Businesses are urged to collaborate more under AEC
The Asean Business Advisory Council has called upon businesses across the Southeast Asian region to play a more collaborative role to take advantage of the newly established AEC.
The Asean Business and Investment Summit (ABIS) 2016, hosted by the Asean Business Advisory Council (Asean-BAC) from September 5-7, has called upon businesses across Asean to play a more collaborative role to take advantage of the newly established Asean Economic Community (AEC) and work on the implementation of the measures agreed upon.
The summit also called for the embracing of global megatrends that have been highlighted as a new focus area in the AEC Blueprint 2025 as essential for Asean to recognise and capitalise on for its regional integration agenda.
From the first to the third day of the summit, Asean leaders, business leaders, entrepreneurs and key decision makers shared their experiences and discussed issues that impact the region’s investment attractiveness and business potential.
The meeting also focused on opportunities, requirements and questions faced by the private sector and explored the myriad of possibilities brought forth by the onset of the AEC.
Topics discussed included complementing regional and global free trade agreements, fast tracking business development and integration in energy, infrastructure and environment, global megatrends and regional integration, AEC sustainable economic development, the future of technology, the role of youth and women in business, and trade and transport facilitation.
The Asean Business and Investment Summit has become a significant platform for deepening mutual understanding and expanding Asean business ties.
It fully reflects the growth momentum of regional business ties and the commitment to enhance cooperation between business communities.
Asean’s growth potential is huge with a population of more than 600 million and a nominal GDP of US$2.31 trillion (Bt80 trillion). Its diversity gives it great strength.
AEC integration offers the opportunity to capitalise on diverse resource endowments, comparative advantages of geography, factors of production, and distinct levels of human capital both education and demographic-based.
