The EU-ABC recommends ASEAN Member States allow for freest possible flow of data, faster development of digital infrastructure and opening to increased foreign investment, common standards and approaches to e-Commerce, and enhancements in education to equip the people of Southeast Asia to meet the increasing demands of the digital age.
28 June 2019 – Following on this year’s theme for ASEAN “Advancing Partnership for Sustainability” and the strong focus from Thailand on Industry 4.0 under its Chairmanship of ASEAN, the EU-ASEAN Business Council (EU-ABC) today launched its second paper by its Digital Economy Advocacy Group entitled, ‘Growing a Stronger Digital Future in Southeast Asia’. The paper focuses on the creation and growth of a strong digital economy in ASEAN to boost economic growth and development in the region, and is being published on the occasion of the EU-ABC’s Annual General Meeting and Gala Dinner. The Gala Dinner is being attended by Minister S. Iswaran, Singapore’s Minister-in-charge of Trade Relations.
Commenting on the EU-ABC’s recommendations set out in the paper, Mr Donald Kanak, Chairman of the EU-ABC, said:
“European businesses appreciate the opportunity to contribute to healthy development of the Digital Economy in ASEAN. Creating the right policy environment for healthy development of the Digital Economy is critical for ASEAN’s international competitiveness and long term growth. Digital eco-systems require public and private collaboration, investment in infrastructure and education and constant focus on both accessibility and security.”
Executive Director of the EU-ASEAN Business Council, Chris Humphrey, added:
“Just as consumers are hungry for cheaper and faster delivery of goods and services, companies are faced with lagging infrastructure, institutions, and human capital development to meet the demands. While the foundations are being laid to support the digital economy, both the public and private sectors must co-operate to build a consistent and highly efficient system that empowers consumers, businesses, and governments by allowing for the freest possible flow of cross-border data, ensuring that the right infrastructure is in place to support the digital economy, and adopting best practices to ensure the smoother and faster flow of e-Commerce.”
The paper notes that “there are several areas where further regional development and collaboration is needed if ASEAN is to get the greatest possible benefit out of the digital economy. Creating an eco-system to encourage businesses to develop digital platforms to enable them to reach new markets and consumers, exchange and interpret effectively data, make and receive payments in a speedy and low-cost manner, while meeting the increasing demands and expectations of end-consumers, is of vital importance.”