The study delved deeper into the sentiment on services trade liberalization, focusing on key service sectors such as the financial services and tourism services.

In his opening remarks, Deputy Secretary-General of ASEAN for AEC Satvinder Singh revealed that the study shows the majority of indigenous enterprises are pleased with the current integration level and look forward to the further enhancement and expansion of the integration initiatives.

He noted some areas for improvements identified in the study, particularly on the challenges of indigenous enterprises in getting access to information and understanding of the ASEAN initiatives and agreements, so that they can further take advantage of ASEAN’s prevailing trade and investment facilitation.

At the seventh ASEAN Economic Community (AEC) Dialogue

Deputy Director General of International Trade Khuon Virak, from the Cambodian Ministry of Commerce, also shared priority economic deliverables under Cambodia’s Chairmanship 2022 to the private sector.

The discussion highlighted the need to simplify licensing procedures to promote regional investment, harmonization of data sharing regulations, upskilling digital talent, and creating conducive policy ecosystem to accelerate ASEAN’s indigenous enterprises’ business growth.

Meanwhile, the panel discussion on tourism services underlined the low awareness of Mutual Recognition Arrangement for Tourism Professional and the need to accelerate the reopening of the border in a safe manner to restart the tourism industry post COVID-19 pandemic.

Both discussions noted the attraction of ASEAN to global investors and affirmed that further integration will boost the financial and tourism sector even further.

Source: VNA