With increasing globalization and outsourcing, Asian countries have become increasingly interconnected through economic transactions crossing national borders. As production processes are increasingly globalized, transactions in trade in goods and services have become more complicated. Hence, the ASEAN Secretariat and the Asian Development Bank Institute jointly organized the Seminar on International Trade in Goods and Services Statistics on 14-16 April, to apply international and practical guidance in addressing data compilation issues involving multinational activity related to trade in goods and services.
Conceptual changes in the compilation of these transactions are still quite challenging for most of the countries. In ASEAN, the availability of timely, comparable and relevant statistics on trade in goods, services and investments are crucial in designing policies, negotiating regional agreements and monitoring the impact of integration under the ASEAN Economic Community.
Delegates from the ten ASEAN Member States and other Asian counties attended the event. The seminar emphasized that good institutional collaboration and coordination among national statistical agencies are essential to effectively implement the agreed international standards on data compilation.
The activity was supported by the EU-ASEAN COMPASS Project and was hosted by Bangko Sentral ng Pilipinas (Central Bank of the Philippines).