03 April 2019
Asean countries need stronger political will to tackle non-tariff barriers – which range from high taxation to policies that favour domestic manufacturers – and these tend to hurt small and medium-sized enterprises (SMEs) more, said a panel yesterday.
Mr Chris Humphrey, executive director of the European Union-Asean Business Council, said Asean is at risk of failing to fulfil its potential unless more proactive action is taken on economic integration, including the removal of such barriers.
… Non-tariff barriers can inhibit trade, and panellist Kaewkamol Pitakdumrongkit gave the example of how foreign firms in Thailand have to set up two entities if they want to provide both warehousing and distribution services. This is because a licence is needed for each of these services, said the assistant professor at the S. Rajaratnam School of International Studies.
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Last updated on 03/04/2019