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ASEANEconomicCommunity(AEC):Progress,ChallengesandOpportunities
ASEANBusinessRoundtable:EngagingwiththeASEANOpportunity
Jakarta,Indonesia25March2015
1
Content
I AEC : key achievements and progressI AEC : key achievements and progressII Impact of Integration III Opportunities in Infrastructure InvestmentIV ASEAN 2015 and Post-2015IV ASEAN 2015 and Post 2015
2
ASEANEconomicCommunity:Key AchievementsKeyAchievements
and ProgressandProgress
3
AEC Milestones.
ASEAN AECPreferential Trading
Arrangement Vientiane Plan ofA i
ASEAN Framework Agreement
S iRoadmap for
ASEAN
ASEAN Investment Agreement
Hanoi Plan of Action
AEC
Actionon Services an ASEAN Community
1967 1992 1997 20031998 20091977 1995 2004 20082007 2011 2015
Bali Concord
Birth of ASEAN
ASEAN Free
Trade Area
ASEAN Vision 2020
AEC
Bali Concord II
(ASEAN ASEAN Ch
III(RCEP/AFEED)
2020 Blueprint (
Community) Charter
4
ASEAN ECONOMIC COMMUNITY
STRATEGIC SCHEDULE OF THE AEC BLUEPRINT (2008-2015)
Pillar 1Single Market
Pillar 2 Competitive Economic
Pillar 3Equitable Economic
Pillar 4 Integration into Single Market
& Production BaseCompetitive Economic
RegionEquitable Economic
DevelopmentIntegration into
the Global Economy
Free flow of goods Free flow of services Free flow of
investment
Competition policy Consumer
protection Intellectual
SME development Initiative for ASEAN
Integration
Coherent approach towards externaleconomic relations
Enhanced Freer flow of capital Free flow of skilled
labor Priority Integration
Sectors
property rights Infrastructure
development Taxation
E Commerce
participation in global supply networks
Sectors Food, agriculture
and forestry
E-Commerce
HUMAN RESOURCE DEVELOPMENT RESEARCH AND DEVELOPMENT5
Single Market and Production Base
6
Trade in Goods
Tariffs .
ASEAN-6 99.65% tariff lineseliminated CLMV almost 98% tariff lines
reduced to 0-5%
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Trade in Goods
Non-tariff barriers and processes b i i dbeing improved
NTM
ASEANTradeR itRepository
SelfCertification
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Trade in Goods.
Customs Standards Rules of Origin
ASEANSingleWindow
Singleregulatoryregime/framework
RVC40%orWindow
ASWPilotProject
agreement(cosmetics,EEE,medicaldevices,tradtnlmedicines)
i i f
orChangeintariffclassification
CustomsTransitSystem
Harmonisation ofstandardsMRAs(pharmaceutical,EE)
SelfCertification
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Trade in Services
ASEAN FRAMEWORK AGREEMENT ON TRADE IN SERVICES (AFAS)
Movement of Natural Persons (MNP) AgreementMovement of Natural Persons (MNP) AgreementMovementofNaturalPersons(MNP)AgreementMovementofNaturalPersons(MNP)Agreement
9th PackageofCommitments9th PackageofCommitments
Thefinal10th Packageby2015Thefinal10th Packageby2015
NegotiationoftheASEANTradeinServicesAgreement(ATISA)by2015NegotiationoftheASEANTradeinServicesAgreement(ATISA)by2015
10
Investment
ASEAN COMPREHENSIVE INVESTMENT AGREEMENT (ACIA)
l
Progressiveliberalisation
ACIAsignedin
ProtocoltoamendACIAsigned in
ofrestrictionsby2015
g2009
signedinAugust2014
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Competitive ASEAN Regionp g
12
COMPETITION POLICY
Strengthening Regulatory Environment in ASEAN
Institutional-Building and Enforcement of CPL
7 AMS have Competition Law (CPL) and Competition Authorities in place
Kick-off Workshop on Sector Studies for the AEGC
Advice on Drafting
Guidelines on Developing Core Competencies
Competition Regulatory Experts S d t
in ASEAN of CPL
Competition Laws and Implementing Regulations for the AEGC
Secondment Building Competition Law
Enforcement Capability
AEGC WebsiteC
ASEAN Competition Conferencef
Strategy and Tools for Regional Competition Advocacy
Cross-Cutting Regional Initiatives
Phase II Regional Competition Advocacy
In-Country Workshop in CLM to Raise Awareness and/ Study on Economic Benefits and Possible
Development of a Regional Cooperation Framework on Enforcement, Information-Sharing, and Technical Assistance Relative to CPL
Challenges of CPL Workshop on Promoting
Business Compliance for CPL in ASEAN
CONSUMER PROTECTION
Promoting consumer welfare and interests
9 AMShaveconsumerprotectionlaws
Crossborderconsumerredress
Rapid Alert SystemRapidAlertSystem
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INTELLECTUAL PROPERTY
ActivitiesMain Elements 6 months turnaround time by 2015 (filing to registration) Best practices in eliminating backlog Improved IT system/ manual of substantive examination Accession to Madrid Protocol/advocacy/usage Use of the regional classification of ethnic goods and services as supplement
Trademarks
ASEAN Patent Search and Examination Cooperation (ASPEC), a regional patent work-sharing program, has been operational since 2012
ASPEC is utilized by at least 5% of patent applicants by 2015Patents
Use of the regional classification of ethnic goods and services as supplement to Nice classification
ASPEC is utilized by at least 5% of patent applicants by 2015 Accession to the Patent Cooperation Treaty by AMS Establish network of patent libraries
Effective use of copyright system by 2015 Study on contribution of copyrights in each AMS
Cy y g
Establishment of collective management societiesCopyrights
Accession to the Hague/advocacy/usage by 7 AMS by 2015I d t i l Accession to the Hague/advocacy/usage by 7 AMS by 2015Industrial Designs
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Infrastructure Development
7
Infrastructure Development
AirLandSea
Liberalization of Air Transport Services ASEAN Highway Network Singapore Kunming Rail LinkSea
Transportg p g
ASEAN Transport Facilitation Agreement
Lower Intra-ASEAN Mobile Roaming Charges Di it li ti f B i th h ASEAN ICT Digitalization of Business through ASEAN
Broadband CorridorICT
ASEAN Power Gridl
Energy Trans-ASEAN Gas Pipeline
gy
EQUITABLE ECONOMIC REGIONQ
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Initiative for ASEAN Integration
Narrowing the Development Gap in ASEAN across the three ASEAN Communities
ASEANEconomicCommunity
ASEANSociocultural
Community
ASEANPoliticalSecurity
Community
InitiativeforASEANIntegrationInitiativeforASEANIntegration
Cambodia, Lao PDR, Myanmar, Viet Nam or CLMV assisted in implementing theircommitments ensuring that benefits of ASEAN integration are equitably shared.
A S&D/Positive-bias approach: Growing the ASEAN cake and increasing the share going to theCLMV countries.
Publication on Narrowing the Development Gap in ASEAN: Drivers and Policy Options (2013) Mid-term Review of the IAI Work Plan II (2009-2015) Completed
18 18
SME DEVELOPMENT
Developmentofsmallandmediumenterprises
P Progress: Strategic Action Plan for SME
Development (20102015) SME Service Center Web Portal, with
Regional, Subregional Linkages SME Guidebook Towards AEC 2015 ASEAN Benchmark for SME Credit Rating
Methodologygy ASEAN Business Incubation Network
(ABINet) The ASEAN Business Awards, focusing on
Young and Innovative SMEs inYoung and Innovative SMEs, incollaboration with ASEAN BusinessAdvisory Council (ASEANBAC)
19
INTEGRATION INTO GLOBAL ECONOMY
20
Emerging Regional Architecture
ASEANs
AFTA ACFTA AKFTA AJCEP AIFTA AANZFTA AHKFTA
ASEANsother
external economic partnerspartners
21
R i l FTA
9
Regional FTAsEntry
Into ForceSize of Market
Size of Economy ($)
Total Trade ($)Into Force Market Economy ($) Trade ($)
ACFTA (China) 2005 1.98 B 11.3 T 351 B
AKFTA (Korea) 2007 0.67 B 3.59 T 135 B
AJCEP (Japan) 2008 0.75 B 7.41 T 241 B
AANZFTA (Aus-Nzl) 2010 0 65 B 4 07 T 78 BAANZFTA (Aus Nzl) 2010 0.65 B 4.07 T 78 B
AIFTA (India) 2010 1.87 B 4.16 T 68 B
AHKFTA (Hong Kong) Jul 2014* 0.63 B 2.67 T 97 B
*RCEP May 2013* 3.4 B 20.9 T 872 B
* First round of negotiations
ImpactofIntegrationp g
23
ASEAN Economic Performance
ASEAN GDP
7.8%8%
9%
4 7% 4.9%
5.8%5.1%
6%
7%
4.7% 4.9%
3%
4%
5%
1.8%
1%
2%
3%
0%
1%
2008 2009 2010 2011 2012 2013
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008 009 0 0 0 0 0 3
Source:ASEANIntegrationMonitoringOffice(AIMO)
Net Inflow of FDIs to ASEAN ( 2009-2013)
by major source country
Brunei Darussalam Malaysia
9 2%
by receiving country
EU, Japan
China,5.8%
0.8%Cambodia
1.0%Indonesia
15.6% Lao PDR0.4%
9.2%Myanmar
1.9%
Philippines
Thailand8.6%
Viet Nam8.4%
,21.2%
ASEAN,16.4%
Japan,14.8%
USA,8.6%
Others,33.2%
Philippines2.4%
Singapore51.6%
Notes: Data for 2013 are preliminary figures; Lao PDR's data on 'by source country' are not yet available.
Source of data: ASEAN FDI Database 27
OpportunitiesinInfrastructure InvestmentInfrastructureInvestment
28
Public-Private Partnership- Investment OpportunitiesInvestment Opportunities
Infrastructure investment has been identified as a critical componentin fostering economic and social de elopmentin fostering economic and social development.
ASEANs infrastructure requires USD 60 billion annually until 2020.
Private participation in infrastructure provision can enhance existing Private participation in infrastructure provision can enhance existingpublic capacity in providing economic (e.g.
transport, telecommunication, power, water and sanitation) and social
(e.g. health and education) infrastructures.
The role of the private sector in infrastructure financing is seen to bevital to help meet this ASEANs infrastructure requirementsvital to help meet this ASEAN s infrastructure requirements.
A set of nonbinding PublicPrivate Partnership (PPP) Principles tofacilitate a predictable and efficient PPP environment was adopted.
29
dASEAN2015andPost2015
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ASEAN Economic Community (AEC) Scorecard andASEANEconomicCommunity(AEC)ScorecardandPrioritisedKeyDeliverables
82.1%ofPrioritised KeyDeliverablesby2013havebeenimplemented188outof229(82.1%)
Prioritised Key Deliverables by 201361Key
li bl fPrioritisedKeyDeliverablesby2013havebeenimplemented
Deliverablesfor2014to2015*havebeen
implemented
2008 2009
Phase1
2010 2011
Phase2
2012 2013
Phase3
2014 2015
Phase4
31
Status as of October 2014* 2015 deliverables are also Prioritised Key Deliverables by 2015, in response to the Phnom Penh Agenda (2012)Source: Chairman's Statement of the 25th ASEAN Summit: "Moving Forward in Unity to a Peaceful and Prosperous Community," Nay Pyi Taw, Myanmar, 12 November 2014.
Key Challenges in Achieving AEC 2015y g g
Diversity of its Member States and the economic status of such ayhuge segment of the ASEAN population.
Gap between rich and poor AMSs remains very large and AMSshave a mixed record on income inequality.
Many regional initiatives which were not able to be incorporatedinto national plans, as the less developed countries faced resourceconstraints to implement the regional commitments.
iff l l f l l f k d l d l k f Different levels of legal framework development and lack ofinstitutional capacity in AMSs hindered their effective and timelyimplementation of regional commitmentsimplementation of regional commitments.
Lack of engagements with private sector can pose a big challengefor a successful implementation of the AEC.for a successful implementation of the AEC.
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Way Forwardy
Accelerating the ratification of signed ASEAN agreements/protocol.g g g /p Advancing judiciously the alignment of regional initiatives and
domestic laws and regulations.
Providing adequate support and resources to implement countryspecific and regional measures.
Maintaining the momentum towards a fully functioning AEC, byfollowing through on commitments with effective implementation.
Ensuring that the AMS effectively implement measures to deepeneconomic integration and provide conducive environment forb siness acti ities to boost economic gro th and the regionsbusiness activities to boost economic growth and the regionsdevelopment.
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P i iti t d AEC 2015 Priorities towards AEC 2015
Fasttracktheimplementationtheprioritised AECdeliverables: Beyondtariffs:Improvedtradefacilitation ASW,selfcertification,NTBs Beyondcommitments:makingrules®ulationsworky g g Themissinglinks:transportnetworksandthequalityoftransportinfrastructure
Improve communication and outreach to stakeholders:Improvecommunicationandoutreachtostakeholders: AccesstoInformationonbenefitsofAECissuboptimal Appropriatekeymessagestonational®ionalaudiencesneeded
Finalise theAECspost2015agendafordeeperREI: ToensureexpeditiouscompletionofoutstandingAEC2015measures ToincorporatelessonsandexperiencesfromAEC2015andbeforwardlooking
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Beyond AEC 2015Beyond AEC 2015
In2013,LeaderscommittedtocreatingaPost2015Visiontorealise: Acommunitythatispoliticallycohesive,economicallyintegrated,sociallyresponsibleandatrulypeopleoriented,peoplecentred andrulesbasedASEAN.
NayPyi TawDeclarationonASEANCommunitysPost2015Vision: AdoptedbyLeadersatthe25thSummiton12November2014. Centralelementsendorsed asabasisforfulldevelopment;aHighLevelTaskForcetofurtherdevelopthePost2015Vision;crosspillarcoordinationenhanced.
AEC 2025:AEC2025:(i) IntegratedandHighlyCohesiveEconomy;
(ii) Competitive,InnovativeandDynamicASEAN;
(iii) EnhancedSectoral IntegrationandCooperation;
(iv) Resilient,InclusiveandPeopleOrientedandPeopleCentred ASEAN;and
(v) GlobalASEAN.
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Thank you!Thankyou!
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