ASEAN Scores 85% for Economic Community Scorecard

ASEAN has scored 85 percent for the ASEAN Economic Community (AEC) Scorecard, a quantified measure on the progress to realize the ASEAN economic integration by 2015.

Although a 100 percent score was yet to be achieved, ASEAN had done well by achieving 85 percent, said Malaysian International Trade and Industry Minister Mustapa Mohamed on Sunday following the conclusion of the 16th ASEAN Economic Ministers (AEM) Retreat.

According to earlier report, the official figure was 72 percent. Mustapa said there was progress in the last few weeks, and there had not been any major shortcomings and failures towards achieving the goal.

The participants focused their discussions on ASEAN centrality and ways to promote ASEAN as a single entity, especially when facilitating trade and investment into the region.

Mustapa had reiterated the need for ASEAN member states to comply with and implement their commitments on a timely basis.

He also voiced his concerns over ASEAN member countries adopting new trade measures which were deemed to be trade restrictive by the private sector, while proposing a more structural mechanism for ministers to consult and discuss concerns related to non-tariff barriers.

Meanwhile, Mustapa raised the need to work with the dialogue partners of ASEAN in China, South Korea, Japan, India, Australia and New Zealand to enhance trade ties.

The 16th AEM Retreat was held on Sunday with the participation of all the 10 ASEAN member countries. The meeting's outcomes will be conveyed to the 42nd ASEAN Economic Ministers Meeting and Related Meetings in Vietnam.