The current spotlight
on Myanmar has helped to draw attention to the Association of Southeast Asian
Nations (ASEAN) as a grouping.
NAYPYIDAW, Myanmar: The current spotlight on Myanmar
has helped to draw attention to the Association of Southeast Asian Nations
(ASEAN) as a grouping.
Participants at the recently-concluded World Economic
Forum (WEF) believe both Myanmar and ASEAN will stand to gain from this
enhanced profile.
Myanmar's President Thein Sein had repeatedly made the
pitch at the WEF about how his country is open for business.
Many have also heard of where the pockets of
investment opportunities are in the country of 60 million people.
Neighbouring ASEAN members are also hoping to share a
little limelight with Myanmar.
John Riady, director of Lippo Group, said: "I
think the opening up of Myanmar over the last 12-18 months is nothing short of
amazing. And we should all seize this opportunity as a moment to come together
and try to work out our differences and achieve a breakthrough for the
integration of the region."
Now that Myanmar is facing fewer sanctions and easing
controls on its governing style, it'll be able to contribute as a more active
member within ASEAN.
Myanmar will also enjoy certain privileges as part of
such a regional club comprising 10 nations.
The Asia Group's CEO for Asia, Adam Schwarz, said:
"We've had a lot of conversation this week about the ASEAN Economic
Community, economic integration.
"Typically when we see economic integration in
regions across the world - whether it's in Europe or Mercosur in South America
- often times, it's actually the smaller economies and the weaker economies
that benefit the most, benefit disproportionately from trade agreements and
regional agreements.
"I think that's probably likely to happen with
Myanmar as well."
At this stage, Myanmar needs ASEAN's backing and
assistance in areas like boosting productivity and human capacity.
Serge Pun, executive chairman of Yoma Strategic
Holdings, said: "Myanmar is definitely getting all the attention and as
you said, sort of a darling of the market.
"That doesn't mean that Myanmar is already there.
So hopefully ASEAN will help Myanmar because after all, we have to realize that
Myanmar is the newest (ASEAN member) as well as probably the lowest in terms of
wealth and productivity output, income. We're a bit the weak partner.
"The strong partners should probably give a
little more help to the weak partner so that we can really have a balanced and
a common growth, so to speak."
Now that the curtain has come down on the World
Economic Forum hosted for the first time in Myanmar, it is hoped that
participants will not only walk away from the meetings just thinking about the
opportunities in this country.
Instead, they'll see Myanmar in the larger context of
being a player in the ASEAN community and that will spur investors to consider
the entire regional trading bloc when they next think of where to put their
money.
- CNA/ir
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