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ASEAN Economic Community: Aspirations VS Preparations
As the year 2012 dawned, clock started ticking away for approximately 600 million people of the Association of South East Asian Nations (ASEAN), a sub-regional grouping that aims to become a single entity as the ASEAN Economic Community, AEC, in the year 2015, a move that would make it the ninth largest economy of the world.
With all the hypes going on around the sub-region that covers a land area of 4.46 million square kilometers, 3% of the total land area of the Earth, the habitat of 8.8% of the world population, questions remain over the readiness of the ten nations involved.
ASEAN originally set 2020 for its economic integration, but with continued positive economic trend, ASEAN decided to accelerate the process for the goal to be achieved in 2015.
Thailand as a founding member, with Bangkok as the birthplace of ASEAN, seems to have no excuse to be ill-prepared for the AEC. After all, uncountable ASEAN functions and events took place in Thailand since the Bangkok Declaration establishing ASEAN on 8 August 1967, then comprising five countries, Indonesia, Malaysia, the Philippines, Singapore and Thailand.
In reality, however, the past few years have been tumultuous with political tension and natural disasters in the country, causing a major setback for the preparations.
With full economic integration, there will be free flow of goods and services in the sub-region, with trade facilitation through cooperation in customs as well as transportation and communications. ASEAN is also committed to progressively eliminate all forms of restrictions that affect national treatment and market access limitations. There will be free movement of professionals and skilled labor in ASEAN by 2015.
ASEAN has also been active in establishing external economic relations, through negotiations with Dialogue Partners such as China, India, Australia, New Zealand, EU and the US for Free Trade Agreements (FTAs) and Comprehensive Economic Partnerships (CEPs).
All that said and done, every nation in the grouping has to reach out to its nationals and keep them informed of the opportunities or damages that come with the AEC. At the same time, young generations must be prepared as ASEAN citizens through education.
2015 is less than three years away, and every passing day is important for the internal process of AEC to be established in the hearts and minds of the people in the country. Otherwise, the economic integration could turn to be a nightmare, rather than a golden opportunity to the nation.