The Knowledge to Decide

The establishment of ASEAN Economic Community (AEC) in 2015 was a major milestone in the region’s economic integration. With a GDP of USD2.6 trillion and 600 million people, the AEC is Asia’s third largest economy and the seventh largest in the world. What is the AEC score card thus far? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in China Daily – Asia Weekly. AEC’s Blueprint 2025 envisions in achieving a highly integrated and competitive regional economy with enhanced connectivity to improve market access for ASEAN companies to sell goods and services. However, the past year has seen missed opportunities to accelerate progress for cross-border investment between ASEAN countries, speeding up the harmonization progress of non-tariff barriers as well as integrating a competition policy across ASEAN. Nevertheless, the AEC is making some progress. In time, it is well-placed to improve market access and provide the ASEAN groupin...

With the ASEAN Economic Community (AEC) coming into play, established lubricant suppliers expect a boost in the automotive sector. How will the AEC bloc impact the lubricant industry? Japnit Singh, Senior Director of Spire Research and Consulting, shared his insights on key trends in Lube Report Asia’s magazine. With the establishment of AEC due this year – it signifies a major step towards a free-trade zone. This 10-nation bloc will ensure free movement of goods and services, investment, flow of capital and skilled labor. At the same time, Singh remarked that slashes in high duties (up to 30-40 %) on automotive sector will result in increased demand for lubricant oil – forecasted to reach 3.5 billion liters by 2016. As a result, it is expected to lead to greater demand for Japanese automobiles that are assembled in Malaysia, Indonesia and Thailand. Furthermore, such developments could make ASEAN the world’s fifth-largest auto market as demand for automobiles continue to ...

The ASEAN Economic Community (AEC) aims to achieve regional economic integration by creating a single-market economy for freer movement of investments, skilled labor, capital as well as goods and services. Countries that possess qualified business resources are sure to benefit from this move. Is Indonesia prepared to provide a qualified workforce? Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, shared his views on Indonesia’s Koran Sindo. Indonesia – being one of the largest economies in the world – is set to become a major player in the region. However, the nation must gear up to face the upcoming regional integration for not only commodities and services but also manpower. Bahar opined that although the Indonesian workforce – which totals 90 million people – is acknowledged in terms of knowledge and professionalism abroad – at home – they get only minimum wage. This is why Indonesians need to adopt a more professional outlook and learn from the...