ASIAN businesses are consolidating and anticipating the creation by the Association of Southeast Asian Nations of an integrated marketplace that is expected to make the region economically independent from the West, especially in light of the continued failure of developed nations to show signs of recovery.
Albert Kong, chief executive of Asiawide Franchise Consultants Pte. Ltd., said an integrated Asean marketplace will give businesses a market of close to 600 million consumers in a region with a combined gross domestic product (GDP) of about $1.1 trillion. The creation of this marketplace “will inject dynamism into Asia,” he said.
Kong is in the country to promote the Franchising and Licensing Asia 2010 expo opening in Singapore next month.
He said the economic state of Western nations has led them to “expect a lesser number of companies from the United States and Europe to participate this year [in the expo], considering the deep-running effects of their housing crisis.”
But Kong said he has high hopes franchisers from the Philippines will consider participating in the expo to see the opportunities for expansion in Asia, especially when some of them are already looking at expanding abroad.
“Filipino franchisers need to be ready to integrate in the region since a lot of regional people will be there and find partners to expand in the region.”
Citing World Trade Organization data, FLAsia 2010 organizers said in a statement that Asia will account for 60 percent of the global trade by 2020, “replacing North America and Europe as the centers of global trade.”
Kong said he sees a franchising boom next year when the zero-tariff environment is applied in Asean for its members. “It will be for the good, definitely not for the worst.”
FLAsia2010 coincides with the International Symposium on Franchising hosted by the International Franchise Association, being held for the first time in Singapore.
“Singapore is poised to become the Asian hub for global franchising,” said John Reynolds, president of IFA Educational Foundation Inc.
The group is heralding franchising as a key business expansion strategy and helps budding entrepreneurs wanting to start their business. –Dennis D. Estopace / Reporter, Businessmirror
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
