Borneo Post: M’sia confident AEC can be realised by 2015

ECONOMIC INTEGRATION: Mustapa (left) delivers his speech during the 10th Asean Leadership Forum yesterday. Also present were Former Prime Minister Tun Abdullah Ahmad Badawi (right) and Asian Strategy and Leadership Institute (Asli) chief executive officer Tan Sri Michael Yeoh (third right). — Bernama photo
PETALING JAYA: Malaysia is confident the Asean Economic Community (AEC) will be realised by 2015 as 80 per cent of the measures have already been implemented by member nations.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said in the case of Malaysia, 88 per cent of the measures have been implemented.
Speaking to reporters after launching the 10th Asean Leadership Forum, Mustapa said Malaysian entrepreneurs were getting ready, especially in capacity- building measures to enhance their resilience.
He said capacity building was important as it was easier for bigger companies to adapt but some small and medium enterprises (SMEs) are feeling the pressure.
Earlier in his speech, Mustapa said Malaysian companies have been benefiting from closer Asean economic integration by expanding their operations to other Asean countries.
“Companies such as Maybank, AirAsia, CIMB, Sime Darby, Petronas and Ingress Auto Ventures are some examples of companies that have been very active in the regions.
“Similarly, we are seeing companies from Singapore, Thailand, Indonesia and the Philippines increasing their investments in Malaysia. Perhaps, what I would like to see is the participation of more SMEs,” he said.
Mustapa said there are many economic areas whose integration success rates have been very good.
In terms of a single market and production base, Asean has eliminated tariffs, liberalised trade in services and removed many restrictions on investments, he said.
“Efforts are ongoing to deepen financial market integration.
“Progress in connectivity initiatives in creating a single aviation market, single shopping market and cross-border sectors have been very encouraging,” Mustapa said.
In the context of further enhancing integration, Mustapa said two AEC Post-2015 studies are being undertaken.
“One study is being done by the Economic Research Institute of Asean and East Asia and the other by the Rajaratnam School of International Studies in Singapore and the Institute of South East Asian Studies.
“These studies are being undertaken to facilitate Asean in drawing up the Post-2015 economic integration initiative.
“These studies will provide valuable inputs to Asean in further enhancing its position as a competitive economic region,” Mustapa added. — Bernama

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