KUALA LUMPUR, May 7 (Bernama) -- The ASEAN region is seeing an increase in the demand for environmental services due to rapid population growth and urbanisation, including waste and wastewater management, air pollution and climate change mitigation.
This is according to the recently published study by the ASEAN-Japan Centre (AJC), Promoting Services Trade in ASEAN: Trade in Environmental Services.
This is the third and last report in the three-paper series of social services under the second phase of the project on promoting services trade, according to a statement.
The estimated sales of environmental services through foreign commercial presence (Mode 3 delivery of services) in ASEAN was at least US$1.4 billion in 2016, of which over half is from foreign entities based in Singapore, followed by Thailand and Malaysia, respectively. (US$1 = RM4.119)
On the other hand, the estimated sales of ASEAN entities providing environmental services abroad is US$383 million, 90 per cent of which are Singaporean companies.
Meanwhile, investment flows to environmental services in ASEAN between 2003 and 2017 are estimated at a value of US$1.5 billion, with Singapore receiving the largest amount of investment valued at US$948 million, followed by Malaysia, Viet Nam, and Thailand.
Investments were concentrated in solid waste management services and in wastewater treatment/sewage services.
The paper recommends that freer trade could reduce the cost of environmental services and help firms to access cheaper or more advanced technology.
In addition, considering the public good nature of environmental services, the paper recommends ASEAN states to further delineate the commitments/activities that fall under environmental services.
Aside from this publication, relating to work on environmental services, the Centre carried out a programme called ‘Future Leaders’ Declaration on ASEAN-Japan Cooperation on International Marine Plastic Waste’.
More details at https://www.asean.or.jp/en/
-- BERNAMA
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