How ASEAN's Transformation Can Play Out Well for Europe

The transformation of ASEAN into an economic community is a significant step in the organisation's integration process. The project, formally launched at the beginning of 2016, aims at creation of a single market of more than 620 million people, loosens the flow of goods, services and investmen...

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Bibliographic Details
Published in:Policy File 2016
Main Author: Wnukowski, Damian
Format: Report
Language:English
Subjects:
Economic policy
International cooperation
International trade
International/Economic development
The Polish Institute of International Affairs
Online Access:Request full text
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Summary:The transformation of ASEAN into an economic community is a significant step in the organisation's integration process. The project, formally launched at the beginning of 2016, aims at creation of a single market of more than 620 million people, loosens the flow of goods, services and investment, which should underpin regional economic growth and catch the attention of foreign businesses. However, obstacles to economic cooperation remain, such as limitations on the movement of labour or capital, which shows that the integration process is not yet complete. The EU, which can benefit from a well-functioning market in this region, should share its own experience to support the ASEAN integration process.