ASEAN-EU Business Summit 2017

With the Philippines being the Chair of ASEAN for 2017, all eyes are on the first big event which will happen on 8 to 11 March 2017. It involves a series of summits/meetings, such as the Meeting of ASEAN Trade Ministers, the ASEAN-EU Senior Officials Meeting (AEM) and the 5th ASEAN-EU Business Summit. Here are some ideas for the Summit for the consideration by potential partners.  

Alongside the AEM Meeting where EU-Commissioner Malmström will be present, the European Chamber of Commerce of the Philippines (ECCP) and partners from the Philippines, ASEAN and the EU will organize the one-day event. Among the partners will be EU-ASEAN Business Council and the ASEAN Business Advisory Council.

Similar to earlier editions of the ASEAN-EU Business Council, there will be a mix of key note addresses and panel discussionsinvolving ASEAN and Philippine government officials, representatives of the EU Commission and the EU Delegation, ASEAN and EU business leaders, B2B meetings between European and Philippine/ASEAN companies.

In the next few months, we will select the sectors to be presented and discussed at the ASEAN-EU Business Summit. Some industries we have identified already:

* Automotive * Agriculture* Food & Beverages* Healthcare* Infrastructure / Logistics

* Manufacturing

* Financial Services

* Energy

* Water

Who should participate in the Summit?

* Business leaders from European and ASEAN businesses

* Regulatory/Government Affairs leads

* ASEAN Business Advisory Council members

* ECCP members, including those in Cebu / the Visayas

* EU-ABC Members

* Government officials (ASEAN and EU member states) Ambassadors

* ASEAN Economic Ministers

* DG Trade Officials

* Media

As we move closer to this big event, let us just look at the size of the ASEAN-EU Relationship again:

The ASEAN-EU Investment Relationship - the EU is the largest source of FDI funds to ASEAN; given the Duterte Administration's interest to attract more FDI, the EU investors will have to be targeted, given the fact that the EU's FDI inflows to ASEAN reached US$ 29.3 billion in 2014, representing 26% of total inflows.

The ASEAN-EU Trade Relationship - Europe is ASEAN's second largest trading partner with Euro 1.6 trillion in goods from 2004-2014, representing a share of 14% of ASEAN's external trade.

It will also be important to realize the areas in which regulatory/administrative changes can be made to improve the environment for investments and trade:

* Customs and Transit issues - the implementation of the National Single Window is high on the agenda;

* Non-tariff barriers - work to promote ASEAN Trade Repository among members;

* Healthcare & Life Sciences -harmonized regulatory & testing regimes; market entry restrictions;

* Financial Services Liberalization, Insurance and Tax Issues - removal of restrictions on the insurance market, payment & settlement systems, long-term investment constraints, taxation co-operation & excise duties;

* IPR & Illicit Trade - enforcement mechanisms; protecting IPR, highlighting counterfeit and illicit trade issues;

* Digital innovation - ICT regulation, e-commerce;

* Automotive - harmonized regulations and testing regimes, national automotive policies, skills shortages.

ECCP is looking for local partners - business organizations that are interested to be part of this event that will also focus on SME cooperation, involving Europe, ASEAN countries, including the Philippines. Partners from the Visayas may wish to partner with us too!

One may get in touch with Rosemel Calderon, Branch Manager of the ECCP Visayas office at 253.3387 or 253.3389 or email me at [email protected] for more details.