CEBU CITY — Cebu has been chosen to host the Association of Southeast Asian Nations (ASEAN) Business and Investment Summit, a precursor to the Association of Southeat Asian Nations (ASEAN) and East Leaders Summit, on Dec. 7-10 at the Waterfront Hotel here.
Philippine Chamber of Commerce and Industry (PCCI) Governor for the Visayas Junie Andrade said the formal launching of the Business and Investment Summit was held last Sunday.
The summit has provided business and corporate leaders with insights into the implications of ASEAN integration as strategies for developing regional and global business and investment communities.
Joe Concepcion, who spoke in behalf of the organizing committee during the launching, said that apart from broadening the economic integration of the 10 member-countries of ASEAN, aims to present to Asian business leaders the serious challenges to narrowing the development gap among the group’s members and hasten their pace of integration.
"This is not an easy task since the stages of political, social and economic development in ASEAN vary, such that there are countries that cannot cope with all the requirements of regional integration," Concepcion said.
"ASEAN needs to narrow the development gaps not only among ASEAN member-countries, but also the gaps within each member country. Support for the development of sub-regional growth areas will facilitate bridging these development gaps," Concepcion said.
This year, Concepcion said, the Philippines will assume the presidency of ASEAN and with it, the opportunity to host the leaders and the business summit meetings.
This year’s ASEAN Business and Investment Summit will be more meaningful, Concepcion said, because for the first time, the heads of the 10 member-states will present what ASEAN integration means to them and what each of them must do to realize ASEAN integration.