1. Introduction on Regional Economic Integration (REI) Regional economic integration is an agreement among countries in a geographic region to reduce and ultimately remove tariff and non-tariff barriers to the free flow of goods or services and factors of production among each other (Ghani et al.‚ 2008). It can be also refers as any type of arrangement in which countries agree to coordinate their trade‚ fiscal‚ and/or monetary policies are referred to as economic integration. Obviously‚ there are
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ASEAN COMMUNITY AND ME The Association of Southeast Asia was born by five leaders; the Foreign Ministers of Indonesia‚ Malaysia‚ the Philippines‚ Singapore and Thailand in Bangkok on 8 August 1967. Brunei Darussalam then joined on 7 January 1984‚ Viet Nam on 28 July 1995‚ Lao PDR and Myanmar on 23 July 1997‚ and Cambodia on 30 April 1999. The aims and purposes of ASEAN are to provide assistance each other in the economic‚ social‚ cultural‚ technical‚ educational and other fields. It is the greatest
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http://www.thaifurnitureclub.or.th/EN/En-AEC.php ASEAN ECONOMIC COMMUNITY What is ASEAN Economic Community (AEC)? ASEAN signifies continuous economic growth among members. After the attempts to establish ASEAN Free Trade Area (AFTA) have been achieved in 2003‚ the 8th ASEAN Summit in November 2002 agreed to set ASEAN direction towards ASEAN Economic Community (AEC)‚ similar to that of the European Economic Community (EEC). At the same time‚ ASEAN members were encouraged to improve their internal
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Regional strategies for global leadership As the rising tide of globalization‚ some companies may lost the way or make mistakes to set out to create a worldwide strategy. In fact‚ better results come from strong regional strategies‚ which is the bridge that connect the local and global initiatives‚ and can significantly boost a company’s performance. The role and importance of regions According to the article‚ an increasing number of companies regard regions as enabler of cross-border integration
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The Possible Impact of Greater Economic/ Regional Integration Among the Malaysia‚ Singapore and the Rest of the ASEAN and APEC Countries Introduction Economic integration is the bind of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration. (Balassa‚ 1967) The focus of economic integration is to lower the costs for both consumers and producers‚ as well as to increase trade
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Economic integration Economic integration is the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration. This is meant in turn to lead to lower prices for distributors and consumers with the goal of increasing the combined economic productivity of the states. The trade stimulation effects intended by means of economic integration are part of the contemporary
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Challenging the ASEAN Economic Community 2015 History and Political System of ASEAN Nations (POL 303) Prof. Sonya CHUM Ms. Soksamphoas IM E-mail: soksamphoas.im@live.com December 2011 – March 2012 Contents: I. Introduction II. Modern Economic History of Cambodia 2.1 Cambodia-ASEAN Diplomatic Relations 2.2 Cambodia‟s Achievements after joining ASEAN 2.3 Cambodia‟s policies‚ strategies and commitments III. Advantages and Disadvantages for Cambodia to join AEC 3.1 Advantages 3.2 Disadvantages 3.3 Balancing
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1) Give some examples of economic integration‚ today and in the past. Although there exists more than 500 free trade agreements in some shape or from worldwide‚ I contemplate two of the major ones when addressed with this question. Namely EU and NAFTA. EU also known as the European Union formerly known as the European Community has a long and rich history that I will not go into detail about here. I will however note that it was a result of two world wars there left the independent countries poor
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Economic Integration Definition of ’Economic Integration’ An economic arrangement between different regions marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. The aim of economic integration is to reduce costs for both consumers and producers‚ as well as to increase trade between the countries taking part in the agreement. Investopedia explains ’Economic Integration’ There are varying levels of economic integration‚ including preferential
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ASEAN was created on August 8‚ 1967 by five founding members; Thailand‚ Indonesia‚ Singapore‚ Malaysia‚ the Philippines. Malaysian foreign minister Ismail Abdul Rahman said at that time: ‘we have to come to a profound shared realization that we will not be able to survive as independent nations for long…‚ unless we think and act at the same time as residents of Southeast Asia’ . At perilous times when the nation-states were pressurized into joining either one of the two major blocs‚ Southeast Asian
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