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The ASEAN Economic Community: Progress, Challenges, and Prospects

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  • Chia, Siow Yue

    (Asian Development Bank Institute)

Abstract

The ASEAN Economic Community (AEC) was set up in 2003 with the objectives of creating a single market and production base, enhancing equitable economic development as well as facilitating the integration into the global economy. The AEC involves liberalization and facilitation of trade in goods, services, and investment, as well as protection and promotion of investment. The paper outlines the AEC Blueprint actions and the time lines for completion. The authors find that by end-2011 only an implementation rate of 67.5% had been achieved. While tariff elimination is found to be largely on schedule, there are difficulties with the removal of non-tariff barriers as well as with the liberalization of services and investment regimes.

Suggested Citation

  • Chia, Siow Yue, 2013. "The ASEAN Economic Community: Progress, Challenges, and Prospects," ADBI Working Papers 440, Asian Development Bank Institute.
  • Handle: RePEc:ris:adbiwp:0440
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    File URL: http://www.adbi.org/files/2013.10.25.wp440.asean.economic.community.progress.challenges.pdf
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    References listed on IDEAS

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    1. Prema-chandra Athukorala, 2011. "Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?," Asian Economic Papers, MIT Press, vol. 10(1), pages 65-95, Winter/Sp.
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    Cited by:

    1. Aalto, Pami, 2014. "Energy market integration and regional institutions in east Asia," Energy Policy, Elsevier, vol. 74(C), pages 91-100.
    2. repec:wsi:serxxx:v:62:y:2017:i:03:n:s0217590818400027 is not listed on IDEAS
    3. Techakanont, Kriengkrai., 2014. "Managing integration for better jobs and shared prosperity in the ASEAN Economic Community the case of Thailand's automotive sector," ILO Working Papers 994865253402676, International Labour Organization.
    4. repec:ilo:ilowps:486525 is not listed on IDEAS
    5. repec:wsi:serxxx:v:62:y:2017:i:03:n:s0217590818400088 is not listed on IDEAS
    6. Choong Lyol Lee & Shinji Takagi, 2015. "Assessing the Financial Landscape for the Association of Southeast Asian Nations Economic Community, 2015," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 2(1), pages 116-129, January.

    More about this item

    Keywords

    regional integration; regional cooperation; economic cooperation; trade; investment; goods; services; asean economic community;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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