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PM: ASEAN members need to consider more economic and trade facilitation
The Association of Southeast Asian Nation (ASEAN) needs to think more about strategically restoring and promoting combined economic growth now and after the end of the COVID-19 crisis, said Prime Minister Hun Sen during the Special ASEAN Summit on the impact of COVID-19.
“ASEAN must accelerate the implementation of existing plans and mechanisms as well as promote regional economic integration, remove non-tariff barriers and enhance overall trade facilitation,” Mr Hun Sen said, via video conference on Tuesday.
Mey Kalyan, senior advisor of the Supreme National Economic Council, said that it is very good policy direction by the Cambodian Prime Minister to cope with COVID-19 now and after.
He said that while such implementations could face some difficulties at the start, he is sure member countries will adjust and improve over time.
“For me, this video meeting is one of the positive impacts of COVID-19. It brings all ASEAN countries together… to find a solution to this common threat, similar to climate change. In fact, it
has to be responded to by
all countries, but ASEAN nations should start with what we can do first,” said Mey.
“Now China has recovered slowly and its economic activities are underway, I am optimistic that Asia and the world will overcome this COVID-19 issue very soon,” he added.
Prime Minister Hun Sen said that ASEAN nations also needed to promote the micro, small and medium enterprises (MSMEs) and innovation-based business start-ups, in an effort to promote public-private partnerships in the digital economy, human resource development and digital professionals.
Mr Hun Sen added that Cambodia’s agro-processing industry sector is still underdeveloped and there are many opportunities for investment, from research and development to transportation and marketing.
Keo Mom, chairwoman of LyLy Kameda, a Cambodian-Japanese firm and a leading snack manufacturer, told Khmer Times that the mechanism to promote the MSMEs has been aided by the government with the establishment of the newly launched SME Bank of Cambodia to assist local SMEs with their finances.
Keo added that compared with the SMEs in ASEAN, Cambodian businesses can be slow to develop in terms of techniques and standard and quality of products. She also said that Cambodia imports products too easily and has too-strict requirements on its exports to some countries in ASEAN.
“Out of the ASEAN nations, Lao PDR, Myanmar and Cambodia are weak in terms of SMEs, therefore, we are losing the opportunity if we do not expand and strengthen our quality. We need to expand ourselves quicker and this is where
the SME Bank can play a very strong supporting role,” she said.
Other countries should understand Cambodia is still a developing nation and is preparing to improve its standard of exports, therefore they should assist in the exchange of our products, she added.
Source: https://www.khmertimeskh.com/50713727/pm-asean-members-need-to-consider-more-economic-and-trade-facilitation/