MANILA-- Members of the Association of Southeast Asian Nations (ASEAN) will encourage participation from relevant stakeholders in their good regulatory practices (GRP) agenda aimed at fostering connectivity and regional competitiveness.
Socioeconomic Planning Secretary Ernesto Pernia said learning to market GRP to stakeholders, along with building and enhancing the capacity of ASEAN countries for GRP implementation, could strengthen institutional and regulatory institutions and frameworks.
"We will also have to actively engage both the private sector, local governments, and businesses in streamlining processes and enhancing good regulatory practices in our countries," Pernia said during the ongoing ASEAN and Organization of Economic Cooperation and Development (OECD) network meeting on GRP in Iloilo City.
He said ASEAN members learned of each other's best practices in promoting regulatory excellence through reducing red tape and improving the business environment within the region.
"Good regulatory practice is central in the ASEAN, and is crucial in fostering connectivity within the region," said Pernia, also Director-General of National Economic and Development Authority (NEDA).
He also underscored the need for a concerted regional level of coordination and cooperation for administrative simplification, especially at the local government and business levels, to enable the GRP agenda.
"Thus, we must find a way to connect this to our common regional work plan," added the NEDA chief.
Pernia further said the ASEAN was optimistic about the potential opportunities for their small and medium enterprises (SMEs) to be "part of and benefit from the global value chains if regulatory constraints are correctly addressed."
ASEAN groups 10 countries -Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (PNA)
Source: Philippines News Agency