Local
companies will have more opportunities for regional expansion and
productivity enhancement under the Association of Southeast Asian
Nations economic integration, which will start next year, the National
Economic and Development Authority said Wednesday.
“Businesses in the Philippines can engage more in intra-regional trade, increase their market access within and outside of Asean, and expand their production capacities in the course of the Asean integration,” Economic Planning Secretary and Neda director general Arsenio Balisacan said in a speech.
He said businesses would benefit from the Asean economic community as logistics and policies would be more favorable.
The Asean region has a market of around 600 million people, with a combined gross domestic product of $2.2 trillion in 2011.
“Asean is now deemed as an ideal investment site and regional production hub. As the region becomes a more dynamic economic block, it becomes more attractive to the rest of the world as investors are expected to take advantage of economies of scale and the large number of consumers,” said Balisacan.
source: Manila Standard Today
“Businesses in the Philippines can engage more in intra-regional trade, increase their market access within and outside of Asean, and expand their production capacities in the course of the Asean integration,” Economic Planning Secretary and Neda director general Arsenio Balisacan said in a speech.
He said businesses would benefit from the Asean economic community as logistics and policies would be more favorable.
The Asean region has a market of around 600 million people, with a combined gross domestic product of $2.2 trillion in 2011.
“Asean is now deemed as an ideal investment site and regional production hub. As the region becomes a more dynamic economic block, it becomes more attractive to the rest of the world as investors are expected to take advantage of economies of scale and the large number of consumers,” said Balisacan.
source: Manila Standard Today
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