In a commentary article for the Bangkok Post, Boon-Hiong Chan, Deutsche Bank’s head of market advocacy in Asia Pacific, Global Transaction Banking, explains the benefits of ASEAN’s increasingly integrated and cohesive economy.
Chan believes that the ASEAN Community Vision 2025 (AEC Vision 2025), which strives to make ASEAN a more holistic and globally competitive region, can help economies like Thailand achieve greater economic performance. The plan involves integration of the region’s economic and financial markets, and breaking down cross-border barriers like tariffs for an enlarged market with higher economies of scale.
Additionally, more corporations are hedging their foreign-exchange exposure, facilitating integration with financial institutions launching innovative cross-border forex payment services for cost-effective currency transfers.
The full article can be read here.