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Asean ppt Macroecon
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What is ASEAN?
• The Association of Southeast Asian Nations is an alliance promoting economic and political cooperation by fostering dialogue among its 10 members.
• It aims to promote collaboration and cooperation among member states
• it also aims to advance the interests of the region as a whole, including economic and trade growth.
• The ASEAN has negotiated a free trade agreement among member states & other countries
• Eased travel in the region for citizens of member countries
• It also promotes peace and stability in the region.
What is ASEAN Integration?
• The blueprint for realizing an ASEAN Economic Community (AEC) by 2015 was adopted and signed by ASEAN Leaders last November 2007.
• The blueprint provides roadmap & targets to be achieved for establishment of AEC by 2015.
What are the objectives of AEC?
• To have a single market and production base.• For the region to be highly competitive.• For the equitable economic development of the
region.• A region fully integrated into the global
economy.
AEC & Philippines
• Our country is one of the signatories in the AEC blueprint
• We should be open to zero import duties for ASEAN products
• ASEAN Member States nationals should be able to work anywhere in the region.
Advantages of AEC
• The Philippines' economic growth might accelerate due to higher demand for local products in the Asean market.
• Increased labor mobility in the ASEAN market may provide more job opportunities for Filipinos.
• Business firms might be attracted to invest in our country
Advantages of AEC
• Greater ASEAN integration will result in easy adaptation of cutting edge technology & best business practices.
Local Issues and Corresponding Solutions
• Having the highest marginal personal income tax rates & one of the highest corporate income tax rate in the region.
• Solution: the gov't has to make the tax system in sync with the rest of the region.
Local issues & solutions
• Poor infrastracture• Solution: the gov't has to find ways of reducing
the cost of power & making power supply reliable.
• Incompetent labor force against global work force
• Solution: The gov't has to continue to invest in human capital.
Local issues and Solutions
• Our sector is not yet ready for the integration. Some agricultural industries cannot compete with other member countries.
• Solution: Cost of production should be reduced and irrigation system should be improved.
Other Issues
• Varying levels of economic growth for member nations
• Varying impact of measures and initiatives on member economies
• Territorial disputes• Unresolved cultural differences• Westernization• Lack of ASEAN identity
Lachica, JustineMacalindol, VivienMarasigan, KathrinaZamora, Patrica