ASEAN to further enhance trade, investment cooperation

FILE: (PHOTO: ASEANA/FACEBOOK)

MANILA — The Philippines foresees greater opportunities to expand trade and investment within Association of Southeast Asian Nations (ASEAN) members, as it hosts the region’s biggest business and state leaders event next week.

George Barcelon, ASEAN Business Advisory Council (BAC) member, said the intra-ASEAN trade currently is about 25 to 26 percent, while intra-trade among European nations is almost 60 percent.

“The more collaboration we made among the ASEAN, the more ASEAN trade and commerce that we can encourage,” he said Friday.

Barcelon noted the ASEAN has a population of 650 million, thus creates huge investment opportunities.

ASEAN BAC Chairman and Presidential Adviser for Entrepreneurship Joey Conception cited logistics as one area with high potential for investment.

“The digital economy cannot take place when you have logistics lagging behind. There are a lot of investments coming in logistics (sector),” he said.

“I think connectivity is part of market. You can’t really enhance the market when you do not have the right connectivity, whether its airport or road,” he added.

Meanwhile, this year’s ASEAN Business & Investment Summit (ABIS) is slated on November 13 to 14 at the Solaire Grand Ballroom in Parañaque City.

With the theme “World Leaders’ Roadmap Towards Prosperity for All,” the event is expected to draw over 1,700 guests representing top-level executives from diverse sectors; distinguished thought leaders; champions and leaders from across the region coming from the government, business, the academe, and research entities; and entrepreneurship mentors and enablers.

The event shall cover various topics, including the ASEAN Build, Build, Build — Infrastructure Development: A Perspective (Building for the Future). This forum aims to facilitate discussions on current and upcoming initiatives of the public and private sector in strengthening infrastructure development across ASEAN. (PNA)