Singa****e News
ASEAN countries urged to integrate to compete globally
By Pamela Almeda, Channel NewsAsia | Posted: 14 April 2008 2228 hrs
SINGA****E : The business community has been urged to be proactive in
advocating ASEAN integration.
Ambassador-at-Large Professor Tommy Koh made the call on Monday at a
lecture series for business leaders, which was organised by the
Singa****e Chinese Chamber of Commerce and Industry.
He said that integration among ASEAN member countries is im****tant for
the region to remain competitive.
ASEAN countries are reaping the benefits of intra-regional
agreements.
About 72 percent of goods traded within member countries are either
tax-free or are subject to tariffs of below 2 percent.
And some estimates show that trade among ASEAN countries is growing at
a rate of 15 percent per year.
But as global competition increases, there is a call for tighter
integration within the region.
Professor Koh said, "Our biggest ambition...to make our 10 individual
economies into one single market and one production base (by 2015), so
that we will have one integrated economy in Southeast Asia more
capable of competing with the giant economies of China and India."
This integration, according to Professor Koh, will be possible through
the ASEAN Charter which was signed in Singa****e last year.
The Charter will put into place a system to monitor non-compliance as
well as dispute settlement, and essentially make ASEAN a rules-based
organisation.
Currently, six countries have ratified the agreement and the rest are
expected to follow suit before the next Summit in Bangkok this
November.
Indonesia, Myanmar, Philippines and and Thailand have yet to ratify
the ASEAN Charter.
The signing of the ASEAN Charter in Singa****e last year is a key step
forward. But business leaders will also need to play their part.
Professor Koh said, "I challenge you to play the role of a well-
informed and vigorous advocate for the more rapid implementation of
ASEAN's economic agreements. ASEAN's business organisations should be
exerting more pressure on their governments to carry out their
commitments under the various ASEAN agreements.
"Individual firms, business leaders like you, national business
associations, should be lobbying your own governments and other ASEAN
governments and not leave everything to regional associations."
To further facilitate trade within the region, there has been a push
to eliminate barriers such as red tape, corruption, weak protection of
intellectual property, as well as political interference in investment
decisions.
The 10 ASEAN member countries are Singa****e, Laos, Malaysia, Brunei,
Vietnam, Cambodia, Indonesia, Myanmar, Philippines and Thailand. - CNA/
ms
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