Charter set to alter region's economic landscape
Sunday, November 18, 2007
THE signing of the Asean Charter and if followed through by the grouping's member countries, is set to change the economic landscape of the region, according to some analysts.
All its members, including Brunei Darussalam will also see significant changes to its own internal economic framework; one which could potentially propel Bruneians further along the sultanate's economic development.
The Charter would require Bruneian authorities to look at the country's own legal, political and economic framework and to make sure any changes made to existing policies can be successfully aligned with the legal and regulatory requirements set out by the Charter.
Bruneian authorities would also have to delve into and resolve existing issues in Brunei such as property rights, labour rights, and introduce competition laws and policies, much of which are still being drafted or have lax enforcements.
If Bruneian authorities make changes, driven by the Charter and learning from the best practices of its Asean neighbours, then Brunei would successfully further its own civil governance agenda, harmonising the sultanate's own economic policies with the best practices and policies found in each of Asean economy.
The focus of many institutions and the media have been the politicised aspects of the Charter, but it is important to that the focus be shifted back to the economic benefits such a Charter would bring about for member countries.
Asean's formation 40 years ago was driven by politics, but the economic development agenda of the association is now driving Asean forward.
The Brunei Times
All its members, including Brunei Darussalam will also see significant changes to its own internal economic framework; one which could potentially propel Bruneians further along the sultanate's economic development.
The Charter would require Bruneian authorities to look at the country's own legal, political and economic framework and to make sure any changes made to existing policies can be successfully aligned with the legal and regulatory requirements set out by the Charter.
Bruneian authorities would also have to delve into and resolve existing issues in Brunei such as property rights, labour rights, and introduce competition laws and policies, much of which are still being drafted or have lax enforcements.
If Bruneian authorities make changes, driven by the Charter and learning from the best practices of its Asean neighbours, then Brunei would successfully further its own civil governance agenda, harmonising the sultanate's own economic policies with the best practices and policies found in each of Asean economy.
The focus of many institutions and the media have been the politicised aspects of the Charter, but it is important to that the focus be shifted back to the economic benefits such a Charter would bring about for member countries.
Asean's formation 40 years ago was driven by politics, but the economic development agenda of the association is now driving Asean forward.
The Brunei Times
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