We are pleased to have Noel Clehane, Global Head of Regulatory & Public Policy, BDO with us on our Interview Series.
In this extensive interview, Noel provides professional insight and thoughts on ASEAN related matters, ranging from how COVID-19 has reshaped the professional advisory industry to ways in which the European Union can collaborate with ASEAN to drive strong economic recovery post-pandemic and what ASEAN must do to emerge from the pandemic stronger.
Noel shares that from an advisory perspective, businesses saw assistance with business continuity, support (ranging from health access to government support) and the need to rework business strategies to adapt to the new norm. For instance, BDO’s servicing of clients remotely via technology. Noel elaborated on the challenges faced in the traditional service of auditing with the main challenge being making judgments of valuations and assessment of businesses in a fast changing and unpredictable environment.
On ways the EU can collaborate with ASEAN to drive strong economic recovery, Noel pointed out that the EU and ASEAN are natural partners and the many ways that the EU and ASEAN have been collaborating already to ensure synchronised and strong recovery. Some areas to look into ranges from the coordinated reopening of air travel, the ASEAN Customs Transit system to the review of non-trade barriers and measures that inhibits trade between the blocs.
For the region to emerge stronger, ASEAN needs to drive economic integration harder, with the need for intra-regional barriers and protectionist measures to be eliminated. A more concerted effort to get momentum on ASEAN economic community blueprint and the facilitation of trade rather than taxing it being more widespread through the region are also factors to consider. Lastly, consolidated policy positions on economic matters and linking policies to sustainable agenda would help drive growth for the region.
Stay tuned, more exciting interviews in the series coming your way!