ASEAN is believed to still need to play its role in terms of intra-ASEAN trade and investment, considering the projected stagnation in the value of intra-ASEAN trade over the past two decades, reaching 22-23%. Specifically, global trade among ASEAN countries has experienced stagnant growth from 6.4% to 7.8%.<\/p>\n
The stagnation is caused by several factors, such as the majority of products made in ASEAN being substitute products rather than value-added products. This limits the opportunities for increased trade among member states. Additionally, non-tariff barriers (NTBs) and non-tariff measures (NTMs) are factors that can hinder trade. Lastly, ASEAN also needs to recognize that the countries in the region need to be integrated with each other; otherwise, it will be a barrier.<\/p>\n
In response to this, the Chair of ASEAN Business Advisory Council (ASEAN-BAC), Arsjad Rasjid, consistently emphasizes that all ASEAN countries should continue to invest in the ASEAN region. Intra-ASEAN investment is the key to intra-ASEAN economic growth.<\/p>\n
\"As ASEAN-BAC, representing the private sector and businesses in ASEAN, we want to see more investments in the region. Therefore, we agree on the need to create a well-regulated trade and investment ecosystem in the region,\" said Arsjad.<\/p>\n
Arsjad also states that ASEAN is a dynamic center of trade and investment, with great potential in utilizing natural and human resources. \"Looking at the available data, ASEAN has a combined GDP of over $3 trillion USD and FDI of over $170 billion USD. Moreover, in terms of ease of doing business, data from the World Bank shows that ASEAN countries like Singapore, Malaysia, and Thailand rank among the top 25,\" said Arsjad.<\/p>\n
The homework for ASEAN is to ensure that this ease of trade and investment can be enjoyed by all countries in the region, working together to achieve the desired economic growth.<\/p>\n
Addressing the Challenges: Solutions<\/strong><\/p>\n To overcome these issues, ASEAN-BAC has identified one of the priority issues regarding trade and investment facilitation. Through this priority issue, a legacy project called ASEAN Business Entity has been developed. This legacy project aims to foster various intra-ASEAN investments that can provide specific facilitations among fellow countries in the region, thus promoting regional economic growth.<\/p>\n \"NTBs and NTMs are among the trade issues in the region, and this is what we aim to address through this legacy project,\" said Anne Patricia Sutanto, Policy Manager for ASEAN-BAC Trade Facilitation.<\/p>\n Initiatives to promote intra-ASEAN trade have been selected in sectors such as renewable energy, electric vehicles, food and beverages, textiles, and finance. ASEAN-BAC also focuses on enhancing and harmonizing trade agreements, including ATIGA, RCEP, and ASEAN Plus FTAs. To achieve all of these, emphasis on regulatory aspects once again becomes crucial.<\/p>\n \"Working together with governments, ASEAN-BAC has initiated several initiatives, including reforming legal frameworks and regulations to provide equal tax treatment for startups, promoting intra-ASEAN investment, updating licensing requirements, and reducing compliance costs,\" said Roderick Purwana, Policy Manager for Investment Facilitation.<\/p>\n Bernardino Vega, Vice Chair of ASEAN-BAC, also adds that the ASEAN Business Entity aims to lower the cost of doing business in the region.<\/p>\n \"The ASEAN Business Entity offers a solution where if an entrepreneur establishes an ASEAN company in one ASEAN country, the establishment permit can also be legalized in other ASEAN countries without the need to register the business entity again. This will lower the cost of doing business. It will enhance incentive initiatives for inter-ASEAN investments,\" said Dino.<\/p>\n With regulations that facilitate investment and trade among ASEAN countries, this can trigger regional economic growth. Collaboration among companies in the region is also likely to be established, and this collaborative principle has already been adopted by various major companies such as PT Astra International Tbk., Sinar Mas, Indika Energy, Bakrie Group, and Mayora Group.<\/p>\n Sinar Mas continues to strive and contribute to supporting ease of doing business in the ASEAN region. \"Ease of investment is the key to the success of regional growth,\" said Franky Oesman Widjaja, Chairman and CEO of Sinar Mas Agribusiness & Food.<\/p>\n Indika Energy is also prepared to invest in the ASEAN region and support business facilitation in the area. \"As an investment company with a diversified business portfolio, we recognize that ASEAN holds significant potential to become a new and renewable energy supply chain. Therefore, Indika is ready to promote its utilization by prioritizing sustainable processes,\" said Azis Armand, Vice President Director and Group CEO Indika.<\/p>\n ###<\/p>","protected":false},"excerpt":{"rendered":" ASEAN diyakini masih perlu memainkan perannya dalam hal perdagangan dan investasi intra-ASEAN, mengingat proyeksi stagnasi nilai perdagangan intra-ASEAN selama dua dekade terakhir yang mencapai 22-23%. Lebih spesifik, perdagangan global negara-negara ASEAN mengalami stagnasi pertumbuhan dari angka 6,4% hingga 7,8%. Stagnasi yang terjadi disebabkan karena adanya beberapa hal seperti sebagian besar produk yang dibuat di ASEAN […]<\/p>","protected":false},"author":27,"featured_media":8419,"template":"","-kabar":[142,145,146,149,172,173,175],"class_list":["post-8418","kabar","type-kabar","status-publish","has-post-thumbnail","hentry","-kabar-utama","-kabar-ketua-umum","-kabar-kadin-indonesia","-kabar-program","-kabar-pusat","-kabar-ketum","-kabar-regional"],"yoast_head":"\n