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Jakarta Post

The importance of private sector

  • S. Pushpanathan

Jakarta   /   Thu, September 2 2010   /  09:36 am

The week long ASEAN economic ministers meeting in Danang, Viet Nam ended on Aug. 27, 2010 with one key message: Implement fully and timely commitments under the ASEAN Economic Community (AEC).  The ministers emphasized implementation as the “do or be done” mission for ASEAN especially due
to intensifying competition in Asia as the global engine for growth shifts to Asia as well as increasing competition from emerging economies.Their concerns are justified.  Under the 2008-2009 AEC Scorecard managed by the ASEAN Secretariat, ASEAN has only achieved 80 percent implementation. The remaining 20 percent comprise some of the key measures that need immediate implementation to see through the next window period (2010-2011) for the building of the AEC. ASEAN cannot afford the backlog if it wants progress in economic integration. The measures include ratification of several legal...