Asean Economic Community (Aec) 2015 and Its Implication on
ASEAN Economic Community (AEC) 2015 and its implication on APEC[1] Kuboon Charumanee[2]
The Association of Southeast Asian Nations (ASEAN) has been the representative of regional economic cooperation and integration among developing countries. As part of the structural changes of the world economy, ASEAN has implemented intra-regional economic cooperation since 1976. The new goal is the establishment of the ASEAN Community which consisted of three pillars; ASEAN Political-Security Community, ASEAN Economic Community, and ASEAN Socio-Cultural Community. Since ASEAN has also been an important axis of regional economic cooperation and free trade agreements (FTA) in Asia and Pacific’s. A big step toward realization of ASEAN Community is the Southeast Asia regional economic integration into ASEAN Economic Community (AEC) within 2015.
As economic integration, AEC is dealing directly with economic stuffs. The part of AEC that impacts directly not only the ASEAN’s entire members, which all of them are APEC’s member economies too, but also represent the possibility and potentiality of a real regional integration, rather it be successfully established among the economics vary of members, or facing obstacles of cooperation. This paper will study about ASEAN preparations for AEC, its situations, challenges and how AEC impacts on APEC as a portrait of regional economic integration.
ASEAN and its blueprint on AEC
The Association of Southeast Asian Nations (ASEAN) has been the representative of regional economic cooperation and integration among developing countries, within the structural change of the world economy. In East Asia, ASEAN has been the sole source of regional cooperation. Founded in 1967, ASEAN has promoted deepening and widening of regional cooperation since its founding, deepening its political and economic cooperation and fostering other types of cooperation. The five original members in 1967––Indonesia, Malaysia, the Philippines,
The Association of Southeast Asian Nations (ASEAN) has been the representative of regional economic cooperation and integration among developing countries. As part of the structural changes of the world economy, ASEAN has implemented intra-regional economic cooperation since 1976. The new goal is the establishment of the ASEAN Community which consisted of three pillars; ASEAN Political-Security Community, ASEAN Economic Community, and ASEAN Socio-Cultural Community. Since ASEAN has also been an important axis of regional economic cooperation and free trade agreements (FTA) in Asia and Pacific’s. A big step toward realization of ASEAN Community is the Southeast Asia regional economic integration into ASEAN Economic Community (AEC) within 2015.
As economic integration, AEC is dealing directly with economic stuffs. The part of AEC that impacts directly not only the ASEAN’s entire members, which all of them are APEC’s member economies too, but also represent the possibility and potentiality of a real regional integration, rather it be successfully established among the economics vary of members, or facing obstacles of cooperation. This paper will study about ASEAN preparations for AEC, its situations, challenges and how AEC impacts on APEC as a portrait of regional economic integration.
ASEAN and its blueprint on AEC
The Association of Southeast Asian Nations (ASEAN) has been the representative of regional economic cooperation and integration among developing countries, within the structural change of the world economy. In East Asia, ASEAN has been the sole source of regional cooperation. Founded in 1967, ASEAN has promoted deepening and widening of regional cooperation since its founding, deepening its political and economic cooperation and fostering other types of cooperation. The five original members in 1967––Indonesia, Malaysia, the Philippines,
References: Baldwin, Richard E. 2006. Multilateralising Regionalism: Spaghetti Bowls as Building Blocs on the Path to Global Free Trade. The World Economy 29, no. 11 (November): 1451–518. Hadi Soesastro (1995): ASEAN and APEC: Do concentric circles work?, The Pacific Review, 8:3, 475-493. Hew, D. and Soesastro, H. (2003), “Realizing the ASEAN Economic Community by 2020: ISEAS and ASEAN-ISIS Approaches,” ASEAN Economic Bulletin, Vol.20, No.3, ISEAS. John Ravenhill (2000): APEC adrift: implications for economic regionalism in Asia and the Pacific, The Pacific Review, 13:2,319-333. Kazushi Shimizu (2010) : ASEAN Economic Integration in the World EconomyToward the ASEAN Economic Community (AEC), Econ. J. of Hokkaido Univ.,Vol. 39 (2010), pp. 77 – 88. Shalendra D. Sharma (2002): Beyond ASEAN and APEC: Towards a New Asia-Pacific Economic Regionalism, EAST ASIAN REVIEW . Vol. 14, No. 3, Autumn 2002,,pp. 37-48 Subhash C ----------------------- [1] The paper for The annual conference for the APEC Study Centers Consortium, held on May 26-27, 2012 Kazan, Russia.