ASEAN Economic Integration 2015 Notes
ASEAN Economic Integration 2015
As the world today becomes more complex in term of politics and economics, there are agreements or treaties created in order to maintain the stabilization and development. One of the significant things that most states mainly concern about is the economic development; as a matter of fact, since the collapse of the Soviet Union, the world has given more priority to the economic development. On top of that, there were creations of free trade agreement among countries or regions; for instance, ASEAN was created in the purpose of regional development especially in economic. Moreover, ASEAN has proposed an objective to be succeeded in 2015 which is known as the economic integration or ASEAN Economic Community. There are three important factors that lead to the creation of ASEAN economic integration in 2015.
First, ASEAN free trade area for free flow of goods is an agreement to reduce the trade barrier across the ASEAN countries, found in 1992 (The ASEAN Secretariat, 2012). At first, there were only six members of ASEAN joining and discussing about the free flow of goods during the early 1990s. In 2000, ASEAN has reached four more members such as Cambodia, Laos, Vietnam, and Myanmar, and those countries were not developed much in economic; so, as the former six members could reach the similarity development in term of economic, the proposal that was concerned over the free trade area is still existed. It needs time for the new member states to reach the development as the ASEAN has defined the year 2015 for the economic integration, and it means that the new member states need to develop themselves until they reach the demand from the other member in productivity which it was estimated to be in 2015. Additionally, in order to reach this objective, it needs the entire new member states have higher economic growth and sign for agreement on trade. Once a country has free trade, it could lead to the international competition and also
As the world today becomes more complex in term of politics and economics, there are agreements or treaties created in order to maintain the stabilization and development. One of the significant things that most states mainly concern about is the economic development; as a matter of fact, since the collapse of the Soviet Union, the world has given more priority to the economic development. On top of that, there were creations of free trade agreement among countries or regions; for instance, ASEAN was created in the purpose of regional development especially in economic. Moreover, ASEAN has proposed an objective to be succeeded in 2015 which is known as the economic integration or ASEAN Economic Community. There are three important factors that lead to the creation of ASEAN economic integration in 2015.
First, ASEAN free trade area for free flow of goods is an agreement to reduce the trade barrier across the ASEAN countries, found in 1992 (The ASEAN Secretariat, 2012). At first, there were only six members of ASEAN joining and discussing about the free flow of goods during the early 1990s. In 2000, ASEAN has reached four more members such as Cambodia, Laos, Vietnam, and Myanmar, and those countries were not developed much in economic; so, as the former six members could reach the similarity development in term of economic, the proposal that was concerned over the free trade area is still existed. It needs time for the new member states to reach the development as the ASEAN has defined the year 2015 for the economic integration, and it means that the new member states need to develop themselves until they reach the demand from the other member in productivity which it was estimated to be in 2015. Additionally, in order to reach this objective, it needs the entire new member states have higher economic growth and sign for agreement on trade. Once a country has free trade, it could lead to the international competition and also
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