Phl pushes for continued reg'l integration of Asean beyond 2015

MANILA, Philippines - The Philippines is proposing the crafting of a blue print for regional economic integration for the Association of Southeast Asian Nations (ASEAN) beyond 2015.

Trade Undersecretary for Industry Development and Trade Policy Adrian Cristobal Jr. met with his regional counterparts in Bangkok last week where he discussed the need to ensure continued eonomic cooperation in the region to enable small and medium enterprises in the bloc to compete globally.

“Regional integration would mean lower business costs, among other benefits,” Cristobal said.

The meeting of the ASEAN High-level Task Force on Economic Integration (HLTF-EI) also recommended activating the ASEAN working groups on trade in goods, services, and investments to work on a Regional Comprehensive Economic Partnership (RCEP) template in their respective areas.

The task force, composed of high-ranking trade officials from the 10-ASEAN member economies, met in Bangkok last week to discuss the strategic directions for ASEAN on achieving the ASEAN Economic Community (AEC) by 2015 and ASEAN’s relationship with its trading partners.

“The external difficulties like the crisis in Europe and uncertainties in key markets as well as the current momentum in forming the Trans-Pacific Partnership (TPP) have strengthened ASEAN’s resolve to work harder for a more integrated ASEAN, “ said Cristobal.

The task force has recommended the following action points: strengthen institutional mechanisms to address non-tariff trade measures affecting intra-ASEAN trade; review the ASEAN Framework Agreement on Services to enhance services liberalization and facilitation; and strengthen institutional arrangements under the ASEAN Economic Community Council.

The trade ministers also recommended adopting comprehensive, mutually beneficial, and pragmatic approaches in in negotiating the RCEP.

The RCEP, adopted by the ministers during the summit in Bali last year, sets the principles by which ASEAN member countries advance their engagements with countries they have free trade agreements with.

It was also agreed that the Philippines will host the 1st ASEAN Regulatory Reform Symposium in July 2012 to be held back to back with the HLTF- meeting in Manila.

The symposium is part of the ASEAN Regulatory Reform Program endorsed by the Ministers at the 42nd meeting in Manado, Indonesia last August 2011.

“The symposium will be an opportunity for the Philippines to highlight our current reform efforts and support the parallel advocacy of the private sector in implementing regulatory reforms to boost our country’s competitiveness,” said Cristobal.

The ASEAN integrated community has a combined market size of 550 million. ASEAN has a been engaging its trading partners in support of the ASEAN vision of a single market and production base. ASEAN has preferential trade agreements with Japan, China, Korea, Australia, and New Zealand.