On September 9, 2014

Lay out strategy for AEC, urges business club

KUALA LUMPUR: Asean Business Club (ABC) Co-Chairman Datuk Nazir Razak has urged the government to lay out Malaysia’s strategy for the Asean Economic Community (AEC), which will be a reality from next year.

He said Malaysia, the Asean chairman in 2015, should further push the country’s aspiration and contribution to making the AEC a more meaningful economic reality. t “We hope the government can lay out the strategy as to where we are going to be in the next 12 months,” he told the media on the sidelines of an ABC delegation visit to Malaysia and the launch of the “Lifting-The-Barriers Reports” here yesterday. Nazir, who is also CIMB Group Chairman, said the ABC, which is already working with AEC consultants, has submitted a report to the AEC secretariat urging Asean member countries to prepare all sectors involved in the AEC, including retail, automotive and manufacturing. Ministry of International Trade and Industry Secretary General Datuk Dr Rebecca Sta Maria said the government is now 83% ready in its preparation for the AEC and expects to be 90% ready by year-end.

“We have had discussions with other ministries, and the target is achievable,” she said, adding that the ministry has started work on non-tariff measures and non-tariff barriers.

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