Monday, 10 June 2013 in ASEAN News
The World Economic Forum on East Asia was held from 5-7 June 2013 in Nay Pyi Taw, Myanmar. At this event, ASEAN business and leaders emphasized the need for greater connectivity and regulatory harmonization to unlock ASEAN's vast growth potential. Key ways to achieving a more integrated and efficient ASEAN include: streamlining regional export and import processes, creating a body solely responsible for boosting supply chain competitiveness; and improving regulatory harmony. Boosting regional supply chains are also viewed as important to generate necessary capital to fund critical infrastructure. Further, the forum viewed ASEAN disparities in wealth as the region's weakness as well as its biggest strength, as it allows companies to be more selective about where they set up production bases and focus on value added across the region.
Source: World Economic Forum