Philippines needs to prepare for AEC

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AECPhilippine Chamber of Commerce and Industry (PCCI) criticised that the country might not be sufficiently prepared for the upcoming single market of the ASEAN Economic Community (AEC) which will be kicked off at the end of 2015.

The country must have in place new policies, institutional bodies and interconnectivity to flourish in an economically integrated environment, the chamber said.

Both government and private sector must partner to be able to implement these programmes, chamber officials said during the Economic Integration Forum held on April 12 in Quezon City.

“If the Philippines within ASEAN is to succeed in the planned integration, it has to encourage more businesses and industries to develop and sustain their participation in global value chains and production networks, as well as improve overall competitiveness and growth,” said PCCI president Miguel B. Varela in his opening speech.

Many things need to be in place if the Philippines wants to be able to integrate with the rest of the region, the forum participants argued. For example, interconnectivity between major Philippine islands and other ASEAN countries needs to be planned before 2015.

“Policies need to be in place before we can truly integrate with the region,” said Donald G. Dee, PCCI vice-chairman for

These policies include agreements on export standards, a national single customs certification, and as trade between and among countries will increase with the integration there has to be a dispute settlement agency in place, he added.

The AEC is planned to be launched on December 31, 2015, and aims to create a single market and production base within the ten ASEAN countries, a highly competitive economic region and a region of equitable economic development.

 

 

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Reading Time: 1 minute

Philippine Chamber of Commerce and Industry (PCCI) criticised that the country might not be sufficiently prepared for the upcoming single market of the ASEAN Economic Community (AEC) which will be kicked off at the end of 2015.

Reading Time: 1 minute

AECPhilippine Chamber of Commerce and Industry (PCCI) criticised that the country might not be sufficiently prepared for the upcoming single market of the ASEAN Economic Community (AEC) which will be kicked off at the end of 2015.

The country must have in place new policies, institutional bodies and interconnectivity to flourish in an economically integrated environment, the chamber said.

Both government and private sector must partner to be able to implement these programmes, chamber officials said during the Economic Integration Forum held on April 12 in Quezon City.

“If the Philippines within ASEAN is to succeed in the planned integration, it has to encourage more businesses and industries to develop and sustain their participation in global value chains and production networks, as well as improve overall competitiveness and growth,” said PCCI president Miguel B. Varela in his opening speech.

Many things need to be in place if the Philippines wants to be able to integrate with the rest of the region, the forum participants argued. For example, interconnectivity between major Philippine islands and other ASEAN countries needs to be planned before 2015.

“Policies need to be in place before we can truly integrate with the region,” said Donald G. Dee, PCCI vice-chairman for

These policies include agreements on export standards, a national single customs certification, and as trade between and among countries will increase with the integration there has to be a dispute settlement agency in place, he added.

The AEC is planned to be launched on December 31, 2015, and aims to create a single market and production base within the ten ASEAN countries, a highly competitive economic region and a region of equitable economic development.

 

 

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