The Road to Common Prosperity: First Problem Statement: • How do increase your GDP? You trade your way to increase your GDP –i.e. by trading more goods and services. Second Problem Statement: • How do you trade more goods? By having a uniform standard of goods –ie conformity in standards. • How do you trade more services? By having equivalent standards that are mutually recognized between both trading partners. These standards must be subject to accreditation and meet a certain accepted universal benchmark. Auxiliary Statement: • Another way to increase your GDP is to facilitate trade –i.e. increase the volume and velocity of trade. But how do you Facilitate trade? By having good connectivity in terms of transport-logistics, roads, railways and ports etc. (Note: The private sector is usually not interested in railways.) Another aspect is through streamlining customs, immigration, banking and other necessary procedures through a National Single Window & ASEAN Single Window. This will avoid duplication whereby documentation will only need to be done once.
Posted on: Sat, 20 Sep 2014 12:04:23 +0000
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