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Domestic Consensus Vital for ASEAN Economic Integration

By Institute of South East Asian Studies

14 September 2015

EXECUTIVE SUMMARY

On 31st December 2015, the ten ASEAN member states will jointly announce the establishment of the ASEAN Economic Community (AEC). At present, these states have yet to fulfil all the stipulated targets stated in the AEC Blueprint. This Blueprint ultimately aims for an integrated market and a production base that allow for free movement of goods, services and skilled labour, as well as freer movement of capital.

One explanation for their shortcoming is the conflicting interests existing within the domestic economy. These generally involve technical, human and financial constraints; national priorities; bureaucratic complexities; preference for unilateral liberalization; differing interests among industry players; as well as lack of coherence in government policies.

What is needed to enhance the AEC beyond 2015 are improvements in four key areas: a) greater policy coherence in domestic economies; b) increased stakeholder consultation; c) identifying of winners and losers to mitigate the negative impact on domestic stakeholders; and d) overcoming resource constraints.

Please find the complete paper attached.

 



ISEAS - Domestic Consensus Vital for ASEAN Economic Integration