EAS strategic advice managing director Pushpanathan Sundram said that private sector participation in the AEC’s integration process will help ensure the development of regulatory frameworks on par with international practices.
Sundram said that the organisation has the potential to play a key role in harmonisation of food policies and standards in ASEAN that enhance the trade of safe, high quality food.
“The two key visionary documents spurring the building of the ASEAN Economic Community are the AEC Blueprint and the Master Plan on ASEAN Connectivity, and one key element in both of these documents is the role of the private sector,” he said. “The private sector is not just seen as a contributor or feedback mechanism for the Economic Community, it is a partner and stakeholder of it. That is, a partner in shaping the present and future direction of the Community and providing the collective leadership in the implementation of the Community goals, working together with the other stakeholders such as the ASEAN governments and the ASEAN Secretariat.
“A good regulatory framework and regulatory practices will certainly have an impact on the trade and investment regime in ASEAN and serve as a catalyst for achieving a rules-based AEC that will enhance trade and investment.”
AFBA is made up of industry associations from the 10 ASEAN member states, including the small and medium enterprises.
Source: European Advisory Services
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