Asean Circle to brainstorm new ideas for AEC

KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) will establish the Asean Circle, a programme to brainstorm new ideas, with the aim of increasing trade among the Asean Economic Community.

Minister Datuk Seri Mustapa Mohamed, said the programme which would be launched on June 18, was expected to be attended by some 40 corporate figures, academicians and top government think tanks to conceptualise new ideas through regular discussions and brainstorming sessions.

“We will also focus on matters pertaining to non-tariff measures which pose hurdles to trade between Asean countries.

“Despite the progress we have made so far, there is still improvements to be made and I plan to meet with the Asean secretariat in Jakarta to further iron-out non-tariff issues that could hinder AEC from becoming a reality, “he told reporters on the sidelines of the seminar on AEC yesterday.

On the promising growth and liberalisation of tariffs among Asean member states, intratrade Asean remained stagnant between 20 and 25 per cent due to non-tariff measures between the countries.

The seminar themed, “Spreading Your Wings in Asean: Land of Opportunities” was aimed at inspiring Malaysian entrepreneurs, especially among micro, small and medium enterprises, to explore and expand their businesses in the Asean market.

This year marks the 50th anniversary of Asean themed, “Partnering for Change, Engaging the World”.

Asean, with 630 million population, has grown rapidly and registered a strong Gross Domestic Product growth of 4.7 per cent in 2016. — Bernama