Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Asia House Chief Executive Michael Lawrence has urged ASEAN businesses to accelerate their engagement with the UK and Europe to seize the enormous commercial opportunities emerging amid the dramatic shifts in global trade.
In a keynote address to the ASEAN Global Leadership Programme with the London School of Economics, Lawrence also invited the business leaders to push for closer and deeper economic integration in ASEAN.
“ASEAN has the potential to be the world’s fourth largest economy by 2030,” Lawrence said. “One way to realise this potential is through deeper economic integration.
“According to the Asian Development Bank, increasing economic integration could raise regional GDP by 7.1 per cent and create 14 million new jobs.
“Further integration is high on the agenda of the ASEAN secretariat, and the rotating chairing nation, yet it is perennially challenging. Member countries are at different stages of economic development, and the realities on the ground in terms of capacity, commitment and prioritisation make delivery difficult.”
ASEAN integration is an issue that Asia House engages with regularly – from briefings with key ASEAN figures to original research publications. Asia House Advisory recently published a report, sponsored by AirAsia, outlining key areas where the private sector can play a role in furthering integration in the bloc.
“As the leaders of some of the most important financial institutions in ASEAN, I would be keen to open an on-going discussion with you about how we can support better integration,” Lawrence told the forum.
“This will be a focus of Asia House in the coming months, supported by a number of leading companies from the region and globally.”
Lawrence was invited to speak at the prestigious event, convened by the London School of Economics and held at the Institute of Directors, in light of Asia House’s status as a centre of expertise on trade, investment and public policy which drives economic and commercial engagement with Asian markets.
“Asia House has been one of a vanguard group of institutions who have genuinely moved the dial on the knowledge and understanding of ASEAN, and exchange between ASEAN and the business community in the UK,” Lawrence added.
“We enjoy a close working relationship with His Excellency the Indonesian Ambassador and the embassy staff here in London; the Vietnamese ambassador – indeed all of the ASEAN member country missions, and other missions from partners in Asia.”
Lawrence commended the work of the missions in elevating the profile of their respective nations and increasing knowledge of ASEAN as a whole. And he challenged the delegation to play an active role in continuing that work.
Asia House has previously convened a number of high-level dialogues between senior ministers and officials from ASEAN and businesses from the UK.
It has held events with Indonesia’s President Jokowi and Finance Minister Sri Mulyani; Thailand’s Prime Minister, Prayut Chan-o-cha and Minister for Digital Economy and Society, Pichet Durongkaveroj; Vietnam’s Deputy Prime Minister Pham Binh Minh; the Philippines Secretary of Trade and Industry Ramon M. Lopez; Singapore’s Minister for Trade and Industry, HE Chan Chun Sing and GovTech Minister Janil Puthucheary; and the ASEAN Secretary General, HE Le Luong Minh.
