'Strengths need to be combined'

About 100 young leaders were in Bangkok for the two-day Asean 100 Leadership Forum to discuss "Asean Integration in the Face of Global Crisis: Challenges and Opportunities".

On the final day of the meeting yesterday, Sandiaga Salahuddin Uno, president of Saratoga Capital of Indonesia, said he was optimistic about achieving the Asean Economic Community (AEC).

"Although there are some differences in economics, politics and culture, we can combine our strengths to make integration successful," he said.

To ensure the integration process goes smoothly, each nation must consider regional benefits as a priority rather than as a national interest. This will help Asean countries bridge their differences and strive together towards the goal of creating the AEC.

This week's Asean Summit in Cha-am/Hua Hin |will create a substantial action plan to drive the AEC, he added.

The 10 leaders of Asean should go beyond borders to protect national interests while building a concrete action plan to ensure economic and business growth in the region.

Asean has a good opportunity to foster intra-region trade and attract more foreign direct investment. As a single community, the region has many advantages, including natural resources, commodities, culture, technology and intellectual property, to help boost trade and investment growth.

Although China's gross domestic product is three times larger than that of Asean and attracted US$108 billion (Bt3.6 trillion) in foreign direct investment in 2008, the region still managed to attract $60 billion in the same period. That impressive ratio means the region has a competitive advantage in attracting inward investment, he added.

Intra-region trade should expand after trade liberalisation among member countries. It currently accounts for only 26 per cent of the overall commerce of Asean countries.

Asean's total trade was worth $1.7 trillion last year, while its combined GDP was valued at $1.5 trillion. The overall GDP of Asean has grown by 5-6 per cent a year over the past decade.