Economic Integration
ECONOMIC INTEGRATION IN THE ASEAN REGION
By: Noha Abu Mousa (4037856)
TBS983 International Business Economic Environment
Professor’s name: Dr. Gwendolyn Rodrigues
University of Wollongong in Dubai
Economic Integration in the ASEAN Region
Introduction
The Association of Southeast Asian Nations (ASEAN) is a political, as well as economic and cultural intergovernmental integration in geographical region of the countries in Southeast part of Asia. It should be noted that this form of integration in the region was needed for strengthening the position of the member-countries worldwide by means of facilitating its economic development, as well as fostering stability and peace, including enforecement of cooperation in terms of economy, science, technology, and culture in the region (ASEAN official website n.d.). ASEAN includes 10 countries: Indonesia, Malaysia, Laos, Thailand, Brunei, Cambodia, Philippines, Myanmar, Vietnam and Singapore. In total, these countries are home to 600 million people. ASEAN was founded in 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Key strategic attributes of ASEAN countries are recognized in the geographic proximity regarding pivotal sea lanes and also in the economic potential of the region (ASEAN official website n.d.). The map that presents geographical boundaries of ASEAN is given below.
[pic]
Source: Federation of ASEAN Shipowners' Associations, www.fasa.org.sg
It should be highlighted, that the first steps to interstate cooperation in Southeast Asia can be found in the years of the "cold war", but then it had a clearly marked military-political character and came down to participate in the global confrontation between the two systems. ASEAN managed to develop into a non-military regional association with the high international standing. This paper describes and furthers analyzes both weaknesses and strengths of the ASEAN unity in terms of economic,
By: Noha Abu Mousa (4037856)
TBS983 International Business Economic Environment
Professor’s name: Dr. Gwendolyn Rodrigues
University of Wollongong in Dubai
Economic Integration in the ASEAN Region
Introduction
The Association of Southeast Asian Nations (ASEAN) is a political, as well as economic and cultural intergovernmental integration in geographical region of the countries in Southeast part of Asia. It should be noted that this form of integration in the region was needed for strengthening the position of the member-countries worldwide by means of facilitating its economic development, as well as fostering stability and peace, including enforecement of cooperation in terms of economy, science, technology, and culture in the region (ASEAN official website n.d.). ASEAN includes 10 countries: Indonesia, Malaysia, Laos, Thailand, Brunei, Cambodia, Philippines, Myanmar, Vietnam and Singapore. In total, these countries are home to 600 million people. ASEAN was founded in 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Key strategic attributes of ASEAN countries are recognized in the geographic proximity regarding pivotal sea lanes and also in the economic potential of the region (ASEAN official website n.d.). The map that presents geographical boundaries of ASEAN is given below.
[pic]
Source: Federation of ASEAN Shipowners' Associations, www.fasa.org.sg
It should be highlighted, that the first steps to interstate cooperation in Southeast Asia can be found in the years of the "cold war", but then it had a clearly marked military-political character and came down to participate in the global confrontation between the two systems. ASEAN managed to develop into a non-military regional association with the high international standing. This paper describes and furthers analyzes both weaknesses and strengths of the ASEAN unity in terms of economic,