ASEAN is a trade bloc of 10 nations with an aggregate economic size of $2.3 trillion. The aim is to establish a fully-fledged economic community (AEC) by the end of 2015
The ASEAN trading bloc's diversity – ranging from advanced economies like Singapore to developing countries like Myanmar is an interesting and important feature – who will be the winners and losers from deeper economic integration in the region?
Association of Southeast Asian Nations (Brunei Darussalam, Cambodia, Indonesia, Lao P.D.R., Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam)
Economic Background to ASEAN
The basics of a single market / economic community
As part of the ASEAN integration plans, barriers to trade in goods and services will be brought down or kept to a minimum.
Flows of investment, capital and skilled labour will be facilitated and co-operation in sectors designated as priority integration sectors will be promoted.
This will be added to by establishing regional standards for competition policy, Consumer protection, Intellectual property rights, taxation and e-commerce
The ASEAN Infrastructure Fund was established with the Asian Development Bank to fund physical infrastructure projects in ASEAN. An example is the building of a new high speed railway between Malaysia and Singapore.
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