Rules on ASEAN’s Economic Integration
Economic Integration - is an arrangement among nation that
includes the reduction or elimination of trade barriers. It aims
to reduce costs for both consumers and producers and to
increase trade between the countries involved in agreement.
Advantages
Creation of Trade
Employment Opportunities
Consensus and Cooperation
Disadvantages
Diversion of Trade
Erosion of National Sovereignty
Employment Shifts and Reduction
Note: Economic Integration can reduce the costs of trade,
improve the availability of goods and services, and gains in
efficiency that lead to greater purchasing power.
ASEAN
×Association of Southeast Asia Nations (ASEAN)
established on August 8, 1967 in Bangkok, Thailand
×Five founding members, namely, Indonesia, Malaysia,
Philippines, Singapore and Thailand
×A regional organization of 10 Southeast Asian and Pacific
Rim countries whose governments collaborate to promote
socio-cultural, economic, and political advancement in the
region.
THE ASEAN OBJECTIVES
(1) To accelerate economic growth, social progress, and
cultural development in the region; 2) To promote regional
peace and stability through abiding respect for justice and the
rule of law in the relationship among countries and adherence
to the principles of the Charter.
3 pillars:
(1) ASEAN Security Community (ASC)
(2) ASEAN Economic Community (AEC)
(3) ASEAN Socio-Cultural Community (ASCC)
ASEAN Security Community (ASC)
shall aim to ensure that countries in the region live at peace
with one another and with the world in a just, democratic, and
harmonious environment.
ASEAN Socio-Cultural Community
ASCC shall foster cooperation in social development aimed at
raising the standard of living of disadvantaged groups and the
rural population, and shall seek the active involvement of all
sectors of Society, in particular women, youth, and local
communities.
The Bottom Line
The Association of Southeast Asian Nations - is a bloc that is
a large player on the world stage, both in terms of its economic
influence and positioning between China and the United
States.
3.6.1: APEC's Operation objectives and Principles
The Asia-Pacific Economic Cooperation (APEC) is an
economic group of 21 members, formed in 1989, with the
primary goal of promoting free trade and sustainable
development in the Pacific Rim economies.
Fundamental Principles of APEC's Operation"
Comprehensiveness GATT/WTO Consistency • Comparability
Non-discrimination •Transparency • Standstill • Simultaneous
start • Flexibility. • Technical cooperation
Strategic Plans of Philippines as member of APEC
Tariff and Non-Tariff Issues • Customs Issues • Trade in
Services • Standards and Harmonization • Cooperation in the
Future
Internal Market
No restrictions on trade inside the EU
No customs duties at borders
Companies can trade freely with one another.
Regulations on Other Fields
The Social Chapter
- part of the TEC
- deals with the equal treatment of men and women
under Article 141 of the TEC and the regulation of
working time under the Working Time Directive.
Directive Act 2006/54/EC
- an anti-discrimination legislation.
- equal opportunities and treatment of men and women on
employment and occupation
TEC-Treaty Establishing the European Community
European Social Charter
Council of Europe treaty
Guarantees fundamental social and economic rights
as European Convention on Human Rights, which
refers to civil and political rights.
Guarantees human rights related to employment,
housing, health, education, social protection and
welfare.
Protects elderly people, children, people with
disabilities and migrants.
Abovementioned rights guaranteed without
discrimination.
The Charter is therefore seen as the Social Constitution of
Europe.
EU Competition Law
In the EU, competition law is an important part of ensuring
the completion of the internal market, meaning the free flow
of working people, goods, services and capital in a borderless
Europe.
In a truly competitive market;
consumers benefit from price competition
greater product development
improved product specifications
better quality of service between competitors
Competition law is concerned with agreements or practices
which actually or potentially distort competition within a
market in a way which is ultimately detrimental to the
consumer.
COURT OF JUSTICE EU
interprets EU law to make sure it is applied in the
same way in all EU countries
settles legal disputes between national governments
and EU institutions.
NATIONAL COURTS
National courts play a key role in the enforcement of
European competition policy
Provides information on the application of Antitrust
law by national courts.
EUROPEAN COMMISSION
The European Commission is the EU's politically
independent executive arm.
It is alone responsible for drawing up proposals for
new European legislation
Implements the decisions of the European Parliament
and the Council of the EU.
