Region to see unequal benefits from integration

South East Asian nations were rapidly becoming economically interdependent and developing a stronger voice, but not everyone was benefiting from the process, a conference in Ha Noi was told last week.

Participants heard that South East Asia – one of the fastest growing economic regions in the world – was undergoing a complex multi-layer integration process which could create enormous business opportunities and accelerate regional growth and development.

But work was needed to maintain the growth and economic stability, and modernise vocational training, health and social security systems in order to help the poor and foster the welfare of everyone in the region.

More than 200 people in key positions from all over South East Asia were at the three-day conference to discuss the issues and rules, training and education and the role of the media.

The participants were from spheres of politics, business and civil society.

The conference was a capacity-building programme run by InWEnt, a non-profit organisation dedicated to human resource development, advanced training and dialogue.

InWEnt managing director Bernd Schleich said regional integration could only be successful if people in the region contributed to deepening cross-national ties, and if individuals took on leadership and built networks around the region.

Mekong Institute director Suchat Katima said that over the last two decades, trade and investment had been the driving force of rapid economic growth in the region.

He added that economic co-operation and integration within the greater Mekong subregion of Cambodia, China (Yunnan and Guangxi), Laos, Myanmar, Thailand and Viet Nam, which was at the centre of the growth triangle, could, with its neighbours, create enormous business opportunities and accelerate regional growth and development.

“Free trade and investment agreements in subregions would facilitate more economic links,” Katima said.

He cited an Asian Development Bank survey this year which revealed that more than 3,000 Asian pundits believed the benefits of strengthening economic interdependence outweighed its costs, that it would speed up development and give Asia a more co-ordinated and stronger voice.

“Regional integration is also perceived as helping to reduce poverty and improve social indicators.”

Katima said diversity and complementation, plus competitive advantages in location and technology and connectivity were major factors in integration.

“Essential skills, knowledge, and abilities required for today’s workforce are far more different and more complicated than those in the past,” he said. — VNS

Tags: South East Asian