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The ASEAN economic community: what stands in the way?

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Title: The ASEAN economic community: what stands in the way?
Authors: Dosch, Jörn
LC Subject Headings: Southeast Asia - Economic integration
ASEAN - Economic integration
Issue Date: Sep 2015
Publisher: Honolulu, HI: East-West Center
Series/Report no.: AsiaPacific issues ; no. 119
Abstract: At the end of 2015 the Association of Southeast Asian Nations (ASEAN) will announce the establishment of the ASEAN Economic Community (AEC). In theory, this agreement should produce an association-wide economic integration. However, following the announcement, and for the foreseeable future, ASEAN member states will continue in significantly less than full regional economic integration. Why? Some observers believe that the AEC plans involve an "overly ambitious timeline and too many ill-thought-out initiatives." Others point to ASEAN's traditional aversion to legally binding agreements. While progress has been made in reducing or eliminating intra-ASEAN trade tariffs, substantial non-tariff barriers to trade persist. However, for most member states, the ASEAN market is relatively small while external markets, especially China, are growing rapidly. Given this outward-orientation for ASEAN trade, is the lack of an unhindered regional market really a problem?
Description: For more about the East-West Center, see
Pages/Duration: 8 p.
ISSN: 1522-0966
Appears in Collections:AsiaPacific Issues

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