Connect with us

Asean

Moving towards an ASEAN Economic Community (AEC)

Launched as a political bloc and security pact in the aftermath of the Vietnam War, ASEAN has evolved to embrace an ambitious economic agenda. Its latest project is to establish the ASEAN Economic Community (AEC) by 31 December 2015.

Published

on

aecrop

Launched as a political bloc and security pact in the aftermath of the Vietnam War, ASEAN has evolved to embrace an ambitious economic agenda. Its latest project is to establish the ASEAN Economic Community (AEC) by 31 December 2015.

But is this likely? The blueprint for achieving the goal envisages the AEC standing on four pillars and meeting the deadline depends on progress on each of them. There have been a number of noteworthy achievements on the first pillar of realising a single market and production base.

The greatest success has been in tariff reduction. Following the implementation of the ASEAN Free Trade Area, common effective preferential tariff rates between the ASEAN-6 (Brunei, Indonesia, Malaysia, the Philippines, Singapore, and Thailand) fell to virtually zero.

As a result, more than 70 per cent of intra-ASEAN trade incurs no tariff and less than 5 per cent is subject to tariffs above 10 per cent. With tariff rates largely irrelevant, leaders need to prioritise eliminating non-tariff barriers

Author: Jayant Menon, Asian Development Bank

Original post:
Moving too slowly towards an ASEAN Economic Community

1 Comment

1 Comment

  1. Mark Hefner

    November 3, 2014 at 9:22 pm

    I’ve read the ASEAN Declaration and no where in it does it say it was “launched as a political bloc and security pact in the aftermath of the Vietnam War.”

    In fact, one of the founders,THANAT KHOMAN, wrote in 1992, “Another principle to which we anchored our faith was that our co-operation should deal with non-military matters. Attempts were made by some to launch us on the path of forming a military alliance. We resisted; wisely and correctly we stuck to our resolve to exclude military entanglement and remain safely on economic ground.”

    SOURCE:

Leave a Reply

Asean

ASEAN commemorates Youth in Climate Action and Disaster Resilience Day 2021

An intergenerational dialogue titled ‘Teaming up with You(th) for a Disaster-Resilient and Climate-Friendly ASEAN’, was moderated by the ASEAN Youth Forum’s Programme Manager, Rastra Yasland.

Published

on

f1db4345

JAKARTA, 30 November 2021 – The ASEAN Secretariat hosted an interactive webinar to commemorate ASEAN Youth in Climate Action and Disaster Resilience Day on 25 November.

(more…)
Continue Reading

Vietnam

Vietnam’s Tay Ninh Province: Promising for Investors in the Greater Mekong Subregion

The SKER is one of four key economic regions which cover most economic and investment hubs in the country. The SKER consists of Tay Ninh along with Ho Chi Minh City, Binh Duong, Dong Nai, Long An, Ba Ria-Vung Tau, Binh Phuoc, and Tien Giang.

Published

on

Tay Ninh Province: Promising for Investors in the Greater Mekong Subregion

Vietnam’s Tay Ninh province located in the Southern Key Economic Region (SKER) acts as a key connection point between Ho Chi Minh City and Cambodia’s capital Phnom Penh, sharing a border with Cambodia at Moc Bai and Xa Mat border gates, the main trade centers between the two countries.

(more…)
Continue Reading

Recent

Most Read

Join 14,209 other subscribers