ASEAN Urges Private Sector to Play Active Role in AEC

ASEAN Deputy-Secretary General for ASEAN Economic Community Lim Hong Hin urged the private sector to engage actively in realizing the ASEAN Economy Community, in what he called as a “market-driven process.”

 

Hong Hin made the remarks as government officials, business community and academics gathered in Jakarta September 19 for a full-day symposium examining the progress of ASEAN economic integration.

 

Since the AEC goal was first announced by the ASEAN Leaders in 2003, countries in the region have been implementing measures to create a single market and competitive region. Measures to underpin the AEC in such areas as ASEAN single window, single aviation market, integrated investment area, and integration of financial markets have so far increased the attractiveness of ASEAN. However, as discussed in the Symposium, there are still challenges that need to be addressed, including incorporating regional initiatives within national development plan, sustaining reform momentum and looking beyond demand-driven measures that affect the timely implementation of AEC. By end-August ASEAN has implemented 72 percent of measures due under the AEC Blueprint.

 

The AEC Symposium is a first of a series of symposiums that will be organized starting this year, in the run-up to the establishment of the AEC by 2012.