A Roadmap For The Asean Economic Community ( Aec ) Based On The Eu Model

Economically, Europe co-opting ideas with Asia would boost both economies especially Europe’s. Therefore, instead off trying to take over the Asian trade market, the nations should have joined forces and worked with each other’s idea. For example, instead of Britain trying to maintain dominance over

It is beneficial to us when assessing said statement to begin by considering the main reasons for the formation of social and economic groupings. First and foremost considering the 4 main types of alliances. Between Free Trade Areas and Customs Unions it is fair to say that the main goal is to restrict imports from non-member countries, in turn allowing the economies of the member countries to flourish and provide for themselves, amongst themselves, in terms of trade. Common Markets on the other hand keep import tariffs in place, instead allowing the free movement of labour and

Today’s Global economy is governed by a delicate balance of variables. The addition of a new economy to the global market affects all of the pre-existing variables, bringing with it a host challenges and opportunities. Much like an initial public offering, countries may “buy -in” or develop economic agreements with the emerging market economy (EME). This often results in the country “buying-in” to the emerging economy, getting services or products at a discounted rate, while the emerging economy gets business like China and the United States. These types of agreement may result in the poorer country sacrificing its citizens’ well being, to ramp up for economic growth, like China. In the end most countries economies are interconnected for example with the United States-Canada relationship. If one country’s economy were to collapse there would be strongly adverse effects on the

This organisation was essentially consists of 5 countries, Indonesia, Malaysia, Philippine, Singapore and Thailand. The main roles for this organisation are to accelerate economic growth, social progress, protection of regional stability and peace and the opportunities for these countries to resolves issues peacefully. Australia has become the first of ten dialogue partners of ASEAN.

Many countries look to import and export their goods or services they produce in their country in order to increase gross domestic product (GDP) or to obtain the product at a cheaper price. The Regional Comprehensive Economic Partnership (RCEP) is a partnership agreement that will expand the free trade region in the major Asian countries and increase the benefits. The Association of Southeast Asian Nations (ASEAN) is the sole carrier of the RCEP which plans on integrating the “Plus six”, partners China, Australia, Japan, India, New Zealand and South Korea in order to achieve the expansion of free trade. This free trade agreement plans on bringing together the three largest economies in Asia in hopes to achieve economic

The EU (European Union) has become a formidable power through trade, hence creating more problems with the rest of the world. Occasionally its dominance has helped it manipulate its trading partners. Starting with regional labor standards to development policies, and internationally ranging from global governance to foreign policy (Marshall & Jaggers, 2010).This paper will mainly focus on the EU as a dominant trade block. A factor that has undoubtedly contributed to the many conflicts it has internationally. The analysis includes different but recent trade related conflicts the EU is involved in and points out the factors that led to the misunderstanding, and in some cases if there was a third party involved in the issue. The analysis also shows if a form of solution was reached or if the dispute was left unresolved, and the possible outcomes it had during the time of the confrontation. Lastly, it summarizes the main ideas of the paper and gives a comprehensive overview of the analysis.

Since the last century, each country had begun to understand the importance of the cooperation. Consequently, The European Union [EU] was established in November 1, 1993. After that, other European countries became the member of the EU to promote the development of the whole Europe. Currently, the US, the only superpower country in this planet, is still looking for the assistance with the EU and Japan, South Korea and etc. The establishment of the World Bank, the World Trade Organization verifies the significance of the cooperation as well. Hence, for the future of globalization in East Asia, East Asia countries should set up an East Asian Union to guarantee the growth of all East Asia countries as well as to counteract

1. The Common Commercial Policy………………………………………………………...3 2. Instruments of the Common Commercial Policy…………………………………………5 3. The Dimensions of the Common Commercial Policy…………………………………….8 4. The European Neighborhood Policy……………………………………………………..13 5. The Union for the Mediterranean………………………………………………………..15 6. The European Union and Russia…………………………………………………………17 7. European Union’s Relations with Other Soviet Republics……………………………..19 8. The European Union and Asia…………………………………………………………..19 9. The European Union’s Relations with Australia and New Zealand……………………21 10. The European Union and USA…………………………………………………………..22 11. The European Union and Latin America………………………………………………..23

The EU recognizes that developmental efforts applied to individual cultural entities induce stability and a pro-western belief system (CS L2, 2013, 17). This framework serves to foster the integration of international partnerships with neighboring states and global partnerships with international powers such as the United States, Russia, the African Union, and the United Nations to pursue global stability through political, financial, and military efforts. The EU has also developed plans to invest and integrate with international organizations such as the World Trade Organization (WTO), Organization for Security and Cooperation in Europe (OSCE), Association of Southeast Asian Nations (ASEAN), (MERCOSER) and, Interpol to provide assistance in the foundation and continuance of an effective law and order structure, as well as fair trade principles within emerging democracies, and to assist recovering states with re-establishing financial and governmental integrity. These results will lead to an enhanced strategic position and level of security for the EU and its allies

Since 1945 the world has evolved immensely, with great power changes and ever-changing economies. Economic activity, in regards to expanded global trade and monetary policies being formed, with the increased communication technology and globalization, has created a widespread global interdependence. Nations rely more now than ever on other nation-states for trade purposes to maintain a consistent cohesion of their economies. With increased global interdependence came a need for institutions to manage and control the actions between nation-states and expand economies into other outlets globally that were seen as foreign such as Asia and some parts of Europe .

Southeast Asia consists of ten countries which are largely characterized by their membership within the Association of Southeast Asian Nations (ASEAN). The nations sit in a very important geographical location as the region sits astride key “choke points” for shipping between the Indian and Pacific Oceans, and as described by Bateman et al, “economically and strategically important to the economies of Northeast Asia, the United States, and the emerging maritime powers of Asia”. One of the key “choke points” located between Indonesia, Malaysia and Singapore is the Strait of Malacca – which was estimated to have 15.2 million barrels of oil pass through the strait a day in 2013. ASEAN was formed in 1967 by its five founding members – Indonesia, Malaysia, Philippines, Singapore and Thailand , during a time where the region was described as “conflict-ridden and akin to the Balkans of the East”. It was an era where these nation-states had just gained post-colonial independence, and the atmosphere was plagued with mutual distrust and uncertainty as the new found governments were still trying to find their footing.

The most representative regional economic organization in East Asia is ASEAN, which was established in Bangkok and formed by five founding members, Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei, Laos, Myanmar, Vietnam and Cambodia also joined successively to form the ten countries of ASEAN. ASEAN is abbreviated by Association of Southeast Asian Nations, which was built to contain the Communist forces with the purpose to steady military affairs and political neutrality initially. According to Tong (2005), the content of East Asian economic integration can be classified as Free Trade Agreement (FTA) and Comprehensive Economic Partnership (CEP). Previously, East Asian economic integration focuses on the operation of FTA which applies the zero tariffs on member countries; nowadays, economic cooperation agreement is inclined to CEP which contains wider issues of economic cooperation such as tariff reduction, deregulation of investment policy, enlargement of factors of production and etc. to draw the relation between member nations and achieve a higher level of integration (Jin, 2003). Moreover, the continuing goal of ASEAN is to promote the inter-regional economic development, enhance the partnership and maintain the peace in the region (Taiwan ASEAN Studies Center, 2014). Before Asian financial crisis, ASEAN is a representative of the regional economic organization that especially focuses on

Understanding of AEC refers to understand the economic integration in ASEAN which means to understand economic arrangement between different regions marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies (Investopedia).

The trouble-hit euro zone is hardly a poster child for regional economic integration, but it has yet to dent similar single-market efforts underway in Southeast Asia.

The purpose of this report is to analyze opportunity and challenges for the association of Southeast Asia Nation (ASEAN) to promote trade and economic integration in the region.