ASEAN Economic Community discussed in London

Business executives in Asia and Europe met in the Asia House in London on June 12 for a conference on ASEAN strategy.

Participants at the conference (Photo: VNA)

The participants discussed about the formation of the ASEAN Economic Community (AEC) and opportunities the AEC can offer.

Addressing the meeting, ASEAN Secretary General Le Luong Minh said that more than 90 percent of 506 measures of the AEC have been implemented since the blueprint on the AEC was approved in 2008.

Regardless of impacts from the economic recession, ASEAN countries have achieved many economic achievements and have been revised and issued policies to turn the region into an independent market and production level with the free flow of goods, services, investments and skilled workers.

He expressed his belief that the AEC will be formed as scheduled and the implementation of the AEC measures send a strong message that principles, frameworks and measures being implemented will move the region to a real economic community.

Business leaders such as Min Yih Tan, General Director in charge of the Shell Corporation’s Global Retail and Trade Strategy, Klaus Landhaeusser, head of the Robert Bosch Corporation’s External Affairs and Governmental Relation in Southeast Asia shared business experience with ASEAN countries like selecting partners, training staff and working with governments for sustainable development.

Delegates at the conference also discussed about the rising competitive environment in ASEAN as well as enterprise owners’ management in labour, capital and investment.

The AEC which is formed late this year comprises ten countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – with a population of over 600 million and a combined gross domestic product of more than VND 2,000 billion.

Source:VNA

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