Course summary ASEAN Free Trade Agreements FTAs:
ASEAN Plus Three Cooperation. Chiang Mai Initiative Multilateralisation
(CMIM). Asian Bond Market Initiative (ABMI)
ASEAN Plus Three (APT): ASEAN, People’s Republic of
China,
Japan and the Republic of
Korea.
Since the process
began in 1997, the ASEAN Plus Three (APT) cooperation has broadened and
deepened. In finance and monetary cooperation, progress has been steady and
continues to focus on the implementation of the Chiang Mai Initiative
Multilateralisation (CMIM) and the Asian Bond Market Initiative (ABMI).
The Chiang Mai Initiative Multilateralisation (CMIM), a USD 120 billion
currency swap facility involving the central banks and finance ministries of
ASEAN, China, Japan and the Republic of Korea (ASEAN+3) and the Monetary
Authority of
Hong Kong, China, has come into
effect.
The
Asia Bond Market Initiative (ABMI) is an ASEAN+3 initiative supported by the
Asian Development Bank and funded by the Government of Japan. It is designed to
promote bond market development in the region. ASEAN+3 consists of
Brunei Darussalam,
Cambodia, the People’s Republic of China,
Indonesia, Japan, the
Republic of Korea,
Laos PDR,
Myanmar, the
Philippines,
Singapore,
Thailand,
Malaysia and
Vietnam.
ASEAN Trade with Plus Three countries reached USD 413.8 billion in 2009,
registering a 27% share of total ASEAN trade last year.
The 2009 value of total trade between ASEAN and its Plus Three Dialogue Partners
was still higher than its pre-crisis level of USD 405.4 billion in 2007. In
terms of foreign direct investment (FDI), total flows of FDI from the Plus Three
countries into ASEAN were still strong with a slight decline of 1.3% from USD
8.4 billion in 2008 to USD 8.2 billion in 2009.
Example of the course ASEAN Free Trade Agreements
FTAs:
ASEAN
Relations with other Organizations
ASEAN continued to build working relations with several specialized agencies of
the United Nations. ASEAN Foreign Ministers met their counterparts from the Rio
Group, the Gulf Cooperation Council (GCC), the
South Asian Association of
Regional Cooperation (SAARC), and the
Economic Cooperation Organization (ECO) in
New York during the opening session of the U.N. General Assembly in September
1999.
ASEAN attended the 5th Consultative Meeting among Executive Heads of Subregional
Organizations and ESCAP held in Bangkok on 7-8 June 2000. In May 2000, an
ASEAN-Andean Community Symposium was held in Bangkok.
US - Singapore FTA
Topic:
Globalization and regionalization
EENI International Business
Course learning materials: 
