THE ASEAN Business and Investment Summit (ASEAN-BIS) will set the stage
for further development of the ASEAN Economic Community (AEC) when it commences
today in Phnom Penh, Cambodia.
The business summit, which ends
tomorrow, will start with an open dialogue session with business leaders on
"Opportunities and Challenges of Expanding Markets in East Asia".
This session will discuss
in-depth how ASEAN businesses can penetrate markets outside of ASEAN borders
through the existing ASEAN+1 Free Trade Agreements and Comprehensive Economic
Partnerships.
Parallel sessions on
"Building an Interconnected ASEAN Economic Community" will see
delegates undergo two separate discussions on "The Potential of Renewable
Energy in ASEAN" and "Capitalising on ASEAN Connectivity".
This will be followed by another
dialogue session on the prospects for increasing ASEAN's position as a
competitive investment hub, which will look into the importance of the
promotion of good corporate governance by ASEAN governments and its private
sectors, and also explore the potential of the recently launched ASEAN
Comprehensive Investment Agreement (ACIA) to increase both the quantity and
quality of investments in the region.
The opening session of the final
day, titled "Cambodia, Laos and Myanmar: The Next Frontier of ASEAN",
will explore the least developed ASEAN member states and the increasing
significance of their roles in helping shape the ASEAN integration process.
There will also be parallel
sessions to discuss ways to empower SMEs, where delegates will deliberate on promoting
the funding of SMEs and the importance of fostering entrepreneurship in the
region as one of the key drivers of growth. In a separate discussion, "In
Looking Forward: What does the future hold for ASEAN", delegates will look
at viewpoints shared by the secretary-general of ASEAN, the Organisation for
Economic Cooperation and Development and Asian Development Bank Institute.
The summit will also pay tribute
to the "most admired ASEAN enterprises" with the ASEAN Business
Awards 2012, which will be held on the sidelines.
The Brunei Times
Business & Investment Opportunities
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