ASEAN Economic Community (AEC). Indonesia, Thailand, Singapore...

Course summary ASEAN Economic Community (AEC):

ASEAN Countries Economic Profiles. Trade in Goods Agreement (ATIGA). Single Market and Production Base

The ASEAN Economic Community (AEC) shall be the goal of regional economic integration by 2015.  AEC envisages the following key characteristics:
a) a single market and production base,
b) a highly competitive economic region,
c) a region of equitable economic development, and
d) a region fully integrated into the global economy.

ASEAN Member States: Brunei Darussalam,  Myanmar, the Philippines, Singapore, Thailand, Vietnam, Cambodia, Indonesia, Malaysia and Laos PDR

For businesses, an integrated ASEAN means greater market access into the combined market of 584 million people, the largest market after China and India.

ASEAN Basic Indicators, 2008
- Total Population : 583.7 million
- Total Land Area : 4.4 million sq. km.
- Total Gross Domestic Product : US$ 1,506.2 billion
- GDP Growth : 4.4 per cent
- Total Trade : US$ 1,710.4 billion
- Total Exports : US$ 879.14 billion
- Total Imports : US$ 831.23 billion
- Intra-ASEAN Exports : US$ 242.5 billion
- Intra-ASEAN Imports : US$ 215.6 billion
- Intra-ASEAN Trade : 26.8 per cent of ASEAN total trade
- Strong growth in ASEAN export and import of commercial services, rising from US$183 billion in 2003 to US$329.5 billion in 2007.
- Intra-ASEAN trade more than doubled, from US$166.8 billion in 2000 to US$458 billion in 2008.
- FDI Inflows : US$ 60.2 billion
- Intra-ASEAN FDI Inflows : US$ 11.1 billion

Example of the course ASEAN Economic Community (AEC):

After 15 years of implementation and coupled with the change in business environment, it became timely to upgrade the CEPT-AFTA. The 2009 ASEAN Trade in Goods Agreement (ATIGA) is an enhancement of the CEPT-ASEAN Free Trade Area (AFTA).

Since 1995, under the ASEAN Framework Agreement on Services (AFAS), ASEAN has undertaken several rounds of liberalisation and scheduled commitments to open up the services sector.

Strategically located in Asia, ASEAN is well placed to serve as the hub for regional and global companies. Many multinational companies have located their production bases in the ASEAN region to serve the regional and Global markets.

ASEAN Free Trade Agreements FTAs. ASEAN has concluded Free Trade Agreements (FTAs) with:
- ASEAN Australia New Zealand Free Trade Area (AANZFTA)
- ASEAN Canada Economic Cooperation Agreement (ACECA)
- ASEAN China Free Trade Area (ACFTA)
- ASEAN India Trade in Goods (TIG) Agreement
- Trans-Regional ASEAN European Union Trade Initiatives (TREATI)
- ASEAN Japan Comprehensive Economic Partnership (AJCEP)
- ASEAN ROK Korea Free Trade Area (AKFTA)
- ASEAN Russia Business Forum
- Trade and Investment Framework Agreement (ASEAN-US TIFA)
- ASEAN Pakistan Free Trade Area (FTA)