ASEAN should accelerate economic integration: IDEAS
The Institute for Democracy and Economic Affairs (IDEAS), a Malaysian think tank, on November 8 launched the ASEAN Integration Report 2022, highlighting the need for the 10-member regional grouping's leaders to accelerate the process of economic integration to realise the potential of a greater intra-regional trade, moving forward.
Kuala Lumpur (VNA)🍒 – TheInstitute for Democracy and Economic Affairs (IDEAS), a Malaysian thinktank, on November 8 launched the ASEAN Integration Report 2022, highlighting theneed for the 10-member regional grouping's leaders to accelerate the process ofeconomic integration to realise the potential of a greater intra-regionaltrade, moving forward.
IDEAS CEO Tricia Yeoh said through the ASEANIntegration Report, IDEAS is trying to encourage ASEAN governments to movetoward economic integration, believing that with the liberalisationof economy and services and access to greater goods and services, there is agreater economic prosperity for all. “It is important for ASEAN leaders to work together to continuetheir commitment toward further regional economic integration and tradereforms in the region, given the rise of protectionism and trade tensions inthe past few years, compounded by the spread of COVID-19 pandemic”, shesaid, adding that such an effort is very timely to offset the inward-lookingpolicies adopted by certain countries in the region in the midst of curbing thespread of the virus. Yeoh said to move forward with further trade integration in the ASEAN region, lowering of tariffs only is not enough, while stressing thatnon-tariff barriers need to be eliminated especially in the time ofemergencies. The ASEAN Integration Report, as part of ASEAN ProsperityInitiative, is a research study that evaluates the various aspects ofintegration in the ASEAN Economic Community (AEC) and the impact of COVID-19 oneconomic integration, as well as discusses policy recommendations movingforward. About the upcoming ASEAN summits, Yeoh hoped that they will deliberatethe issues contained in the ASEAN Integration Report, adding that a copyof the report will be given to relevant ministries./.
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CEO of IDEAS Tricia Yeoh (Photo: Internet) 
