Asean can fend off protectionism blow by boosting integration: SBF chief

Members can remove non-tariff barriers, intensify engagements with trading blocs

- Ovais Subhani

Asean, the world's fourth-largest economy, does not have to take US President Donald Trump's tariff-induced chaos lying down.

The regional grouping's members can instead close ranks and accelerate progress towards a long-stated goal of economic integration—which would boost intra-regional flow of goods, services and investments, and create new jobs.

An Asean that is a more homogenised market can then become a global production base, with strong trade and investment links with other major economies worldwide.

This would be Asean's desired response, said Mr Kok Ping Soon, chief executive of the Singapore Business Federation (SBF), the Republic's apex business association with more than 32,000 companies under its fold.

It would not only enable the grouping's members to mitigate any medium-term loss in economic growth, trade and investment, but also further strengthen the region's economy.

Mr Kok said Asean can boost economic integration by removing non-tariff barriers to trade, leveraging its fast-growing digital and green economy, and intensifying its trade and investment engagements with other trading blocs.

"I think the question is whether, in the current climate, we are able to do more to strengthen Asean's economic integration. The answer must be absolutely yes. If not now, then when? The impetus (now) is even stronger," Mr Kok told The Straits Times in an interview.

Asean is a grouping of diverse economies, with some highly exposed to global trade and others mainly dependent on natural resources and labour-intensive industries.