ASEAN Economic Blueprint 2025 - Is it ASEAN’s blueprint to success?

Published: 04.10.2017 Related countries:  Singapore Singapore

Is this ASEAN's blueprint to success?

The ASEAN Economic Blueprint 2015 saw trade and skilled labour liberalization, toughening consumer protection and intellectual property rights and enhancing external relations, amongst other things. Following this largely successful implementation and to continue advancing, ASEAN Economic Blueprint 2025 was adopted by leaders in 2015.

The blueprint’s main aims and elements are:

A highly integrated & cohesive economy – to continue eliminating tariffs and other trade barriers, liberalizing financial markets with more cohesive regulations, as well as building up participation in global value chains through regional marketing tactics and

  • Competitive, Innovative & Dynamic ASEAN – through setting more effective competition policies, enhancing consumer protection and consumer confidence and stepping up Intellectual Property Rights. Other key strategies include Research & Development, improving taxation agreements amongst members and ensuring more transparent business-friendly governance.

  • Enhanced Connectivity & Sectoral Cooperation – to further harmonize and link up the various industry sectors to boost ASEAN’s competitiveness and productivity. Key sectors include transport, Ecommerce, Information & Communications Technology, Food & Agriculture, Science & Technology, Tourism, Energy, Healthcare and Minerals.

  • A Resilient, Inclusive & People-Oriented ASEAN – realizing the importance of existing stakeholders, ASEAN seeks to enforce their contributions and support them. These include Micro, Small and Medium Enterprises, Private Sectors and Public-Private Partnerships.

  • A Global ASEAN – to better centralize itself in the world economy, ASEAN has since developed many Free Trade agreements and partnerships with China, Japan, Republic of Korea, Australia and New Zealand. Beyond these, ASEAN is also looking to further extend its other trade networks – the Hong Kong-ASEAN free-trade deal is slated to be signed by November 2017.

 

As per source: www.scotsbridge.net/blog/asean-economic-blueprint-2025-is-it-aseans-blueprint-to-success/