Welcome to the live blog of the Punongbayan & Araullo forum on the Asean Economic Community.
Rappler's Lala Rimando, Judith Balea, Cai Ordinario, Katherine Visconti and Ramon Calzado will give you a blow-by-blow account of the business event at Makati Shangri-la Hotel.
The ASEAN Economic Community is one of the pillars of an integrated region envisioned to take place in 2015. The AEC aims for a single market base of over 600 million consumers and a GDP of over US$1.3 trillion, as well as a production base where there will be free flow of goods, services, investments, capital and skilled labor.
Representatives of ASEAN and Philippine firms will share ideas and plans on how the opportunities and risks of an integrated community two years from now.
ASEAN member countries are
INDICATIVE PROGRAM: P&A CEO Business Forum, 23 October 2012
Host/Moderator : Maria Ressa, CEO & Executive Editor, Rappler.com
08:45 08:55 Welcome remarks
Marivic Españo, P&A Chairperson & CEO
08:55 09:25 Preparing ASEAN businesses towards an integrated economy
Dr. Lim Hong Hin, ASEAN Deputy Secretary-General for the AEC
How is the ASEAN region progressing towards the AEC in 2015? How is the present global financial environment affecting the region’s outlook and plans in terms of trade liberalization, investments flow, and movement of labor in the AEC? How involved is the ASEAN business community in these efforts? What are some of the best practices that the private sector has initiated to prepare for the integration?
(10 minutes for Q&A)
09:25 10:00 Impact of AEC and identifying measures to ensure competitiveness
• Ysmael Baysa, Chief Finance Officer and Vice President of Corporate Finance of Jollibee Foods Corp.
• Jay Yuvallos, President, YZ Global Resources, Inc.
What is the extent of the impact of the AEC on the Philippines? How ready are local businesses and industries to compete in the AEC and take advantage of its opportunities? What policies and infrastructure are needed to help businesses stay competitive as the ASEAN economies integrate? What are the practical steps that businesses need to take to ensure competitiveness in an integrated ASEAN economy? How can the private sector be involved in preparing the Philippines for the integration?
(10 minutes for Q&A)
10:00 11:00 Panel discussion and reaction
John Forbes, Senior Advisor, American Chamber of Commerce of the Philippines
Olive Collantes-Ramos, President and Managing Director, DHL Exel Supply Chain
Nestor Tan, President, BDO Unibank, Inc.
Dr. Bernardo Villegas, Professor, University of Asia and the Pacific
Malcolm Ward, Executive Director, APAC Practice Development, Grant Thornton International
(15 minutes for Q&A)
11:00 11:30 Laying out the groundwork for a competitive Philippine business sector
The Honorable Adrian Cristobal, Undersecretary of the Department of Trade and Industry
What is the government’s strategy to ensure that local industries benefit from an integrated economy? What are its policies and programs vis-à-vis the concerns and critical areas noted by the private sector in relation to the AEC? How is it preparing for the AEC? How is it doing in terms of the AEC Blueprint Scorecard? How can the government further partner with the private sector in ensuring industry competitiveness in the region?
(10 minutes for Q&A)
11:30 11:40 Closing Remarks
Benjamin Punongbayan, P&A Founder
Lim: ASEAN region's real income will increase by US$6.9-B when AEC is realized by 2015
Lim: ASEAN community is a work in progress. It took Europe 40 years to establish an integrated market
Lim focuses on a large trade agreement China, Japan, Korea, India, Australia and 10 ASEAN partners are trying to form. "It gives the sense that we are trying to move forward."
I wish Lim tackled the question a bit more directly. Just as I'm thinking this Ressa asks if ASEAN is strong enough to police the free trade agreement.
Lim is asked if common ASEAN currency will be helpful in market integration
Lim says the time is not right for a common currency in ASEAN.
Lim on common currency: "We still have a long way to go"
Lim does want ASEAN to work towards a common currency but admits it is a way off.
UA&P's Bernardo Villegas raised the issue of the entry of foreign investments in the country after a Supreme Court decision limiting further foreign ownership in public utilities