“The ASEAN market is a highly attractive market for foreign direct investments”
With its total of 10 member countries, ASEAN boasts of about 540 million population, with foreign reserves of more than USD370 billion and a total GDP of more than USD 1 trillion! Latest economic analysis showed that ASEAN-6’s GDP growth grows above world average. The average world growth was about 3.1 percent, meanwhile ASEAN-6 countries (Singapore, Indonesia, Vietnam, Malaysia, the Philippines, and Thailand) has GDP growth in between 4 to 6 percent. In Asia, ASEAN produces around 22% of Asia’s total exports, placing it behind China, but ahead of Japan.
Large and diverse enough, the ASEAN market is a highly attractive market for foreign direct investment. With much less competition, as compared to India and China’s markets, ASEAN proves to be a profitable market. Many MNCs which have started operations in ASEAN are seeing positive growth.
In this section are some selected articles, books, journals, and speeches that promotes ASEAN as one market.
Articles on ASEAN as one market
“A Brief on ASEAN Economic Integration”
Studies Unit, Bureau for Economic Integration and Finance
ASEAN Secretariat, June 2006
This brief is structured in five parts: (a) specifications (or configurations) of the AEC; (b) key elements (or prerequisites) of the AEC; (c) risks and challenges in AEC building; (d) Progress to date toward AEC formation; and (e) remaining agenda in AEC establishment.
“Civil Society and the Association of Southeast Asian Nations(ASEAN)”
Compiled and published by the International Council on Social Welfare
The paper describes the history and evolution of ASEAN, describe the structures and
mechanisms that guide the work of ASEAN, review some of the mechanisms for social development organizations to be involved at the level of ASEAN, and look at the opportunities for interaction by civil society organizations with the ASEAN Secretariat.
“Facilitating Trade with the ASEAN Single Window”
ASEAN Secretariat, 13 April, 2007
A brief fact sheet providing information on the ASEAN Single Window.
“The ASEAN Investment Area”
ASEAN Secretariat, 16 April, 2007
A brief fact sheet providing insights of ASEAN moving towards a liberal investment area.
“An Investigation into the Measures Affecting the Integration of ASEAN’s Priority Sectors”
Centre for International Economic Studies
The University of Adelaide, April 2006
This report compiles details of existing inventories of policy and other measures that impede the establishment of a single market. It also reviews work on the use of survey methods to collect information on the significance of the measures.
“ On the ASEAN Harmonised Cosmetic Regulatory Scheme”
An example of a One ASEAN Market effort: Discusses the planning needed for a one ASEAN market in the cosmetic industry.
“Innovation is ASEAN’s Achilles Heel”
Straits Times, 30 November 2004
Author highlighted that although ASEAN countries have achieved outstanding economic growth in the past two decades, productivity gains from new knowledge and technological progress contributed just a third or less to the increase in income. He encourages more information exchange, protection of intellectual property, etc…
“East Asia Summit: Keeping the momentum going”
The Straits Times, 29 December 2005
Provides his views on efforts to consolidate an ASEAN community.
“Priority integration sectors: performance and challenges”
Bangkok Post, Opinion and Analysis, pp 12, 29 August 2006
The article speaks of ASEAN’s progress as an ASEAN Economic Community. While having prowess in manufacturing, cutting-edge creativity has long been Asean’s Achilles heel.