This group acted as a prerequisite for the planned East Asia Community which was supposedly patterned after the now-defunct European Community. RCEP would, in part, allow the members to protect local sectors and give more time to comply with the aim for developed country members. The Vision also aimed to:
With its wide-ranging consequences, the ASEAN Economic Community will definitely affect the lives of every individual living in the region. Stripped of economic jargon, the ASEAN Economic Community is all about establishing laws, systems and standards that will allow goods, services, money, and skilled labor to move freely within the region.
It also entails harmonization of customs procedures of each ASEAN country, especially through the adoption of electronic technology and the establishment of a single window for customs processing of ASEAN products.
Under the blueprint, the priority service industries for liberalization are air transport, e-ASEAN or electronic service, health care, and tourism.
Free movement of capital is closely connected, which basically entails the harmonization of rules and procedures in securities and exchange regulation. So far, MRAs have been established in the engineering, surveying, architecture, medical, nursing, dental and accounting professions.
Likewise, there are concerns about the impact of liberalization on our agricultural sector, particularly the rice and sugar farmers.
Considering the high level of education in our country and our proficiency in English, Filipino professionals will have more employment opportunities.
These same characteristics of Filipinos will also attract more outsourcing and off-shoring of manufacturing and service industries into the Philippines.
Once liberalization is introduced and the cost of doing business in the Philippines is minimized, it is not unlikely that foreign firms, not only from ASEAN, will establish their presence in our country and create job opportunities.
Filipinos engaged in small and medium enterprises SMEs also stand to benefit. Aside from having easier access to better and cheaper raw materials and services from the region, they will also have access to financing from ASEAN lenders who cater to SMEs.
While continued debates on the ideology behind the ASEAN Economic Community should be encouraged, it is most prudent that we actively engage in the process of its establishment to harness its economic promises -- more job opportunities, better products and services, and improved technologies and standards.ASEAN news.
With Singapore as the new chair for ASEAN, stay up to date with the latest developments in the group - from breaking . May 07, · Australia should aspire to be designated an ASEAN Community Partner, says Graeme Dobell, in recognition of the unique and special relationship that Australia has with ASEAN.
This is in large part because of their shared geography and also in recognition of Australia’s growing attentiveness and focus on the neighbourhood.
ASEAN was proclaimed a community through a Declaration signed by ASEAN Leaders at the 27th Summit in Kuala Lumpur on 22 November , in a milestone for regional integration. Do you truly feel part of the ASEAN community?
I benefit from the ASEAN community when it comes to the visa-free travel to the 10 Asean countries or the 10 ASEAN member states (AMS).
The ASEAN Economic Community – AEC – is a project of economic integration between the ten ASEAN countries that was launched on 31 December It aims at providing the following advantages to business in the ASEAN economic community.
High Level Task Force (HLTF) on the Drafting of the ASEAN Charter () Eminent Persons Group (EPG) on the ASEAN Charter () Media Releases on the ASEAN Charter. ASEAN Fact Sheet on the ASEAN Economic Community. The new blueprint addresses more difficult areas of reform, including reducing non-tariff barriers, simplifying rules of origin, and accelerating and deepening the implementation of trade facilitation measures.