SMEs advised to seize advantages of Asean Economic Community
SMEs advised to seize advantages of Asean Economic Community
Laos must speed up preparations for participation in the Asean Economic Community, which comes into effect in 2015, by studying import and export management and learning about the advantages and challenges involved.
This was the advice given by the Director General of the Economic Research Institute for Trade, Mr Santisouk Vilaychaleun, at the opening ceremony of a two-day workshop in Vientiane yesterday.
He said broader knowledge was critical for both government-owned and privately operated businesses, especially SMEs. The business sector is excited about the opportunities presented by integration and regional and international trade.
“The Asean Economic Community is set to be formed in 2015 and will link us to the international economy. Laos will have the opportunity to access the world market and to be more open in terms of trade,” Mr Santisouk said.
He pointed out that although Laos expects to have new trade opportunities, the country will face various challenges and obstacles, and there is the risk of negative impacts on the domestic business sector because of greater competition.
“This means we must be well-prepared to battle with our regional opponents and to meet the demands of markets, especially by making improvements to ensure the high quality of our products and services,” he added.
The workshop is organised by the Mekong Institute in cooperation with the National Economic Research Institute, and supported by the New Zealand Aid Programme. About 25 participants, who were thought to lack sufficient knowledge of export procedures, including private and public sector employees, attended the workshop with the aim of furthering their understanding.
Workshop participants and facilitators aim to generate a better understanding of business development service providers and SME exporters in the Greater Mekong Sub-region countries in terms of benefiting from the upcoming free-trade agreement.
vientiane times
