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IMPACT OF ASEAN ECONOMIC COMMUNITY (AEC) ON THE INTRA ASEAN
Transcript of IMPACT OF ASEAN ECONOMIC COMMUNITY (AEC) ON THE INTRA ASEAN
To ensure the politic, economic and social of ASEAN members are protected and well maintain.
ASEAN Community contains three main pillars which are ASEAN Security Community, ASEAN Economic Community and ASEAN Socio-Cultural Community.
ASEAN Economic Community has highlights four main pillars or principles which are a single market and production base, a highly competitive economic region, a region of equitable economic development and a region fully integrated into the global economy.
2.1 Encourage Members to Trade
2.0 IMPACT OF ASEAN ECONOMIC COMMUNITY (AEC) ON INTRA ASEAN TRADE
c) Elements of investment:
-AEC has implement non-discrimination.
2.3 Encourage Investors to Small and Medium Enterprise (SME) To Develop Their Business
IMPACT OF ASEAN ECONOMIC COMMUNITY (AEC) ON THE INTRA ASEAN TRADE AMONG ASEAN COUNTRY.
MUHAMMAD FAKHRUL ZAMAN BIN HAMIL
NURUL AZIRA BINTI JUNAIDI
NURUL SYAFIQAH BINTI NAZARUDDIN
PUTERI SHEREEN ROHAYU BINTI ALIAS
MISS SHAHIDAH BINTI ABD RAZAK
encourage all their members to trade because through one of its principle there is single market and production base that give many benefit to all of the members of ASEAN in terms of goods, services, investment, capital and labour.
a) Elements of goods:
-eliminate duties and non-tariff barriers.
-creating trade facilitations and single window.
b) Elements of services:
-by remove restrictions on service trade.
d) Elements of capital:
-AEC has promote cross-border capital raising
2.2 Increase Integration among ASEAN Members.
AEC will be able to create fair and equal competition between the ASEAN members not only between the investors and business but also will gives a lot of benefits to consumers too.
a) ASEAN members require an effective and efficient transportation system.
-a good transportation system will helps the interaction between the countries become smooth and it is easy for them to interconnect from one country to another.
-encourage them to do more trade and collaboration in many sectors such as business and tourisms.
-the effective and efficient transportation network between all of the members of ASEAN had helps much each of the country to integrate among them.
-the integrations will creates a good relationship between them therefore, each of the country can helps another country to develop their country due to the transfer of technologies and sharing the knowledge and expertise among them.
2.4 Make Interaction Between the ASEAN members and Other Countries Becomes More Systematic, Efficient and Systematic through the Integration into the Global Economy.
integration that has been made between the ASEAN members and the other world’s largest economy has develop strong relations between them.
take an initiative by strengthen the cooperation in the region by making a coherent approach towards the external economic relation.
For example, the ASEAN members have signed a free trade agreements with Japan, Korea, China, India, Australia and New Zealand.
ASEAN has come out with a system that can promote coordination and cooperation not only among ASEAN members but also involve other countries.
the system helps all the members make all discussion, transaction and collaboration efficiently.
For example, ASEAN has come out with the idea of e-ASEAN.
all of the countries has established ASEAN Broadband Corridor under the e-ASEAN framework agreement.
it can make the interaction, communication and the cooperation between ASEAN and other countries become more efficient, effective and systematic.
enhance the participation in the global supply network.
The supply of network includes technologies, skills, foods, expertise, knowledge and many other.
with the good relationship among the countries it can helps the countries that facing difficulties such as natural disaster by providing them financial aids, advice and counselling and also supply of food, medicine, and other basic needs towards them.
For example, ASEAN has come out with the idea of ASEAN Humanitarian Fund.
Through this fund, the ASEAN members could make a collaboration in order to collect the fund.
the establishment of AEC has helps more enough in fostering the economic growth for every members of ASEAN.
AEC also helps to increase the integration among ASEAN members, encourage investor to SME to develop their business and make interaction between ASEAN members become more efficient, systematic and strategic.
the existence of AEC also has helps ASEAN members in developing their country especially once they had introduced Free Trade Area (AFTA) where it has attract more foreign direct investment (FDI) to make an investment to the countries.
the establishment of AEC give a lot of impact on the intra-Asean trade especially in their economic growth.
Small and Medium Enterprise (SME) are one of the important ways for job creations and also economic growth among Asean region.
SME plays an important role in Asean economic because between 88-99 percent of the firm in Asean Member State is a part of SME.
a strong dynamic and efficient SME sectors will ensure the sustainable, good economic sector and social development.
SME was promoted and provides the opportunities for youth and women to participate in the economic development of the country.
Participation of Youth and Women in SME Development focuses on the ASEAN-ROK cooperation in SME development, trade and economic relations, export and innovation issues, and the roles of youth and women in the SME sector.
ASEAN assumes that SME will give an advantage to AEC where are they having two avenues which are to participate in a regional supply chain arrangement and the second is SME participate in the trading environment.