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LIVE BLOG: The road to 2015 ASEAN economic community

  • 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
    - Philippines
    - Singapore
    - Thailand
    - Indonesia
    - Malaysia
    - Brunei
    - Vietnam
    - Cambodia
    - Laos
    - Myanmar
  • INDICATIVE PROGRAM: P&A CEO Business Forum, 23 October 2012

    08:00 Registration

    08:35 Introduction
    Host/Moderator : Maria Ressa, CEO & Executive Editor,

    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
  • Rappler CEO Maria Ressa opens the forum.

  • Marivic Espano starts her introduction, Road to 2015 ASEAN economic community
  • Last year's P&A CEO business forum projections of the Philippines to weather the economic crisis are now found to be correct
  • To gauge how our country's companies are doing today, we should look at how companies of other countries are doing. - Marivic Espano
  • We cannot tolerate complacency - Marivic Espano
  • P&A chair and CEO Marivic Españo delivers her opening remarks

  • His Excellency Dr. Lim Hong Hin talks about "Preparing ASEAN businesses towards an integrated economy"
  • The change in perception of the Philippines is definitely refreshing - Dr. Lim
  • AEC is a strategy for integration and a mean to an end - Dr. Lim
  • AEC is the best strategy for ASEAN to have a stable and prosperous economy - Dr. Lim
  • ACEA will turn ASEAN to be more attractive to investors - Dr. Lim
  • Dr. Lim Hong Hin, ASEAN Deputy Secretary-General for the AEC (ASEAN Economic Community)

  • AEC is not easy, 28% of AEC's measures are still ongoing this year 2012 - Dr. Lim
  • It does not mean that the whole region will change by the year 2015. That is not a correct interpretation of our agenda. - Dr. Lim
  • The process is to significantly decrease the barrier in between ASEAN member countries. - Dr. Lim
  • 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 Hong Hin: AEC can address high transaction costs that prevent businesses from coming to the region by streamlining processes and minimizing transaction costs.

  • Role of the private sector is critical; to take the lead in productivity, to address key concerns in market region and risk management
  • AEC is here to stay because of globalization, challenges may arise but the solution is manage it and we must embrace globalization - Dr. Lim
  • Dr. Lim leaves the audience with his final thoughts.

  • Dr. Lim says the Philippines is very much on track to achieving the AEC.

  • Level of implementation on the Philippines of Phase 1 of the AEC from 2008-2009 was up to 90%. - Dr. Lim
  • Lim Hong Hin sits down to take questions from the floor. Rappler CEO Maria Ressa moderates the discussion

  • Ressa asks for a question from the audience. Participant asks about overlapping territorial claims.

  • Over the overlapping territorial claims, is there a complete road-map that interfaces with your agenda with AEC?
  • 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
  • Is an ASEAN common currency part of the road-map regarding AEC?
  • 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.
  • An ASEAN single-currency is still a long way from now but, is something we could have to work towards. - Dr. Lim
  • Lim has emphasized all morning that private businesses must do their part to encourage integrated ASEAN.

  • The private-sector has a role to play; to promote and improve some of the risk management policies and problems. - Dr. Lim
  • 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
  • Despite all the differences, there is still the impression that we all want to move forward in terms of creating RCP. - Dr. LIm
  • It is early but the attendees' minds are sharp. Their questions are spot on.

  • Resources will be a major factor for ASEAN member countries in terms of a wider FTA. - Dr. Lim
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