foreign businesses operating within Asean are legitimate stakeholders in developments within the region and, in keeping with the Southeast Asia tradition of harmony and inclusiveness, we want them to contribute to the dialogue process” he said further.
An ambitious and interesting program has been lined up for the Cebu meeting. The first day will be given over to workshops on the various sectors already targeted for priority integration and consideration of the policy changes needed to bring this about. At the same time, the discussion is being opened up to other interest areas that might be considered also.
Suggested new areas already proposed by delegates who have registered for the meeting include minerals and energy policies, financial services, common labor market standards as well as education and professional licensing especially for those seeking overseas work outside the region. “While our primary focus must remain on the areas already mandated for integration by the Asean leaders, our minds are not closed and we must start looking at other areas where the business community sees opportunity and need,” said Dee.
Days 2 and 3 will focus on the changing global economy, Asean’s place in the world and the changes needed to enhance competitiveness at both the macro and micro levels. It will look at how the company—and work practices within it—are changing and what businesses must do to remain competitive. It will look at some of the most successful companies and examine the factors that contributed to their success. It will discuss what the private sector can do to enhance the competitiveness of the region so as to make it a preferred destination for global investment.
The final day of the meeting will be devoted to a dialogue session between business and government leaders with each of the Asean leaders giving their vision of what Asean economic integration means to them. Many of them have agreed to take questions after they talk. President Arroyo will open the day with her keynote address and the day will end with a session with the leaders of the Asean dialogue partners.
Finally, the Asean Business and Advisory Council will meet with the leaders in a special closed-door session to carry the recommendations of the conference to the leaders and discuss the work program for the coming year.
“This is not a talkfest—it is a working meeting designed to help us all move forward towards a more competitive region” Dee said. “If a common regional market will affect the way you conduct your business, then we want your voice heard,” he also said.
The fourth Asean Business and Investment Summit will be held at the Waterfront Hotel, Lahug, Cebu City and adjacent hotels.
For further information please contact the Event Organizer: Philippine Business Leaders Forum Inc. Unit 15C, Valero Tower, 122 Valero Street, Salcedo Village, Makati City 1227, Metro Manila, Philippines
P.O. Box 2737 Makati City, Metro Manila, Philippines
Tel: (63 2) 813 8170~2: Fax: (63 2) 813 8173
E-mail: members@philippinesforum.com Website: http://www.aseanbis2006.com. (Press release)For more Philippine news, visit Sun.Star General Santos. (November 12, 2006 issue)
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