First Private-Sector Push for Trade Processing & Customs Reform in ASEAN

JAKARTA, Indonesia, July 2, 2013 /PRNewswire/ -- Leading Indonesian corporates and multinationals gather at the Ritz Carlton Jakarta, Indonesia to discuss trade processing and streamlining customs procedures in ASEAN.

Over 200 leading companies participated at the event including focused attendance from across Thailand, Malaysia, and Singapore on 27 June 2013 hosted by Bank Mandiri, one of Asia’s leading banks, in terms of assets and Hong Kong based-Alpha Southeast Asia.

Panelists included Indonesian Minister of Trade, Gita Wirjwan; Budi Sadikin, CEO, Bank Mandiri, Cerah Bangun, Deputy Director of Objection and Appeal, Dir-Gen Customs and Excise, The Republic of Indonesia; P Ravidran, AEC, Ministry of International Trade and Industry, Malaysia; Ms. Vilasinee Nonsrichai, Minister Counsellor (Commercial), Royal Thai Embassy Jakarta; Bernardino M, Vega, Jr, Vice Chairman, Multilateral Committee, ASEAN, KADIN Indonesia; Asa Larson, Senior Director, S.E.A, Corporate Public Policy, Deutsche Post DHL; and Rahmat Satria, CEO, Berlian Jasa Terminal Indonesia as well as 20 other leading customs and tax professionals.

While most public-sector based events are shaped around opinion. A number of solutions were put forward at this conference including:

“Indonesia ought to aim to import raw materials to produce finished goods for exports, rather than import finished goods for consumption in order to help the country move up the value chain. This can be achieved through trade facilitation at the grassroots level as well as becoming part of the Trans-Pacific Partnership (TPP), a proposed free trade agreement that gives every participant an equal footing,” advocating the need for Indonesia to make the most of the ongoing investment euphoria surrounding ASEAN - Indonesian Minister of Trade, Gita Wirjwan

“The need for a pan-ASEAN Chamber of Commerce to help connect the dots between ASEAN,” in order to enable companies to exploit numerous supply chain advantages emerging across the region - Mr. Bernardino Moningka VEGA, Jr, Vice-Chairman, Multi-lateral Committee, ASEAN, KADIN Indonesia

“ASEAN Economic Cooperation (AEC) is not going to happen overnight come January 1, 2014. It is a gradual process companies in the region need to adapt to. A number of barriers across borders have been lowered and a number of them will be lowered as we approach the date,” pointing out why SMEs and companies ought to be prepared now rather than when AEC comes into full effect - T P Ravidran, AEC, Ministry of International Trade & Industry, Malaysia

“Despite the slowdown in the global economy as a result of the continuing sovereign debt crisis in the eurozone and the temporary capital outflows out of the region, the ASEAN region is expected to grow robustly in the medium-to long term. In the period 2012-16, these economies are expected to expand by 10% per annum on average, double the rate of the global economy,” making a strong case for the investment potential the region holds - Mr. Budi Sadikin, CEO, Bank Mandiri

ABOUT BANK MANDIRI

As Indonesia’s largest bank, Bank Mandiri has as asset base of just of US$60 billion, 1,733 branches across Indonesia and six overseas branches including Hong Kong Singapore, Shanghai, East Timor, the U.K., and Cayman Islands. It has won a number of awards in transactional banking and offers a complete suite of trade finance and cash management solutions for companies in Indonesia as well as companies with overseas operations.

ABOUT ALPHA SOUTHEAST ASIA

Now in its seventh year of publication, Alpha Southeast Asia, published 10 times a year - is the first and only HK-based institutional investment magazine focused on Southeast Asia's banking and capital markets, written for professional investors and corporates. For more information, please visit www.alphasoutheastasia.com or email: lisa.kirkpatrick@whatinvestorswant.com( mailto:lisa.kirkpatrick@whatinvestorswant.com )

SOURCE Alpha Southeast Asia