In the run-up to the launch of the ASEAN Economic Community later this year, the Business and Industry Advisory Committee to the OECD, led by Chair Phil O’Reilly, contributed actively to a series of OECD Southeast Asia Regional Program events held in March in Jakarta, which focused on economic integration in the region. O’Reilly emphasized the importance of this OECD initiative and the benefits that come with good economic governance in the region.
A joint Business Statement by BIAC, the Indonesian Chambers of Commerce and Industry (KADIN), and the ASEAN Business Advisory Council (ASEAN BAC), was presented to regional policymakers and sets out five important steps for economic integration in Southeast Asia. The Business Statement encourages closer cooperation between Southeast Asian countries and the OECD.
Last month the OECD also released its latest Economic Survey on China. Many of the priorities raised by the BIAC China Task Force during the early drafting stage are reflected in the Economic Survey, such as recommendations that all firms should be allowed to compete on a level playing field, and that China needs to scale down state-ownership in commercially-oriented service enterprises and open up more industries for private investment.
USCIB is BIAC’s American affiliate.