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“Bangkokians would like to see preparations for joining the AEC at both an individual and national level,” society president Viriya Vorakittikun said yesterday.

The “ThaiView” survey was conducted from March 27 to April 17 on 400 people in Greater Bangkok aged 18 and up, with household income of Bt10,000 per month on average.

Those aged 25-49 were the least aware of the AEC.

The advantages of becoming a member of the AEC included the belief that overall, Thailand’s economy would improve (81 per cent), that Thailand would become more technologically advanced (78 per cent), that Thais would have more opportunities to work in other Asean countries (78 per cent), that Thailand would have more energy security (52 per cent) and there would be fewer border-related problems among neighbouring Asean countries (46 per cent).

The perceived drawbacks included a greater “brain drain” out of Thailand (65 per cent), more epidemics (45 per cent) and more problems with security of life and assets (43 per cent).

Preparation at an individual level relates to the need to become more efficient in the way Thais work (68 per cent) and the need to learn English…

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Against a backdrop of the financial crisis engulfing the euro zone and the US’ economic woes, the World Economic Forum on East Asia 2012 was

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dominated by discussion of Asia’s unrivalled strengths, attributed to intra-regional connectivity and lessons learned during the 1997 financial crisis.

Myanmar’s opening up is another factor boosting Asia’s attractiveness. According to a source, the next WEF on East Asia will take place in Myanmar’s capital, Nay Pyi Taw.

Asean leaders at the opening ceremony agreed they must pursue greater connectivity to build up immunity against external shocks and catastrophes.

At the ceremony, Prime Minister Yingluck Shinawatra said connectivity has become more crucial amid challenges from the euro-zone crisis, climate change and others.

“We must continue to promote regional cooperation and integration,” she said. “To support regional connectivity, we need to reinforce connections at home.”

Joining her at the ceremony, Indonesian…

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At the World Economic Forum on East Asia session on “East Asian Models for Transforming the Global Economy”, Gerard Mestrallet, chairman and

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executive officer of GDF Suez, a French multinational electric-utility company, and co-chairman of the forum, attributed decades of peace in Europe to its integration. Still, he foresees deeper integration.

Moreover, the current woes surrounding the single currency are a good lesson for Asean on the mistakes they should avoid, he said.

Eswar Prasad, a professor at Cornell University in New York state, said Asean integration “will not only draw capital but also strengthen domestic resilience”.

While praising the region’s rising prominence and calling for less protectionism to propel growth, Pascal Lamy, director-general of the World Trade Organisation, said regional growth could be sustained by regional interdependence. With a combined gross domestic product of US$3 trillion (Bt93 trillion), a wealth of natural resources and a demographic…

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Bangkok Post

While Thailand is not far behind other Southeast Asian nations in terms of awareness about the potential of AEC, educational preparedness has to be increased, said Asean secretary-general Surin Pitsuwan.

“English is the working language of Asean, and the Thai educational system has to prepare the younger generation to be competitive [in this area],” he said at a forum yesterday at Chulalongkorn University’s Faculty of Arts.

“The educational system has to teach students to be more analytical rather than rote learning so they will be able to think for themselves and make a decision.”

At the same time, small and medium-sized enterprises (SMEs) need support from the government to invest in the Asean region.

“Access to finances must be strengthened for SMEs to go out and invest cross-border. You have to give them support,” he said.

Political stability is also critical. Frequent changes of political leadership are not good for the country in terms of confidence and productivity, he added.

Olarn Chaipravat, Thailand’s Chief Trade…

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The projection is based on the assumption that the government helps lead the private sector to operate businesses in Asean by offering one-office service to assist Thai companies in business registration, licences for trans-border movement of goods and regulation troubleshooting.

“The actual operation of such an office could be done by the private sector, with smaller companies paying lower fees,” said Mr Tos at a seminar on the future of Thailand after the Asean Economic Community in 2015.

He said countries with high potential for investment include Vietnam, Myanmar, Cambodia and Laos, which have a combined population of 200 million. These countries are familiar with Thai products, so Thai companies should speed up their investments in Asean.

However, it is not easy to access these markets without the assistance of their governments, and Thailand still lacks the cooperation to develop these market and Thai brands.

Mr Tos said CRC, which also…

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The Nation

Representatives of 60 governments in the region are attending the 68th session of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) against a backdrop of stalling growth in developed countries together with high and fluctuating commodity prices threatening Asia-Pacific economic dynamism and progress towards international development goals.

“If 2011 has shown us anything, it is that Asia and the Pacific is again confronted by a deeply challenging external environment, and that the path to shared future prosperity can best be travelled together,” United Nations Under-Secretary-General and ESCAP Executive Secretary Noeleen Heyzer said in her address to the Senior Officials Segment of the Commission session.

“Regional solutions, through regional cooperation, are the way for us to forge more sustainable economic growth, close development gaps, and lift tens of millions of people out of poverty. Let’s work together for an inclusive, resilient and sustainable future for Asia and the Pacific – where we grow together and share collective prosperity.”

The May 17-23 ESCAP Session which has as its theme ‘Growing together – Economic integration for an inclusive and sustainable…

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Doubling the regional financial safety net to US$240 billion is credit positive for CMIM member states, particularly Asia’s weaker sovereign credits such as Vietnam (B1 negative), Cambodia (B2 stable), Laos (unrated) and Myanmar (unrated), said their analysts. The agreement was reached…

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Bangkok Post

forming private-public sector partnerships.

China’s private consumption alone is forecast to be worth US$9 trillion by 2020, up from $2 trillion in 2010. As the region matures _ amid economic turmoil in the EU and sluggish growth in the US _ global companies are casting their eyes eastward to become integral, long-term players.

PwC analysis and findings from Oxford Economics show that the top business priorities are more sustainable energy and redoubled efforts to improve health care, transport and labour forces into the 21st century. The message from ministries and boardrooms is clear: these advancements will occur only through private and public-sector cooperation.

A fresh look at Asia-Pacific: Businesses are expanding locally, reflecting Asia-Pacific’s intraregional growth. Asia-Pacific economies are growing and becoming more integrated and exports among Apec economies are forecast to make up 71% of all exports by the Asia Pacific Economic Cooperation economies in 2020, up from 67% in 2010, based on PwC’s 15th Global CEO Survey in November 2011.

Higher regional trade volumes are creating larger and more complex trading channels. And it’s not just China. Vietnam _ fast becoming a destination for retail and technology manufacturing _ is adding its threads to the web. Its exports to Apec countries are forecast to rise more than twelvefold from 2000 to 2020 to $120 billion, with the biggest flows to Korea, China, the Philippines…

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The AEC Blueprint is a master plan for the development of the single market

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and establishes targets and timelines for member states.

It was signed on Nov 20, 2007 at the 13th Asean Summit in Singapore.

Director-general Srirat Rastapana said domestic rules and regulations must be amended prior to the establishment of the single regional market in 2015.

“Thailand has not yet restructured its regulations in preparation for the AEC because some companies are afraid of liberalisation,” she said.

“If Thai businesses are not ready for liberalisation, then they will miss out on the benefits of economic integration.”

Relevant reforms may be proposed for consideration at the 44th Asean Economic Ministers meeting, to be held in Phnom Penh in August.

Thailand is forming a working group with representatives from the government, the private sector and academia to address legal reforms.

The group is working in parallel with the Council of State and parliament to speed up the overall process.

Pornsil Patchrintanakul, a vice-chairman of the Thai Chamber of Commerce, said the private sector is greatly concerned about laws and regulations related to the Customs Department.

Companies have found customs laws are inconsistently applied, especially when it comes to tariff rates.

Companies can seek advance rulings…

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them.

The AEC will result in the free flow of skilled labour within Asean member countries after it comes into effect in 2015. Skilled workers and professionals are expected to flow into the Kingdom, especially from Singapore, Malaysia, Brunei and the Philippines. Service careers such as nursing and dentistry are expected to see particular movement, resulting in high competition in the local workforce.

Assistant Professor Aat Pisanwanich, director of the Centre for International Trade Studies at UTCC, said in-depth interviews had been conducted with seven or eight respondents from each of six service careers that are under the Asean Mutual Recognition Arrangement on Services. They are dentistry, medicine, nursing, accountancy services, engineering and architecture.

Aat said Thailand had yet to prepare for the new challenges that will be presented by the AEC.

He said the survey found that only 50 per cent of dental practitioners in Thailand had a good understanding of the AEC and most of them saw no real benefit from it to their careers.

More than 50 per cent of medical practitioners did anticipate some benefits from the AEC. However, they preferred to stay in Thailand rather than other Asean countries because of the Kingdom’s high standards of medical services. They also don’t want to have to adjust to new cultures. Many want to go to developed countries in North America or Europe when they upgrade…

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