Asean post-pandemic recovery an opportunity to recalibrate economy

KUALA LUMPUR, July 3 — Asean post-pandemic recovery is an opportunity for the region to recalibrate its growth trajectory to become more resilient, digitally-enabled, inclusive, and sustainable, said the regional grouping’s secretary-general Datuk Lim Jock Hoi.

Covid-19 had an unprecedented impact on health and socio-economic impact in the region but also presented the opportunity for the region to reassess its path, he said.

Lim also stressed the significance of the region’s early commitment to cooperate instead of turning inward amid the coronavirus pandemic.

“Asean will continue to work together, including with external partners and partner institutions. This demonstrates Asean’s commitment to multilateral cooperation to effectively address the expansive implications of this unprecedented threat,” he said said during a virtual exclusive dialogue organised by CIMB Asean Research Institute (CARI) today.

The session, part of the CARI Briefings: Covid-19 Economic Recovery Plan Series, was titled “How Can Asean Bounce Back: Can the Asean Economic Community Retain its Vision in a Post-Pandemic World?”

It was moderated by CARI chairman Tan Sri Dr Munir Majid.

The opportunity to recalibrate growth comes at the midway point of the second Asean Economic Community Blueprint 2025 as Asean goes through the mid-term review this year to evaluate its past progress and plan for the future.

The region is also at a critical period given the start of the development of a consolidated strategy for the Fourth Industrial Revolution and the final preparation stage of the Regional Comprehensive Economic Partnership towards its signing.

Lim said the coordination for reopening and post-pandemic recovery was critical given Asean’s high level of economic integration and interconnectedness.

“The private sector will play an integral role in these efforts to restore employment, business confidence, and in working towards a swift and strong recovery,” he added. — Bernama

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