ASEAN Region Will Be More Competitive With Members Complementing Each Other: Federation Of Japanese Chambers

KUALA LUMPUR, July 31 (Bernama) – ASEAN member states will transform into a more competitive region and become the best investment destination by complementing each other.

Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA) chairman Takero Sawamura said during the 16th dialogue between FJCCIA and secretary-general of ASEAN Dr Kao Kim Hourn, that in order to maximise ASEAN's competitiveness and attractiveness, regional integration is of key importance.

“For this reason, FJCCIA would like to support the ASEAN Economic Community (AEC) Post-2025 Agenda,” he said in a statement.

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On July 17, FJCCIA held a dialogue with Kao at the ASEAN Secretariat in Jakarta.

Representatives from nine ASEAN chambers, including the Japanese Chamber of Trade & Industry Malaysia (Jactim), gathered to discuss ways in which Japanese companies can contribute to the future sustainability of ASEAN and human resource development, as well as potential improvements to systems and rules to make ASEAN an even more attractive business destination.

The FJCCIA consists of 10 Japanese Chambers of Commerce and Industry (JCCIs) in nine ASEAN member states with 7,370 companies in total.

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The Japan External Trade Organisation (Jetro) facilitated the dialogue as an intermediary between Japanese companies operating in ASEAN, the ASEAN Secretariat and various stakeholders.

Sawamura noted that from a long-term perspective, the FJCCIA is greatly interested in the formulation of the “AEC Post-2025 Agenda”, which will chart the path beyond the AEC Blueprint 2025.

The AEC Blueprint 2025, since its adoption in 2015, charted the strategic path for ASEAN's economic integration and work is in progress now for Asean policy makers in the development and preparation of the post- 2025 agenda.

Six Pillars of recommendations for AEC Post-2025

“In this FJCCIA’s Requests and Proposals 2024, we have developed a set of recommendations based on six pillars in anticipation of the AEC Post-2025 Agenda,” Sawamura said.

The proposals outlined by FJCCIA were also developed in alignment with the economic components of the ASEAN Community Vision 2045, which outlines future strategic direction of ASEAN’s economic integration, he said.

The six pillars proposed by FJCCIA for the ASEAN economy, he disclosed, comprised a seamlessly connected single market and production site, green economy and sustainability, digital economy and innovation, and emerging technologies.

It included proposals for ASEAN playing an active role in the global community with resilient and abundant human resources and inclusive and equitable development.

FJCCIA proposed for the elimination of non-tariff barriers and cutting down market distorting policies.

To promote green economy and sustainability, FJCCIA proposed for the facilitation and systems for the trade of renewable energy, electricity certificates and carbon credits in a wider region.

In the promotion of digital economy, proactive implementation of countermeasures against counterfeit goods on e-commerce sites was proposed.

It also suggested developing legal framework and system for digital data and governance as well as strengthening supply chain connectivity and resilience.

 Sawamura, who is also the president of Jactim, proposed for the electronification for receiving and issuing the specified certificates of origin for the Regional Comprehensive Economic Partnership (RCEP) Agreement involving countries in the Asia-Pacific region and the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement.

He is also the deputy chief executive officer of MSIG Insurance (Malaysia) Bhd.

FJCCIA’S Vision on ASEAN

FJCCIA said 2023 saw the formulation of “ASEAN-Japan Economic Co-Creation Vision” by the Japanese public and private sectors.

“This vision aims to build a secure, prosperous and free economy and society through fair and mutually beneficial economic co-creation, with the trust ASEAN and Japan have nurtured over the past 50 years of friendship and cooperation as driving force,” it said.

In support of this vision, the FJCCIA, as a member of ASEAN economic system, would like to make an active contribution through sharing practices for economic growth and overcoming social challenges and being grounded in diverse realities and geopolitical conditions of the region.

It would also like to promote two-way exchange of human resources to bring mutually beneficial innovations.

A survey conducted by member companies under FJCCIA revealed that business confidence deteriorated in 2023 due to factors such as dampened demand in the local market but is expected to recover in 2024.

According to the survey, efforts toward carbon neutrality and dealing with decoupling also need to be addressed as urgent issues.

-- BERNAMA