CARI Conversation III – ASEAN’s role in the new global economy
14 June 2012 – Kuala Lumpur, Malaysia
This year’s CARI Conversations discussed ASEAN’s role in the new global economy. For the first time, the session was streamed and tweeted live.
The distinguished panel emphasised the importance of further integration for ASEAN in the new global environment.
ASEAN can punch its weight only if it is integrated and the progress of integration is slow because of insufficient institutional push, said former deputy governor of Bank Negara Malaysia, Ooi Sang Kuang.
The panel agreed that ASEAN needs a framework and mechanism that is tailor-made for its developing members.
Pushpanathan Sundram, Senior Fellow at the Singaporean Institute of International Affairs said ASEAN has been successful in three areas, trade liberalisation, trade facilitation, and cultivating an attractive investment climate and should continue those efforts.
Dr. Muang Muang Lay, vice president of Union of Myanmar Federation of Chambers of Commerce and Industry indicated that Myanmar has been hibernating, but it is on the verge of take-off and there would be no reversal.
Manu Bhaskaran, CEO of Centennial Asia Advisors recommended that ASEAN should identify a sector that has benefitted from integration and push it forward.
As regional economic integration moves ahead with the realisation of the ASEAN Economic Community (AEC) by 2015, new opportunities and challenges will open for ASEAN and global economic players. How can businesses capitalise on the emergence of an open market for goods, services and investment? How can ASEAN integration help make the region a single production base and an attractive investment destination?
How will the AEC complement or compete against major regional players such as China and India? Will the AEC buffer Southeast Asia from external economic shocks or weaken regional economies? CARI Conversations analysing the prospects of the AEC in the global market as power shifts and capital flows impact our interconnected economies.
Chairman, Malaysian Electronic Clearing Corporation Chairman, Cagamas Berhad Former Deputy Governor, Bank Negara Malaysia
Senior Fellow, Singapore Institute of International Affairs Former Deputy Secretary-General of ASEAN for ASEAN Economic Community