ASEAN ECONOMIC COMMUNITY FORMATION PROGRESSING

CORRECTION - GRAFS 10 AND 11 SHOULD READ ASEAN AND NOT ASIAN


KUALA LUMPUR, March 17 (Bernama) -- Good progress is being made by several areas in the integration of economic sectors to create an Asean Economic Community (AEC), said Minister of International Trade and Industry Mustapa Mohamed Thursday.
They include pharmaceuticals, cosmetics and prepared foodstuff with the implementation of the Asean Cosmetics Directive to facilitate products traded in this sector.
"Asean is also strengthening collaboration and cooperation at the regional level on competition policy, consumer protection, intellectual property rights, taxation, infrastructure development, SME development and reducing the development gaps through various initiatives for Asean integration," he said.
In his keynote address at the Seminar on AEC and Malaysia's FTA Initiatives, here Thursday, Mustapa said substantial progress has been achieved in the integration of other economic sectors as well.
The sectors include transport, telecommunications, agriculture and forestry, healthcare, tourism and in the area of science and technology.
The text of his speech was read out by his deputy Mukhriz Mahathir.
Eight mutual recognition arrangements concluded are also being
operationalised in stages to facilitate more free flow of skilled workforce and professionals, he said.
The workforce includes engineers, architects, surveyors, nurses as well as medical and dental practitioners.
"Work has also started on having an agreement to facilitate temporary movement of skilled labour across the region."
On trade, Mustapa said Asean is working on creating a national trade repository system that would increase transparency in trade rules.
"Work is on-going to establish the Customs National Single Window and the Asean Single Window for speedier clearance of goods," he said.
AEC is a collective move by Asean member countries to create a regional economic environment by 2015.