US firms doubt ASEAN 2015 single market goal
SINGAPORE – Two leading American business groups Tuesday said US firms operating in ASEAN countries are skeptical the regional bloc can meet a 2015 deadline to establish a single market.
The 10-member Association of Southeast Asian Nations (ASEAN) has set 2015 as the target for creating a single regional economic market known as the ASEAN Economic Community (AEC).
In a survey of 475 senior US business executives from the region — jointly conducted by the American Chamber of Commerce in Singapore and the US Chamber of Commerce — 52 percent said they “do not think that the AEC’s goals will be realised by 2015”.
Of those who doubt ASEAN will reach its deadline, nearly 60 percent “think that ASEAN will not reach AEC’s goals until 2020 or later”.
Only 23 percent of all executives questioned believe that ASEAN will meet its 2015 goal, the poll showed.
Despite their scepticism, the survey showed that US companies are optimistic about overall business prospects in the region.
US firms said their level of trade and investment in ASEAN rose over the past two years and expect this figure to climb over the next five years.
Indonesia was named the most attractive country for new business expansion, followed by Vietnam, Thailand and Myanmar.
PH ‘most improved’
Meanwhile the Philippines showed the biggest improvement in its business environment between 2008 and 2013, the survey said.
ASEAN, a region of 600 million people, wants to establish a common market and manufacturing base so that it can better compete as a group with giant neighbours such as China and India in terms of trade and investments.
While it has made strides in bringing down tariff barriers to trade in goods, services and investments, analysts have said the problem of creating a single market lies in removing non-tariff hurdles.
The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. –Agence France-Presse
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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