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Union of Asian Chambers (UAC) Launched In Kathmandu Under CNI Initiatives

The Union of Asian Chambers (UAC) has been envisioned to work as a major non-partisan economic forum in Asia for strengthening the base of Asian economic cooperation, as its deliberations and annual convention will essentially involve the member associations, industry institutions, investors, innovators, economic diplomacy officials, economists, development thinkers and the media.

By N24 Correspondent, KATHMANDU:- With a vision of strengthening Asian trade, enhancing regional economic growth and achieving a more small and medium enterprises (SMEs)-friendly policy and regulatory mechanisms in Asia, the Confederation of Nepalese Industries (CNI) has envisioned a harmonious unity among the Industry Chambers of the Asian region.

In light of this, CNI has taken an initiative to form the Union of Asian Chambers (UAC) to achieve the common goals of the Industry Associations of the Asian region by formally launching it on July 21, 2021 in the presence of key functionaries from the Founding Member Associations and the Prime Minister of Nepal, Mr. Sher Bahadur Deuba as the Chief Guest in Kathmandu.

Under the leadership of its Founding Chairman and CNI’s Vice President Nirvana Chaudhary, UAC will be headquartered in Kathmandu and sincerely operate to achieve the underlying goals by broadening its ambit through the institutional membership and series of well-oriented deliberations.

For initial few years in institution-making, there will be no membership fee for the Member Organizations and CNI will support UAC as a host institution. To achieve the aforementioned mission, vision and scope, UAC calls for a united action and thus inviting the industry associations across Asia to be the “Member Association” of UAC with representation of their leadership in “Governing Council” and executive head in “Executive Council” for further collaboration and scripting new success stories in Asia.

“As of now, the globalized trade is badly disrupted and to see the old normal buoyancy in the near future, the Asian economies have to come forward and lead the revival plan in letter and spirit. The crisis offers ample opportunities to boost the Asian spirit and correct the mistakes of bygone times. The strengthening of continental, regional and sub-regional economic cooperation in Asia will be of immediate help in dealing with the pandemic and the broken supply chains and mobility caused by it,” said a statement issued by the CNI.

An idea of “Re-imagining Asian Economic Integration” calls for deeper engagements of Asian economies’ in exploring opportunities among themselves and offering the much needed green shoots to the world. In a troubled world, thinking of having a firmed “Asia-bound business approach” for economic cooperation can be a game-changer for the Asian economies.

UAC has been envisioned to work as a major non-partisan economic forum in Asia for strengthening the base of Asian economic cooperation, as its deliberations and annual convention will essentially involve the member associations, industry institutions, investors, innovators, economic diplomacy officials, economists, development thinkers and the media.

Among the key focus areas of UAC will be: Policy Advocacy and Thought Leadership; Research, Market and Intelligence; Conferences and Exhibitions; Trade Facilitation and Investment; Connectivity & Green Mobility; Climate Change & Sustainability; and Promoting Asian Unity.

With unwavering determination, the Member Associations’ association with UAC will be for: promoting Asian economic integration; working in tandem with needs, aspirations and opinions of its member associations; and achieving a more liberal, open and inclusive trade-friendly regulatory and policy environment.

Noticeably, UAC is established with an aim to make 21st century, an Asian century and make the world a better place, the CNI statement further said.

The Covid-19 pandemic has created an unexpected and unforeseen adverse impact on the global health system, business, economy, livelihoods and daily lives. At the cusp of a defining change, it is wishful that the Asian countries come forward for re-imagining continental economic cooperation and staking a claim in the new world order.

To brave the challenges, there is a glaring need for giving a long-pending due to continental, regional and sub-regional economic cooperation in Asia. Essentially, for finding a strong basis for such economic and strategic integration, a shared vision for continental peace and prosperity will help the businesses to flourish in Asia, a zone of hope. If the Asian continent gets a new lease of life through a renewed approach of cooperation, the new world disorder will be rather positively eventful after the crisis, added the statement.

 

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