Failure to remove non-tariff barriers 'will impede Asean growth'
Report suggests that the region set up a body to remove such trade barriers and work with the private sector on challenges
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Sharanya Pillai
Singapore
ASEAN could fail to meet its growth targets if it doesn't adopt a sustained strategy to get rid of Non-Tariff Barriers (NTBs) and Non-Tariff Measures (NTMs), a new report has warned.
The report noted the "large number" of NTBs and NTMs - policies and measures (other than tariffs) that stand in the way of free trade, such as quotas, levies or import and export constraints - especially in the automotive, agri-food and automotive sectors. The report was commissioned by the European Union-Asean Business Council and the Asean Business Advisory Council, and prepared by the Asian Trade Centre, a European Union-funded body that promotes better regional trade policies.
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