Phnom Penh, 2nd of April 2012
The 2012 AEBS held on Sunday the 1st of April has come
to a close with a list of recommendations in 4 key business sectors
that was handed over to the 10 present ASEAN Economic Ministers during a
two-hour session in the afternoon (please visit www.asean-eubizsummit.com to view and download the final position papers and recommendations from Tuesday, 3rd of April, 1pm).
Cambodia's Prime Minister Samdech Decho Hun Sen has
welcomed participants and officially opened the event, acknowledging the
importance of trade and investment between the two regions and
promoting the establishment of more free trade agreements between the
regions. EU Commissioner De Gucht has announced the start of bilateral
talks on a free trade agreement with Vietnam at the summit and confirmed
that regional free trade agreements remain a priority for the European
Union.
Organised by the Cambodian Ministry of Commerce, the European Chamber
of Commerce in Cambodia, the EU Delegation to Cambodia and the Cambodian
Chamber of Commerce, the 2012 ASEAN-EU Business Summit brought
entrepreneurs, investors and public policy-makers from both the EU and
ASEAN to Phnom Penh, where they discussed key issues related to ASEAN-EU
trade relations while identifying new business and investment
opportunities on both sides.
The summit has convened over 350 regional and international business
leaders. With an eye on the ASEAN Economic Community (AEC) planned for
2015, the private sector panels and working groups have made concrete
recommendations to the responsible ministers to move forward with an
open and improved ASEAN market in logistics (customs documentation
procedures, open sky agreements), manufacturing (standardisation of the
ASEAN regulatory regime in the sector), services and ICT (a common ASEAN
visa for foreign workers was stipulated, more investment in education
and skilled labor, alignment of regulatory procedures,
telecommunications) and Agri-business (capacity building in food
security, food inspection). Please visit our website for a complete
update on the recommendations.
ASEAN Secretary General Dr. Surin Pitsuwan, EU Commissioner for Trade, Karel De Gucht and Cambodia's Minister of Commerce and Chairman of ASEAN Economic Ministers, H.E. Senior Minister Cham Prasidh hosted the event which has been called a “great success” by the participants and organisers.
Cambodia's host to the event, H.E. Cham Prasidh, thanked the summit
organisers and participants for their expert input into the policy
making process, and promised detailed answers to the discussions from
the ASEAN economic ministers within the coming two months.
B2B Summit held on 2nd April
On the 2nd of April, a Business2Business (B2B) meeting with ASEAN and
European business leaders as well as leading Cambodian businessmen
established networks and discussions on the opportunities offered by the
Cambodian legal services’, tourism and the garment industry.
This event also featured an exclusive presentation on "Building Business in Myanmar" by Mr. Winston Set Aung, Economic Advisor to the President of Myanmar, and Mr. U Win Aung, President of the Union of Myanmar Federation of Chambers of Commerce and Industry. The popular session has introduced this exciting new market as a potentially major player within ASEAN.
Background:
ASEAN (Association of Southeast Asian Nations),
including Brunei Darussalam, Burma/Myanmar, Cambodia, Indonesia, Laos,
Malaysia, Philippines, Singapore, Thailand and Vietnam, as a whole
represents the EU's 3rd largest trading partner outside Europe (after
the US and China) with more than €175 billion of trade in goods and
services in 2010. The EU is ASEAN's 2nd largest trading partner after
China, accounting for around 11% of ASEAN trade. The EU is by far the
largest investor in ASEAN countries: European companies have invested
around €9.1 billion annually on average between 2000-2009. The total
stock of mutual investments between the EU and ASEAN exceeds €125
billion (US$ 167 billion).
The EU has increased its economic ties with South East
Asia by opening negotiations for Free Trade Agreements with Singapore
and Malaysia in 2010. These bilateral agreements are considered as
building blocks for a future agreement with the whole region: the door
remains open to start negotiations with other partners in the region on
comprehensive free trade agreements.
Cambodia, the host country of the second EU-ASEAN
Business Summit as ASEAN Chair in 2012, is a close partner for the EU.
Besides providing development assistance in many areas of co-operation,
the EU promotes trade to foster development by keeping its markets open
to exports from Cambodia and other developing countries and offering
tariff preferences. Most products from Cambodia enjoy duty-free and
quota-free access to the EU under the Everything But Arms (EBA)scheme,
a special trade preference scheme that the EU has granted to Cambodia
and other 47 least developed countries since 2001. In Cambodia the EBA
scheme has benefited the garments, footwear and textiles industries,
which accounted for almost 90% of Cambodian exports to the EU in 2011.
Increasingly, light manufacturing goods and rice are also being exported
to the EU.
Mr. Karel De Gucht visits Cambodia for the first time in his capacity as the EU Commissioner for Trade.
Mr. De Gucht will attend the 2012 AEBS, as well as hold key
consultations with ASEAN Ministers, in the context of the annual EU-AEM
meeting.
The European Chamber of Commerce in Cambodia (EuroCham)
was established in 2011 to represent European businesses and
entrepreneurs living and working in Cambodia. The mission of Eurocham is
to become a major resource for issues relevant to trade and investment
and business information in the country. Its objective is to act on
behalf of business organisations and individuals for business
facilitation, regulatory exchange and dispute resolution as well as to
promote European economic and cultural relations with Cambodia and vice
versa.
For high resolution photos, logos and other materials please check our website for more information,
or contact us at:
For general enquiries, logos, photos and press releases:
Brains Media Services Co. Ltd.
Ms. Chan Boramey
No. 6A Street 294
12301 Phnom Penh, Cambodia
+855 (0)98 334 220
For information on Eurocham Cambodia:
Eurocham Cambodia
Ms. Atanaska Kalcheva
Director
No.445, Phnom Penh Tower
Phnom Penh, Cambodia