Reevaluating Asean Charter
BARA HASIBUAN
JAKARTA
Wednesday, December 3, 2008
AS THE Asean (Association of Southeast Asian Nations) Summit — initially to be held in Bangkok in mid-December with the adoption of the Asean Charter on top of the agenda — is likely to be postponed due to the continuing political unrest in Thailand, it would be worthwhile for the organisation's leaders to rethink the Charter itself.
It is true that for many in the region the Charter is a milestone. For the first time in its 41-year existence, Asean has a constitution which can potentially lead it to be "a rule-based and people-oriented" entity.
It even indeed sets out rules for the Asean members and gives the organisation legal personality. More importantly, it enshrines the principles of "respect for fundamental freedoms, the promotion and protection of human rights and the promotion of social justice". It also calls for the establishment of a human rights body to ensure that every member state adheres to the Charter's principles.
But, unfortunately the Charter fails to include a provision which would authorise sanctions for any member that does not comply with its rules and principles. And it remains unclear how much power will be granted to the human rights body in enforcing the principles. To make matters even more ambiguous, the Charter validates a long-held Asean principle that is the root cause of the organisation's ineptitude in dealing firmly with its members — "non-interference in the internal affairs of Asean member states".
This unmistakably means that its adoption will not resolve one major problem that has constantly haunted Asean members over the years: How to deal with a fellow member country — Myanmar — whose regime continues to act in wanton defiance of basic principles of human rights.
In fact, in the long run the Charter potentially poses a whole set of problems for Asean. For instance, it will be an embarrassment for an organisation that includes human rights principles in its most sacred document but at the same time has a member in absolute violation of those principles. And it will be more embarrassing if the organisation is unable to sanction that particular member for its behaviour.
There is no indication that Myanmar's junta has any intention to change its course in the near future and restore democracy. In fact, when the regime was in the process of ratifying the Charter earlier this year it was carrying on with its repression by rounding up political activists and sending them to jail without due process.
Without any serious effort to make amendments to it, the Charter will fail to make Asean a more credible and effective grouping, not just in dealing with a host of internal issues but also in shaping the emerging East Asian architecture along with the three major powers of China, India and Japan. Jusuf Wanandi of CSIS Jakarta argues that an effective cooperation to maintain peace, stability and economic dynamism in the East Asian region would also have to get the United States on board.
But Myanmar has always been the sticking point in US-Asean relations. If Asean continues to fail to deal with Myanmar effectively then US-Asean relations may not move to the next level in the new Obama administration — which is supported by a Democratic Congress.
And as Secretary of State, Hillary Clinton might have unabashed empathy toward Aung San Suu Kyi which could influence her stance on Asean. Indonesian Foreign Minister Hassan Wirajuda has conceded that the Charter is "not a perfect document" and that it is "always open to amendment". One thing that can be done immediately, while waiting for the right moment to initiate amendments to the Charter, is to make sure that the Human Rights Commission will have enough power to enforce the Charter's rules and principles, including providing recommendations for sanction or expulsion.
What the Indonesian House of Representatives did by inserting an addendum to the Charter ratification law which stipulates that the Charter has to reflect the "ideals of Asean" — including the improvement and protection of human rights through an effective Asean human rights body, the institution of sanctions, including freezing of membership in cases of serious noncompliance and obstruction of the charter by members — was undoubtedly laudable.
But that was not enough. The Indonesian government needs to step up to the plate and provide strong leadership, without which it will be virtually impossible for Asean to produce a human rights body that is equipped with sufficient power to be effective.
Indonesia is Asean's indispensable power, not just as the largest member country but also as the freest and most stable democracy.
And with such power comes responsibility. Indonesia should use its influence to spread — and should not be ashamed to do so — democratic virtues throughout Asean and more importantly, to convince fellow members to break away from the so-called "constructive engagement" principle which has time and time again proved to be absolutely ineffectual in dealing with the unsavoury junta in Myanmar.
The geopolitical considerations — mainly to prevent China and India from exerting its influence in Myanmar — that drove Asean to admit Myanmar in 1997 do not hold up anymore. China — and to a certain extent, India — have been dominant powers in Myanmar anyway.
Standing up to Myanmar, or even expelling it from Asean, would not change the equation. True, a number of Asean members have commercial interests in Myanmar which oftentimes make it difficult to push the Association to take a hard-nosed stance on Myanmar. But that doesn't mean Indonesia has to go with the flow all the time.
When Myanmar was admitted into Asean 1997, Indonesia was still under the authoritarian rule of Soeharto. Since it is now a country that proudly calls itself the world's third largest democracy its continued silence on its neighbour, Myanmar, is utterly unacceptable.
The writer is US Congressional Fellow 2002-2003.
The Jakarta Post/ANN
Showing posts with label ASEAN. Show all posts
Showing posts with label ASEAN. Show all posts
Wednesday, December 3, 2008
Tuesday, November 25, 2008
Experts say Asian markets to rebound in 2009
Experts say Asian markets to rebound in 2009
BANDAR SERI BEGAWAN
Tuesday, November 25, 2008
ASIAN markets are set to rebound during the second quarter next year, experts yesterday said during an investment forum here.
"The Asian markets will recover faster than the real economy although banks might take more time," said Sam Hanbury, managing director of Deutsche Asset Management (Asia) Limited, who was among the panelists during the Global Finance and Investments Roundtable.
Global markets have fallen over the past months as the financial crisis, which has its roots in the US, worsens.
Still, experts agreed Asian markets will recover next year, noting the region doesn't have problems with toxic debts like those facing developed countries as Asian banks have deleveraged following the Asian financial crisis of 1997.
Companies in Asia invested back in their shares, consolidated operations while government spending focused on infrastructure framework for better development which means that the balance sheets in Asia are on the positive side, the panelists said. No other part of the world can match the current balance sheets of Asian countries, they said.
Inflation is also no longer a problem due to subsidised commodities, the panelists said. Also, they pointed to the big savings of Asian households, which cushion financial systems.
The financial crisis started due to cheap credit, which led to the accumulation of huge debts.
Aberdeen Asset Management Asia's Peter Elston, who was present at the roundtable but not as a panelist, blamed credit default swaps complex financial instruments for the crisis.
Credit default swaps are used to hedge against the risk of borrowers defaulting on their debt, or to speculate on a company's credit quality. Lax regulation over their trading led to abuse.
"The current credit default swap is like buying insurance from the Titanic and issued by the people from the Titanic," he said, referring to the risky nature of trading these financial instruments.
In his company presentation, Ajmal Bhatty, chief executive of Takaful, Tokio Marine Middle East Ltd, said takaful, or Islamic insurance, is the new growth sector in Islamic finance. Takaful growth is seen at 15 to 25 per cent annually against a mere five per cent growth of conventional insurance, according to his presentation, which also noted takaful industry's "extraordinary level of activity since 2003.
In an interview, he said, one aspect of Islamic insurance that can be further explored is extending the range of savings plans and life insurance available in the market today. "Life insurance and savings plans have not developed so much as the conventional insurance side, which is focused on protection," he said.
Ian Baldwyn, general manager of DST International Pte Ltd, a financial solutions provider, said technology supporting the Islamic financial sector is lacking at present. "Historically, the technology is obviously built for the existing market convention in transacting." Junaidi Bahrum and Debbie Too
The Brunei Times
BANDAR SERI BEGAWAN
Tuesday, November 25, 2008
ASIAN markets are set to rebound during the second quarter next year, experts yesterday said during an investment forum here.
"The Asian markets will recover faster than the real economy although banks might take more time," said Sam Hanbury, managing director of Deutsche Asset Management (Asia) Limited, who was among the panelists during the Global Finance and Investments Roundtable.
Global markets have fallen over the past months as the financial crisis, which has its roots in the US, worsens.
Still, experts agreed Asian markets will recover next year, noting the region doesn't have problems with toxic debts like those facing developed countries as Asian banks have deleveraged following the Asian financial crisis of 1997.
Companies in Asia invested back in their shares, consolidated operations while government spending focused on infrastructure framework for better development which means that the balance sheets in Asia are on the positive side, the panelists said. No other part of the world can match the current balance sheets of Asian countries, they said.
Inflation is also no longer a problem due to subsidised commodities, the panelists said. Also, they pointed to the big savings of Asian households, which cushion financial systems.
The financial crisis started due to cheap credit, which led to the accumulation of huge debts.
Aberdeen Asset Management Asia's Peter Elston, who was present at the roundtable but not as a panelist, blamed credit default swaps complex financial instruments for the crisis.
Credit default swaps are used to hedge against the risk of borrowers defaulting on their debt, or to speculate on a company's credit quality. Lax regulation over their trading led to abuse.
"The current credit default swap is like buying insurance from the Titanic and issued by the people from the Titanic," he said, referring to the risky nature of trading these financial instruments.
In his company presentation, Ajmal Bhatty, chief executive of Takaful, Tokio Marine Middle East Ltd, said takaful, or Islamic insurance, is the new growth sector in Islamic finance. Takaful growth is seen at 15 to 25 per cent annually against a mere five per cent growth of conventional insurance, according to his presentation, which also noted takaful industry's "extraordinary level of activity since 2003.
In an interview, he said, one aspect of Islamic insurance that can be further explored is extending the range of savings plans and life insurance available in the market today. "Life insurance and savings plans have not developed so much as the conventional insurance side, which is focused on protection," he said.
Ian Baldwyn, general manager of DST International Pte Ltd, a financial solutions provider, said technology supporting the Islamic financial sector is lacking at present. "Historically, the technology is obviously built for the existing market convention in transacting." Junaidi Bahrum and Debbie Too
The Brunei Times
Tuesday, November 4, 2008
Asean urged to speed up integration amid turmoil
Asean urged to speed up integration amid turmoil
DEBBIE TOO
BANDAR SERI BEGAWAN
Tuesday, November 4, 2008
ASEAN members should spur efforts to integrate their economies and wean the region's dependence on the US as a trade partner as the region grapples with the financial crisis.
"Basically for the past 30 years, the world economy has been relying on the American consumers to drive global growth and it was only recently, emerging markets started to do it," said Cesar Purisima, chairman of the executive committee of Philippine-based process integration consulting firm Prople BPO/Prople KPO Inc.
"In 2007, it was the first time China conquered more of the global growth in actual terms than the US. Then the crisis happens. Now the question is who will help drive us from this present situation?" said Purisima, who was one of the panelists at yesterday's Asean-Japan Business Meeting held here.
He said Asean and Japan, with the rest of Asia should try to accelerate the integration of the region and create an alternative consumer market.
"Through the purchasing power of the consumers, we will therefore create a bigger domestic market," he said.
The former Philippine finance secretary said integration has to be done with Asean as a whole because individually, it will not succeed. "Whether it is Asean countries or Asean+Japan or Japan+3, we should put together funds to accelerate this integration that will focus on narrowing infrastructure gap to focus on putting together the various supply chains and various Asean companies so that they could operate as one," he said.
"For example, a Philippine food company could be put together with a Thai food company, or a Philippine insurance agency could merge with a Singapore insurance company so that they could operate as one so integration is not only done at the government level, but also at the corporate level," he said.
He said that 60 per cent of exports from Asia went outside Asia. This figure has to be reduced, he said, saying more of Asia's exports should be shipped within the region.
Also, he said, "The exports have to be final consumer goods and not the intermediate goods."
Purisima said the process of improving purchasing power would have to start with improving workers' productivity and improving infrastructure.
"Once you gain momentum, you will realise the power of numbers and when you have 575 million people improving their per capita income by $1,000 each, that's $575 billion in additional economic equity that will go a long way in moving economies not only for the region but for the world," said Purisima.
If Asean economies do not integrate, Purisima presented a grim scenario.
"If the reaction of the countries was to be more protectionist, then that will make the crisis even worse. What would happen is that cost of goods in each other's markets will increase and the disposable income will continue to decrease and economical liquidity in general will slow down.
"When you are trying to protect your market by closing the door, you actually get the opposite effect, which is, harming your economy more," he said.
"The fact is that we've globalised and it's hard to reverse," he said.
The Asean-Japan Business Meeting was held at The Empire Hotel and Country Club. It ends today.The Brunei Times
DEBBIE TOO
BANDAR SERI BEGAWAN
Tuesday, November 4, 2008
ASEAN members should spur efforts to integrate their economies and wean the region's dependence on the US as a trade partner as the region grapples with the financial crisis.
"Basically for the past 30 years, the world economy has been relying on the American consumers to drive global growth and it was only recently, emerging markets started to do it," said Cesar Purisima, chairman of the executive committee of Philippine-based process integration consulting firm Prople BPO/Prople KPO Inc.
"In 2007, it was the first time China conquered more of the global growth in actual terms than the US. Then the crisis happens. Now the question is who will help drive us from this present situation?" said Purisima, who was one of the panelists at yesterday's Asean-Japan Business Meeting held here.
He said Asean and Japan, with the rest of Asia should try to accelerate the integration of the region and create an alternative consumer market.
"Through the purchasing power of the consumers, we will therefore create a bigger domestic market," he said.
The former Philippine finance secretary said integration has to be done with Asean as a whole because individually, it will not succeed. "Whether it is Asean countries or Asean+Japan or Japan+3, we should put together funds to accelerate this integration that will focus on narrowing infrastructure gap to focus on putting together the various supply chains and various Asean companies so that they could operate as one," he said.
"For example, a Philippine food company could be put together with a Thai food company, or a Philippine insurance agency could merge with a Singapore insurance company so that they could operate as one so integration is not only done at the government level, but also at the corporate level," he said.
He said that 60 per cent of exports from Asia went outside Asia. This figure has to be reduced, he said, saying more of Asia's exports should be shipped within the region.
Also, he said, "The exports have to be final consumer goods and not the intermediate goods."
Purisima said the process of improving purchasing power would have to start with improving workers' productivity and improving infrastructure.
"Once you gain momentum, you will realise the power of numbers and when you have 575 million people improving their per capita income by $1,000 each, that's $575 billion in additional economic equity that will go a long way in moving economies not only for the region but for the world," said Purisima.
If Asean economies do not integrate, Purisima presented a grim scenario.
"If the reaction of the countries was to be more protectionist, then that will make the crisis even worse. What would happen is that cost of goods in each other's markets will increase and the disposable income will continue to decrease and economical liquidity in general will slow down.
"When you are trying to protect your market by closing the door, you actually get the opposite effect, which is, harming your economy more," he said.
"The fact is that we've globalised and it's hard to reverse," he said.
The Asean-Japan Business Meeting was held at The Empire Hotel and Country Club. It ends today.The Brunei Times
Monday, August 25, 2008
Asean, India set to seal trade deal
Asean, India set to seal trade deal
From the ground up: An Indonesian labourer works at a construction site in Jakarta, on Friday. Asean ministers will finalise this week a trade deal with India. Picture: EPASINGAPORE
Monday, August 25, 2008
ASEAN is set this week to finalise a free trade agreement with India and hold talks with Australia and New Zealand, signalling the importance of regional pacts amid fading hopes for a global trading regime.
Association of Southeast Asian Nations (Asean) economic ministers, meeting in Singapore from today to Friday, are expected to put the final touches on an Asean-India trade in goods pact agreed on by senior officials earlier this month.
The deal covering billions of dollars is expected to be signed during the Asean-India Summit in December, officials have said.
Asean economic ministers will also hold talks with their counterparts from Australia and New Zealand in an effort to have a trade agreement ready for signing by December, a Southeast Asian diplomatic source said.
Australian Foreign Minister Stephen Smith said recently Canberra hoped to conclude the talks with the 10-member Asean in Singapore, but the source said this might not be possible because certain issues still have to be resolved.
But the source added the issues, one of them concerning the rights of New Zealand's indigenous peoples, were minor. He was confident a deal will be reached in time for the Asean Summit in Bangkok in December.
Asean has agreed to gradually tear down barriers to trade in goods and services with China and South Korea and has signed a wide-ranging economic partnership deal with Japan, which also covers investments.
Forging the trade links with India and the two Pacific nations will complete the bloc's ties with all its key Asia-Pacific trading partners, and could be a catalyst for a region-wide free-trade zone, officials said.
Asean has a combined population of about 550 million people. It is a diverse group which ranges from high-tech Singapore to poverty-stricken Myanmar, and the world's most populous Muslim nation, Indonesia.
Asean is already a free-trade area with 90 per cent of goods traded having tariffs between zero and five per cent.
This week the ministers are expected to discuss the impact of high oil and food prices and the escalating global economic slowdown on their economies.
But officials said the overriding focus would be on efforts to achieve a single market and manufacturing base by 2015 to raise Asean's profile in the face of competition from China and India.
"To stay in the game, Asean must become a strong integrated region," Singapore Prime Minister Lee Hsien Loong said.
He warned that, individually, Asean states are "only tiny blips on the radar screens of investors".
Indonesian Trade Minister Mari Pangestu said Asean is likely to focus more on implementing and strengthening its free-trade agreements (FTAs) than on planning for a massive 16-nation pact including its key regional trading partners and covering about half of the global population.
But she agreed the FTAs could evolve in the future.
"What we are seeing is that Asean is at the focal point of all these trade agreements," Pangestu told AFP, noting that all the Asean deals with individual countries are similar in structure.
"Eventually, when you consolidate the FTAs, it is possible that you could end up with something like that (an Asia-wide FTA)."
Regional FTAs could gain fresh momentum after the latest attempt to end a seven-year deadlock in the so-called Doha Round of global trade talks broke down in July because of a dispute between India and the United States over agricultural tariffs.
The Asian Development Bank (ADB), in a recent study on Asian regionalism, said "substantial gains could be realised from consolidating the many FTAs into a single, region-wide one" and from adopting practices to guide future regional and sub-regional FTAs.
But while Asia is forging ahead with trade linkages, the region has a major task in integrating its financial markets which are now larger, deeper and more sophisticated than they were a decade ago, it said.
The region also has to make sure the benefits of economic progress reach a larger number of people, especially the poor, the Manila-based ADB said.
"Governments need to connect the poor to the thriving regional economy by eliminating labour market barriers, investing in workers' capabilities, and building infrastructure to connect disadvantaged regions with economic centres," said the agency, which aims to reduce poverty.
The region was on the right track, however, the ADB said.
"We are witnessing the beginnings of a strong, prosperous, outward-looking Asian economic community, regionally integrated yet connected with global markets, and with responsibility and influence to match its economic weight," the ADB said.AFP
From the ground up: An Indonesian labourer works at a construction site in Jakarta, on Friday. Asean ministers will finalise this week a trade deal with India. Picture: EPASINGAPORE
Monday, August 25, 2008
ASEAN is set this week to finalise a free trade agreement with India and hold talks with Australia and New Zealand, signalling the importance of regional pacts amid fading hopes for a global trading regime.
Association of Southeast Asian Nations (Asean) economic ministers, meeting in Singapore from today to Friday, are expected to put the final touches on an Asean-India trade in goods pact agreed on by senior officials earlier this month.
The deal covering billions of dollars is expected to be signed during the Asean-India Summit in December, officials have said.
Asean economic ministers will also hold talks with their counterparts from Australia and New Zealand in an effort to have a trade agreement ready for signing by December, a Southeast Asian diplomatic source said.
Australian Foreign Minister Stephen Smith said recently Canberra hoped to conclude the talks with the 10-member Asean in Singapore, but the source said this might not be possible because certain issues still have to be resolved.
But the source added the issues, one of them concerning the rights of New Zealand's indigenous peoples, were minor. He was confident a deal will be reached in time for the Asean Summit in Bangkok in December.
Asean has agreed to gradually tear down barriers to trade in goods and services with China and South Korea and has signed a wide-ranging economic partnership deal with Japan, which also covers investments.
Forging the trade links with India and the two Pacific nations will complete the bloc's ties with all its key Asia-Pacific trading partners, and could be a catalyst for a region-wide free-trade zone, officials said.
Asean has a combined population of about 550 million people. It is a diverse group which ranges from high-tech Singapore to poverty-stricken Myanmar, and the world's most populous Muslim nation, Indonesia.
Asean is already a free-trade area with 90 per cent of goods traded having tariffs between zero and five per cent.
This week the ministers are expected to discuss the impact of high oil and food prices and the escalating global economic slowdown on their economies.
But officials said the overriding focus would be on efforts to achieve a single market and manufacturing base by 2015 to raise Asean's profile in the face of competition from China and India.
"To stay in the game, Asean must become a strong integrated region," Singapore Prime Minister Lee Hsien Loong said.
He warned that, individually, Asean states are "only tiny blips on the radar screens of investors".
Indonesian Trade Minister Mari Pangestu said Asean is likely to focus more on implementing and strengthening its free-trade agreements (FTAs) than on planning for a massive 16-nation pact including its key regional trading partners and covering about half of the global population.
But she agreed the FTAs could evolve in the future.
"What we are seeing is that Asean is at the focal point of all these trade agreements," Pangestu told AFP, noting that all the Asean deals with individual countries are similar in structure.
"Eventually, when you consolidate the FTAs, it is possible that you could end up with something like that (an Asia-wide FTA)."
Regional FTAs could gain fresh momentum after the latest attempt to end a seven-year deadlock in the so-called Doha Round of global trade talks broke down in July because of a dispute between India and the United States over agricultural tariffs.
The Asian Development Bank (ADB), in a recent study on Asian regionalism, said "substantial gains could be realised from consolidating the many FTAs into a single, region-wide one" and from adopting practices to guide future regional and sub-regional FTAs.
But while Asia is forging ahead with trade linkages, the region has a major task in integrating its financial markets which are now larger, deeper and more sophisticated than they were a decade ago, it said.
The region also has to make sure the benefits of economic progress reach a larger number of people, especially the poor, the Manila-based ADB said.
"Governments need to connect the poor to the thriving regional economy by eliminating labour market barriers, investing in workers' capabilities, and building infrastructure to connect disadvantaged regions with economic centres," said the agency, which aims to reduce poverty.
The region was on the right track, however, the ADB said.
"We are witnessing the beginnings of a strong, prosperous, outward-looking Asian economic community, regionally integrated yet connected with global markets, and with responsibility and influence to match its economic weight," the ADB said.AFP
Wednesday, August 20, 2008
ASEAN members viewed as "tiny blips" on investors' radar screens
From Monsters and Critics.com
Business News
ASEAN members viewed as "tiny blips" on investors' radar screens
By DPA
Aug 20, 2008, 6:17 GMT
Singapore - Members of the Association of South-East Asian Nations (ASEAN) are only 'tiny blips' on investors' radar screens compared to China and India, Singapore Prime Minister Lee Hsien Loong said Wednesday.
Opening the 29th ASEAN Inter-Parliamentary Assembly (AIPA) session, Lee said the 10-member group has to struggle to get its share of investments, jobs and growth.
Through hosting the Beijing Olympic, China had shown the world the talents, energy and organizational prowess of its people, Lee said. 'India's economy too has considerable dynamism, and is moving up in terms of skills and technology,' he added.
ASEAN will become a single market and production base by 2015 as long as the organization adheres to its timetable, Lee said. 'To stay in the game, ASEAN must become a strong and integrated region.'
'Then collectively, we will form a bigger blip on the radar screens, and become a more attractive and worthwhile economic partner, whether for multinational corporations or other countries,' Lee said.
He also stressed the importance of all member states ratifying the ASEAN Charter which will turn the group into a rule-based legal entity. It has been ratified by seven members so far.
Future stability cannot be taken for granted, Lee said, citing the problems stemming from the sub-prime mortgage crisis and the failure of the latest round of the Doha trade negotiations in Geneva.
He urged the parliamentarians 'to stand firm against xenophobic attitudes, and to support policies which keep our economies open and integrated.'
ASEAN comprises Singapore, Thailand, Malaysia, Indonesia, the Philippines, Brunei, Vietnam, Laos, Cambodia and Myanmar.
© Copyright 2007 by monstersandcritics.com.
This notice cannot be removed without permission.
Business News
ASEAN members viewed as "tiny blips" on investors' radar screens
By DPA
Aug 20, 2008, 6:17 GMT
Singapore - Members of the Association of South-East Asian Nations (ASEAN) are only 'tiny blips' on investors' radar screens compared to China and India, Singapore Prime Minister Lee Hsien Loong said Wednesday.
Opening the 29th ASEAN Inter-Parliamentary Assembly (AIPA) session, Lee said the 10-member group has to struggle to get its share of investments, jobs and growth.
Through hosting the Beijing Olympic, China had shown the world the talents, energy and organizational prowess of its people, Lee said. 'India's economy too has considerable dynamism, and is moving up in terms of skills and technology,' he added.
ASEAN will become a single market and production base by 2015 as long as the organization adheres to its timetable, Lee said. 'To stay in the game, ASEAN must become a strong and integrated region.'
'Then collectively, we will form a bigger blip on the radar screens, and become a more attractive and worthwhile economic partner, whether for multinational corporations or other countries,' Lee said.
He also stressed the importance of all member states ratifying the ASEAN Charter which will turn the group into a rule-based legal entity. It has been ratified by seven members so far.
Future stability cannot be taken for granted, Lee said, citing the problems stemming from the sub-prime mortgage crisis and the failure of the latest round of the Doha trade negotiations in Geneva.
He urged the parliamentarians 'to stand firm against xenophobic attitudes, and to support policies which keep our economies open and integrated.'
ASEAN comprises Singapore, Thailand, Malaysia, Indonesia, the Philippines, Brunei, Vietnam, Laos, Cambodia and Myanmar.
© Copyright 2007 by monstersandcritics.com.
This notice cannot be removed without permission.
Thursday, July 24, 2008
HRH: Realising Asean-China FTA signals opportunities
HRH: Realising Asean-China FTA signals opportunities
HRH Prince Mohamed Bolkiah: Trade has grown 20% in two years.Picture: Infofoto
BANDAR SERI BEGAWAN
Thursday, July 24, 2008
Workshops hosted by Brunei to see young entrepreneurs getting together
NEW opportunities are emerging for local businessmen and women with the realisation of the Asean-China Free Trade Area, His Royal Highness Prince Mohamed Bolkiah said during the Asean-China Post Ministerial Conference in Singapore.
"Our two-way trade has grown by some 20 per cent over the last two years. What now remains is to complete the Agreement on Investment to realise the Free Trade Area (ACFTA)," the Minister of Foreign Affairs and Trade said.
His Royal Highness said that the agreement will "represent a considerable advance in our economic cooperation" and have a "significant long-term effect on the lives of our people", despite the complexity and time consumption leading to the signing of the agreement.
The minister expressed his pleasure at the Framework of Cooperation between Bimp-Eaga and China and lauded China's efforts to set up the Pan Beibu Gulf Economic Sub-Regional Zone which will complement Brunei's effort in the Bimp-Eaga Sub-Regional Growth Area.
His Royal Highness said that workshops hosted by Brunei will soon see local entrepreneurs participating in the Asean-China Young Entrepreneurs' Association to exchange ideas and work closely together.
He continued to say that the idea came from the Commemorative Summit in Nanning which has produced a considerably strong dialogue which has resulted in Brunei's development.
His Royal Highness added that there was a need to continue negotiations on the agreement on investment and the Asean-China Centre Memorandum of Understanding.
"We would also like to develop an open skies agreement, in order to increase trade and tourism between Asean and China," His Royal Highness added.
The minister mentioned that the established relations between Brunei and China which has continued to strengthen should be further deliberated.
"There is now a need to consider what we can do to bring our ordinary people closer together in knowledge, understanding and appreciation of each other and our backgrounds, beliefs and ways of life," stated the minister.
The Asean-China Post Ministerial Conference was jointly chaired by His Royal Highness and China's Foreign Affairs Minister Yang Jiechi at the Shangri-La Hotel in Singapore.
Later in the evening a gala dinner was hosted by Singapore's Foreign Affairs Minister George Yeo at the Istana Banquet Hall. Also in attendance was Her Royal Highness Pengiran Anak Isteri Pengiran Anak Hajah Zariah, and other foreign ministers of Asean and its dialogue partners. (SHR1)
The Brunei Times
HRH Prince Mohamed Bolkiah: Trade has grown 20% in two years.Picture: Infofoto
BANDAR SERI BEGAWAN
Thursday, July 24, 2008
Workshops hosted by Brunei to see young entrepreneurs getting together
NEW opportunities are emerging for local businessmen and women with the realisation of the Asean-China Free Trade Area, His Royal Highness Prince Mohamed Bolkiah said during the Asean-China Post Ministerial Conference in Singapore.
"Our two-way trade has grown by some 20 per cent over the last two years. What now remains is to complete the Agreement on Investment to realise the Free Trade Area (ACFTA)," the Minister of Foreign Affairs and Trade said.
His Royal Highness said that the agreement will "represent a considerable advance in our economic cooperation" and have a "significant long-term effect on the lives of our people", despite the complexity and time consumption leading to the signing of the agreement.
The minister expressed his pleasure at the Framework of Cooperation between Bimp-Eaga and China and lauded China's efforts to set up the Pan Beibu Gulf Economic Sub-Regional Zone which will complement Brunei's effort in the Bimp-Eaga Sub-Regional Growth Area.
His Royal Highness said that workshops hosted by Brunei will soon see local entrepreneurs participating in the Asean-China Young Entrepreneurs' Association to exchange ideas and work closely together.
He continued to say that the idea came from the Commemorative Summit in Nanning which has produced a considerably strong dialogue which has resulted in Brunei's development.
His Royal Highness added that there was a need to continue negotiations on the agreement on investment and the Asean-China Centre Memorandum of Understanding.
"We would also like to develop an open skies agreement, in order to increase trade and tourism between Asean and China," His Royal Highness added.
The minister mentioned that the established relations between Brunei and China which has continued to strengthen should be further deliberated.
"There is now a need to consider what we can do to bring our ordinary people closer together in knowledge, understanding and appreciation of each other and our backgrounds, beliefs and ways of life," stated the minister.
The Asean-China Post Ministerial Conference was jointly chaired by His Royal Highness and China's Foreign Affairs Minister Yang Jiechi at the Shangri-La Hotel in Singapore.
Later in the evening a gala dinner was hosted by Singapore's Foreign Affairs Minister George Yeo at the Istana Banquet Hall. Also in attendance was Her Royal Highness Pengiran Anak Isteri Pengiran Anak Hajah Zariah, and other foreign ministers of Asean and its dialogue partners. (SHR1)
The Brunei Times
Saturday, May 17, 2008
Jobless rate rising in Asean, says ILO
Jobless rate rising in Asean, says ILO
HADI DP MAHMUD
BANDAR SERI BEGAWAN
Thursday, May 17, 2007
b>But figure skewed by Indonesia which has the region's largest labour force
MORE than 27 million jobs were created from year 2000 to last year in Southeast Asia, according to a report by the International Labour Organisation (ILO).
This represents an 11 per cent increase in total employment in the region, which stood at 263 million last year, the ILO said the report, which is a compilation of comprehensive employment and social statistics including labour productivity, employment by sector and the informal economy of Asean countries. It is the first of its kind, said the ILO.
The report stated that young people in the Asean region are being "disproportionately affected" in terms of unemployment.
The unemployment rate in Asean rose from 5 per cent to 6.6 per cent over the same period. However, this figure is skewed by the situation in Indonesia, which has the region's largest labour force. Unemployment in the world's most populous Muslim nation rose from 6.1 to 10.4 per cent.
According to the Brunei Darussalam Key Indicators 2006, there were 7,300 jobseekers in the sultanate last year. The unemployment rate in Brunei shot up 0.8 per cent from 2004 to 2005, and declined 0.3 per cent last year.
The United Nations-specialised agency called for Asean to increase labour productivity and narrow development gaps between members to ensure sustainable growth and build a thriving community by 2015.
The 107-page report, entitled Labour and Social Trends in Asean 2007: Integration, Challenges, Opportunities, warns that although unemployment is commonly seen as an important indicator, other crucial aspects of labour market performance deserve more attention. These include gender gaps, labour productivity, working conditions, the growing informal economy and the working poor. Despite recent economic growth, the region remains home to millions of poor.
Last year, more than half of Asean's 262 million workers earned less than US$2 per day, which leaves them and their families below the poverty line.
"What matters therefore, when evaluating labour market trends is not just the level of employment but also its nature and quality," the report stated.
The ILO warned Asean of its labour productivity, which is lagging far behind productivity bursts in India and China. Between 2000 and 2005, output per worker in Asean grew only 15.5 per cent compared to 26.9 in India and 63.4 per cent in China. "Because of its strong export-orientation, productivity growth is critical to Asean. Accelerating productivity growth is therefore essential, not only for competitiveness but for job creation and poverty reduction," the report noted.
Cross-border labour migration is being driven by uneven labour supply and persistent development gaps, the report added. In 2005, the total number of migrants originating from Asean was estimated at 13.5 million, 39 per cent of whom were in other Asean member countries.
"The large and growing number of irregular migrants means that managing migration and ensuring migrants' protection are becoming pressing issues a major task that Asean has now taken up with its recent Declaration and Promotion of the Rights of Migrant Workers," the organisation said.
The Brunei Times
HADI DP MAHMUD
BANDAR SERI BEGAWAN
Thursday, May 17, 2007
b>But figure skewed by Indonesia which has the region's largest labour force
MORE than 27 million jobs were created from year 2000 to last year in Southeast Asia, according to a report by the International Labour Organisation (ILO).
This represents an 11 per cent increase in total employment in the region, which stood at 263 million last year, the ILO said the report, which is a compilation of comprehensive employment and social statistics including labour productivity, employment by sector and the informal economy of Asean countries. It is the first of its kind, said the ILO.
The report stated that young people in the Asean region are being "disproportionately affected" in terms of unemployment.
The unemployment rate in Asean rose from 5 per cent to 6.6 per cent over the same period. However, this figure is skewed by the situation in Indonesia, which has the region's largest labour force. Unemployment in the world's most populous Muslim nation rose from 6.1 to 10.4 per cent.
According to the Brunei Darussalam Key Indicators 2006, there were 7,300 jobseekers in the sultanate last year. The unemployment rate in Brunei shot up 0.8 per cent from 2004 to 2005, and declined 0.3 per cent last year.
The United Nations-specialised agency called for Asean to increase labour productivity and narrow development gaps between members to ensure sustainable growth and build a thriving community by 2015.
The 107-page report, entitled Labour and Social Trends in Asean 2007: Integration, Challenges, Opportunities, warns that although unemployment is commonly seen as an important indicator, other crucial aspects of labour market performance deserve more attention. These include gender gaps, labour productivity, working conditions, the growing informal economy and the working poor. Despite recent economic growth, the region remains home to millions of poor.
Last year, more than half of Asean's 262 million workers earned less than US$2 per day, which leaves them and their families below the poverty line.
"What matters therefore, when evaluating labour market trends is not just the level of employment but also its nature and quality," the report stated.
The ILO warned Asean of its labour productivity, which is lagging far behind productivity bursts in India and China. Between 2000 and 2005, output per worker in Asean grew only 15.5 per cent compared to 26.9 in India and 63.4 per cent in China. "Because of its strong export-orientation, productivity growth is critical to Asean. Accelerating productivity growth is therefore essential, not only for competitiveness but for job creation and poverty reduction," the report noted.
Cross-border labour migration is being driven by uneven labour supply and persistent development gaps, the report added. In 2005, the total number of migrants originating from Asean was estimated at 13.5 million, 39 per cent of whom were in other Asean member countries.
"The large and growing number of irregular migrants means that managing migration and ensuring migrants' protection are becoming pressing issues a major task that Asean has now taken up with its recent Declaration and Promotion of the Rights of Migrant Workers," the organisation said.
The Brunei Times
Wednesday, November 21, 2007
Brunei To Implement Asean Single Window By 2008 To Facilitate Trade
Brunei To Implement Asean Single Window By 2008 To Facilitate Trade
Bandar Seri Begawan - Asean is creating a Single Asean Window to facilitate trade which is discussed in the annual Asean Summit.
This is where the clearance of shipments and the release of goods by customs authority in the Asean region will be speed up with the establishment of the Asean Single Window in 2012.
Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand will implement the Asean Single Window by 2008 and Cambodia, Lao PDR, Myanmar and Vietnam by 2012.
Through synchorinising the interventions of the government agencies, traders, shippers, forwarders, transport operators and other parties, custom authorities aimed to clear containerized shipments within 30 minutes, target set in the Strategic Plan of Customs Development. Currently, clearance can take up to five days.
Businesses will benefit from the cut in transaction costs and, time, and greater predictability in administrative customs procedures.
Consumers will enjoy more secure and timely delivery of goods at a lower cost.
For the Asean Single Window to come into effect, all Asean countries would first need to set up National Single Windows which is a clearance system that enables a single submission information and date, single and simultaneous processing of the date, and a single point of decision-making through close collaboration among the ministries and other parties involved in the customs clearance process.
Instead of submitting different forms and information to multiple agencies such as customs, ports, health and so on to get a shipment of goods cleared, a trader would only need to submit all information to one agency.
The Asean Single Window will be in operation when all the 10 National Single Windows are operating in an integrated manner.
For instance, if a container of goods destined for Malaysia first enters Asean through Thailand, a trader only has to submit the required data once to a centralised hub and the information would then be automatically shared and processed among the relevant agencies.
Asean has been working closely with various ICT developers, service providers and consultants in developing the technical architecture, prototype and detailed functional model of the Asean Single Window.
The joint efforts of businesses, industries and governments will be crucial in developing and operating an Asean Single Window that meets the needs of businesses and consumers.
Courtesy Borneo Bulletin
Bandar Seri Begawan - Asean is creating a Single Asean Window to facilitate trade which is discussed in the annual Asean Summit.
This is where the clearance of shipments and the release of goods by customs authority in the Asean region will be speed up with the establishment of the Asean Single Window in 2012.
Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand will implement the Asean Single Window by 2008 and Cambodia, Lao PDR, Myanmar and Vietnam by 2012.
Through synchorinising the interventions of the government agencies, traders, shippers, forwarders, transport operators and other parties, custom authorities aimed to clear containerized shipments within 30 minutes, target set in the Strategic Plan of Customs Development. Currently, clearance can take up to five days.
Businesses will benefit from the cut in transaction costs and, time, and greater predictability in administrative customs procedures.
Consumers will enjoy more secure and timely delivery of goods at a lower cost.
For the Asean Single Window to come into effect, all Asean countries would first need to set up National Single Windows which is a clearance system that enables a single submission information and date, single and simultaneous processing of the date, and a single point of decision-making through close collaboration among the ministries and other parties involved in the customs clearance process.
Instead of submitting different forms and information to multiple agencies such as customs, ports, health and so on to get a shipment of goods cleared, a trader would only need to submit all information to one agency.
The Asean Single Window will be in operation when all the 10 National Single Windows are operating in an integrated manner.
For instance, if a container of goods destined for Malaysia first enters Asean through Thailand, a trader only has to submit the required data once to a centralised hub and the information would then be automatically shared and processed among the relevant agencies.
Asean has been working closely with various ICT developers, service providers and consultants in developing the technical architecture, prototype and detailed functional model of the Asean Single Window.
The joint efforts of businesses, industries and governments will be crucial in developing and operating an Asean Single Window that meets the needs of businesses and consumers.
Courtesy Borneo Bulletin
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