Association of South East Asian Nations (ASEAN) was experiencing growing pains. The organization had changed vastly since its inception in 1967‚ when it served as a political bulwark against the Cold War superpowers in order to protect the independence of its founding member states—Indonesia‚ the Philippines‚ Singapore‚ Malaysia‚ and Thailand. By the 1990s‚ ASEAN’s primary mission was to be an engine for regional economic growth. And by the 2000s‚ ASEAN had embraced Brunei‚ Cambodia‚ Laos‚ Myanmar
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Benefits of the Asean Economic Community (AEC) * It will open more regional cooperation and will improve the scale efficiencies‚ dynamism and competitiveness of Asean members. AEC will enable easier movement of goods‚ services‚ investment‚ capital and people. Ultimately‚ it will offer new ways of coordinating supply chains‚ or access to new markets for established products. * All Asean countries are more important to foreign investors if they are considered as one node in a larger regional
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Formation of ASEAN Economic Community History ASEAN was preceded by the short-lived ASA (Association of Southeast Asia)‚ founded in 1961 by Thailand‚ Malaysia and the Philippines. These three countries would eventually cooperate with Indonesia and Singapore to draft and sign the Bangkok Resolution on August 8‚ 1967‚ which established ASEAN. The organization expanded when Brunei joined in 1984‚ followed by Vietnam‚ Laos‚ Myanmar and Cambodia in the late 90s. As the organization’s size doubled
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Trade Agreement (NAFTA) The North American Free Trade Agreement is a free trade agreement among Canada‚ the United States of America‚ and Mexico‚ based on the model of the European Communities (today: European Union). NAFTA was signed separately by the leaders of the three countries‚ president Bill Clinton‚ president Carlos Salinas de Gortari and prime minister Brian Mulroney on December 17‚ 1992 and went into effect on January 1‚ 1994. The North American Free Trade Agreement (NAFTA)‚ which became
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meaningfully deepened in the year 2003 when its members adopted the ambitious goal of forming an ASEAN Economic Community (AEC) by 2015. The event indicates how rapidly approaching the association is into a new milestone. During their annual ASEAN Summit Meeting in November 2007 held in Singapore‚ the blueprint for realizing an ASEAN Economic Community (AEC) by 2015 was adopted and signed by ASEAN Leaders. It is important to have an understanding of the varying stages of their economic development
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Branca YES Yes South East Asia needs ASEAN because it helps to maintain the regional peace and stability by providing a platform for constructive discussion where there is a conflict of interest. For example‚ in the case of Singapore and Malaysia‚ there was the question of sovereign rights over Pedra Branca in 1979. Singapore claimed that Pedra Branca was terra nullius and so was never under the Johor Sultanate. Although the issue was not resolved at ASEAN level as it was resolved at the International
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The formation of ASEAN was mainly driven by the desire to improve on diplomatic relations between Southeast Asian nations so that they could focus more on nation building efforts. The 1960s was the decade of tumult‚ where Southeast Asian nations faced various external tensions and conflicts from one another. During then‚ it was of utmost importance for SEA nations to improve multilateral diplomatic relations so as to promote peace in the region. This peace would refer to ensuring political stability
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ASEAN 2015: CHANGING EMPLOYMENT LANDSCAPE ASEAN ECONOMIC COMMUNITY 2015 ASEAN Economic Community 10 countries‚ single regional economic market by 2015 Free flow of goods‚ services‚ investment ‚capital and skilled labor Professional mobility ASEAN 2015 Benefit ASEAN ECOnoMIC COMMUNITY 2015 Brunei‚ Cambodia‚ Indonesia‚ Laos‚ Malaysia‚ Myanmar‚ Philippines‚ Singapore‚Thailand‚ Vietnam BENEFITS •regional cooperation •improve efficiency •more attractive than individual countries emerging
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the exploitation of Mexican workers. Despite NAFTA’s serious disadvantages‚ free trade agreements are essential to developing nations; therefore‚ NAFTA can be deemed a success. The establishment of NAFTA created an array of advantages and disadvantages‚ with each contributing to the overall success of the agreement. One of the disadvantages of NAFTA is that hundreds of thousands of U.S. jobs were
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ASEAN Integration: Real Estate Practitioner Perspective By: Gus Agosto‚ REB‚ REA What is the view of the real estate practitioners on ASEAN Integration? The integration will bring both opportunities and challenges to the 28‚869 licensed real estate practitioners in the country. It means bigger market and area for business‚ exposure to different practices and culture‚ marketing strategies and plans. It should help in easing the problems besetting the practitioners for several decades. ASEAN is
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