Philippines fully-prepared for ASEAN integration: DTI

The Philippines is already fully prepared for the ASEAN Economic Community integration 2015 although there are areas that need to be improved on, a Department of Trade and Industry senior trade specialist said yesterday.

Raymond Astillas, who is in charge of the DTI ASEAN Desk, was in Bacolod City for a dialog spearheaded by DTI on the challenges and opportunities of the ASEAN integration economic community 2015 at the Sugarland Hotel.

Astillas said there is a need to improve the country’s connectivity, infrastructures, logistics, transportation and to build additional farm-to-market roads to be at par with other Southeast Asian countries.

He said, so far, the Philippines has a rosy outlook from the perspective of the third party institutions, especially with the country’s economic growth of 7.3 percent last year.

Better opportunities will come our way once the ASEAN Economic Community has been formally implemented next year, he added.

ASEAN leaders adopted the ASEAN Economic Integration Blueprint at the 13th ASEAN Summit on November 20, 2007 in Singapore to serve as a coherent master plan guiding the establishment of the ASEAN Economic Community 2015.

The proposed economic integration of the ten Southeast Asian nations is aimed at having a single market and production base, a highly competitive economic region of equitable economic development, and a region fully integrated into the global economy.

Astillas said the AEC areas of cooperation include human resources development and capacity building; recognition of professional qualifications; closer consultation on macroeconomic and financial policies; trade financing measures; enhanced infrastructure and communications connectivity.

He said that it also includes development of electronic transactions through e-ASEAN; integrating industries across the region to promote regional sourcing; and enhancing private sector involvement for the building of the AEC.

Astillas noted that the combined income of the Southeast Asian nations in 2012 was at US$ 2,306 billion while their average gross domestic product per capita was at US$ 3,744 billion.*APN