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The ASEAN Economic Community: Progress, Challenges, and Prospects

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  • Siow Yue Chia

    (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

  • Siow Yue Chia, 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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    References listed on IDEAS

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    1. repec:wbk:wbpubs:11857 is not listed on IDEAS
    2. 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.
    3. Siow Yue CHIA, 2011. "Association of Southeast Asian Nations Economic Integration: Developments and Challenges," Asian Economic Policy Review, Japan Center for Economic Research, vol. 6(1), pages 43-63, June.
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    Cited by:

    1. Amador, João & Cabral, Sónia, 2014. "Global value chains: surveying drivers and measures," Working Paper Series 1739, European Central Bank.
    2. Sarah Huelser & Adam Heal, 2014. "Moving Freely? Labour Mobility in ASEAN," ARTNeT Policy Briefs 40, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    3. repec:ilo:ilowps:486525 is not listed on IDEAS
    4. Sanchita Basu Das & Rahul Sen & Sadhana Srivastava, 2017. "A Partial Asean Customs Union Post 2015?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(03), pages 593-617, June.
    5. Paul John, Pena, 2019. "An ASEAN Digital Single Market: Boosting the Aspiration for a Single Market in the Digital Era," MPRA Paper 95948, University Library of Munich, Germany.
    6. Sujinda CHEMSRIPONG, 2016. "Skilled Labor Mobility in the ASEAN Economic Community (AEC): Experience from Thailand Labor Market," Journal of Economics and Political Economy, KSP Journals, vol. 3(4), pages 767-781, December.
    7. João Amador & Sónia Cabral, 2014. "Global Value Chains: Surveying Drivers, Measures and Impacts," Working Papers w201403, Banco de Portugal, Economics and Research Department.
    8. repec:bcp:journl:v:6:y:2022:i:5:p:530-536 is not listed on IDEAS
    9. Laosutsan, Pheesphan & Shivakoti, Ganesh P. & Soni, Peeyush, . "Comparative advantage and export potential of Thai vegetable products following the integration into the ASEAN Economic Community," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 20(4).
    10. Aalto, Pami, 2014. "Energy market integration and regional institutions in east Asia," Energy Policy, Elsevier, vol. 74(C), pages 91-100.
    11. 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.
    12. Saima Gul & Syed Ali Shah & Muhammad Usman Ullah, 2018. "The Role of Trade in Peace Promotion: Assessment of Pak-India Relationship," Global Economics Review, Humanity Only, vol. 3(2), pages 34-42, December.
    13. Sujinda CHEMSRIPONG, 2016. "Skilled Labor Mobility in the ASEAN Economic Community (AEC): Experience from Thailand Labor Market," Journal of Economics and Political Economy, EconSciences Journals, vol. 3(4), pages 767-781, December.
    14. Iulia Monica Oehler-Şincai, 2014. "The Roles Played By China And Japan In The Asian Integration Process," Romanian Economic Business Review, Romanian-American University, vol. 9(3), pages 131-148, September.
    15. 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.
    16. Kaewkamol Pitakdumrongkit, 2017. "Beyond The Secretariat: Addressing Governance Issues In Asean Economic Community," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(03), pages 741-759, June.
    17. Viet HOANG, 2018. "Assessing the agricultural trade complementarity of the Association of Southeast Asian Nations countries," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(10), pages 464-475.
    18. Elms, Deborah, 2020. "Impact of the ASEAN Economic Community and implications for Latin America," Documentos de Proyectos 46513, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

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    Keywords

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    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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