ASEAN and Global Value Chains: Locking in Resilience and Sustainability
Southeast Asia needs to strengthen its position in global value chain to bolster resilience against new challenges including future pandemics, geopolitical instability, and climate change, according to a new report, ASEAN and Global Value Chains: Locking in Resilience and Sustainability, which was launched during the Asian Development Bank's (ADB) fourth Southeast Asia Development Symposium (SEADS).
ADB Southeast Asia Department Director General Ramesh Subramaniam, in a fireside chat with CNBC Indonesia News Anchor and Journalist Dina Gurning, talked about the importance of ASEAN's participation in GVCs and the role GVCs played in the region's economic growth over the years. He said in order to decarbonize GVCs, ASEAN countries would need to look into each and every segment of each industry and address climate issues in the sector.