We have been saying for a long time that it is important to get ready for the Asean Economic Community (AEC), which is scheduled to start on January 1, 2016. Association of Southeast Asian Nations (Asean) has achieved world­wide recognition for being one of the most dynamic and integrated regions.

The growing purchasing power of the 600 million consumer market and the ongoing progress of the regional agenda are offering an integrated market and production base for both business and consumers.

In this context it is disheartening to read the 2013 study of the Asian Development Bank (ADB) and the Institute of Southeast Asian Studies. On the more acceptable side they say: "Although the self-imposed deadline for the realization of the AEC is 2015, it should not be viewed as a hard target.... Rather, 2015 should be viewed more as a milestone year—a measure of a work in progress." The tough one is the conclusion: "Asean has no prospect of coming close to a single market by the AEC's 2015 deadline—or even by 2020 or 2025."

The European chambers of commerce in Asean, including the European Chamber of Commerce of the Philippines (ECCP), however, are taking the AEC development seriously. We formed an EU­Asean Business (EAB) Council already in 2011 and launched the first Asean­EU Business Summit in Jakarta that year. The success of the summit in Jakarta in 2011 and of the second and third in Phnom Penh in 2012 and Hanoi in 2013 have shown that these events are a unique chance for the business communities of Asean and EU to interact and directly convey their views, concerns and wishes to economic leaders of the two regions.

It would be great to have one in Manila toward the end of this year.

Understanding the importance of AEC, (Asean's total gross domestic product is estimated at $2,339 billion in 2012; total Asean trade was $ 2.4 trillion in 2011) the European chambers in Asean and European businesses that are active in many of the Asean countries decided in Hanoi to strengthen the EAB Council and establish its own secretariat by early 2014. The tasks of the council are:

•  It will act as a platform between European businesses and European chambers of commerce in Asean with a view to advocate European business interests in the region;
• The council will identify through regional working groups the key regulatory issues and barriers that affect or may affect European businesses operating and investing in the Asean region;
• It will undertake advocacy in Asean on behalf of its members (multinational companies and European chambers) and liaise with EU and Asean administrators (EU Commission, Asean Secretariat, member­states, etc.), business groups and related parties by originating, promoting, supporting, anticipating or addressing key policies, laws, regulations or developments which would affect its members;
•  It will build networks and develop awareness within Asean and the EU by organizing relevant events; and
• It will assist Asean businesses that are interested to invest or to do business in the EU, along the same lines stated above.

During the summit in Hanoi on April 8 and 9, 2013, EAB Council members handed over to Asean and EU leaders position papers on:

• Agri­food
• Automotive
• Financial services
• Information and Communication Technology
• Infrastructure/Connectivity
• Pharmaceuticals

Within the EU­Asean business perspective, we are happy that the European Parliament/European Commission are funding a project in most Asean countries to bring European small and medium enterprises (SMEs) closer to Asean SMEs. More specifically, the goal is to identify business opportunities per Asean country and for the Asean region, make these opportunities visible in the 28 EU member­states and then assist the European SMEs into the Asean markets of their choice. Part of the project is also to create a level playing field for these European SMEs, to remove technical and other barriers to trade and investment and to foster business­to­business cooperation with Asean SMEs.

In the Philippines, we have launched the EU­Philippines Business Network that will implement the project. Involved are all European business organizations in the Philippines. The objective is to match European and Philippines SMEs in partnerships that will allow stronger market positions in this country and at the same time provide the basis to successfully benefit from the market opportunities the AEC offers.

We have started organizing sector committees that will look at the business opportunities on one side and at barriers to entry on the other. The position papers mentioned above will form the basis for six of the committees; eight other committees will work on their own perspectives and will eventually share their views with the colleagues in the Asean region and with the EAB Council.

Source: Business Mirror, 08 May 2014