Comprehensive Analysis Paper
June 08, 2013
The Pacific Forum region seeks a region of peace, harmony security, and economic prosperity. The diversity of its peoples seek value, honor in their cultures. The Pacific Region’s objectives include obtaining respect for its governance, sustainable management of its resources and its democratic values. The partnerships with their neighbors, to improve communications and secure a sustainable economy for all are the primary objectives for its members. Established in Bangkok, Thailand on August 8, 1967 the Association of Southeast Nations (ASEAN) was founded by Indonesia, Malaysia, Philippines, Singapore and Thailand. ASEAN is now comprised of 10 members including Brunei, Cambodia, Laos, Myanmar and Vietnam (ASEAN, 2013). An important and landmark agreement that ASEAN entered into was the ASEAN-China Free Trade Agreement. The region in which the ASEAN- China Free Trade Agreement will reach is about 1.9 billion people. This agreement will surely test not only the members of ASEAN, but China as well. The region in which the ASEAN- China Free Trade Agreement will reach is about 1.9 billion people. This agreement will surely test not only the members of ASEAN, but China as well (ASEAN, 2013). Positive Influence of the Asean-China Free Trade Agreement
January 10, 2010 marked a ten year negotiation with China, when the ASEAN-China Free Trade Area Agreement became effective. Tariff reductions between China and six ASEAN members Malaysia, Brunei, Indonesia, the Philippines, Singapore and Thailand, will experience more than a 90 percent of products with a drop to near zero in both parties’ tariffs. The agreement was established with the idea that ASEAN countries’ natural resources and China’s large market would both benefit (Shamsi, 2010). Countries like Cambodia and Laos will benefit from the ASEAN-China agreement with zero tariffs on over 7000 goods from China, which will benefit...
References: Shamsi, N. (2010, January 01). Asean-china free trade agreement . Retrieved from http://newsdawn.blogspot.com/2010/01/asean-china-free-trade-agreement.html
ASEAN. (2013). Asean. Retrieved from http://www.asean.org/asean/about-asean
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