Asean Forms Sugar Alliance

[geovalin]

Cambodia, along with six other Asean member countries, reached an agreement to form an alliance of sugar-producing countries ‒ or so the called Asean Sugar Alliance (ASA) ‒ to promote and support the regional sugar industry and make it more competitive globally. Cambodia, Thailand, Malaysia, Indonesia, Myanmar, Vietnam and the Philippines agreed in Bangkok last Saturday to form the alliance, with Thailand leading it for the next two years.

According to a Myanmar Times report yesterday, ASA will have provisions taken from Thailand’s Cane and Sugar Act of 1984 that includes the sharing of revenue between farmers and millers, the creation of an industry board and emergency funds for millers and farmers to cushion against price shocks or drastic weather events. “Thailand encouraged us to form the alliance. Although Cambodia and Malaysia do not have their own sugar associations, sugar companies attended the signing ceremony as representatives,” the daily newspaper quoted U Win Htay, deputy chair of the Myanmar Sugar and Sugar-Related Products Merchants and Manufacturers Association.

Seng Nhak, director of Phnom Penh Sugar, who could not be reached for comments published in the Myanmar Times yesterday, told Khmer Times earlier that Cambodia had already set up its own sugar association in a bid to improve the industry. Mr. Nhak said he was in Bangkok last Friday to access the impact of ASA regionally as well as globally in the context of the Asean Economic Community (AEC).

read more http://www.khmertimeskh.com/news/27411/asean-forms-sugar-alliance/

[Srikcir]

Thailand leading it for the next two years

Another self-appointed Hub.