Scribd
Upload
10 views

script

ASEAN, founded in 1967, initially aimed to counter external political and economic influences in Southeast Asia but has since evolved to focus on regional partnerships, economic growth, and stability. Key agreements like ACFTA, AIFTA, and AANZFTA promote trade and investment among member countries and external partners, while the ASEAN Economic Community aims for deeper economic integration. Additionally, organizations like APEC and GCC facilitate broader economic cooperation and political collaboration in their respective regions.

Uploaded by

Sheryll Dionela Pedregosa
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
10 views

script

ASEAN, founded in 1967, initially aimed to counter external political and economic influences in Southeast Asia but has since evolved to focus on regional partnerships, economic growth, and stability. Key agreements like ACFTA, AIFTA, and AANZFTA promote trade and investment among member countries and external partners, while the ASEAN Economic Community aims for deeper economic integration. Additionally, organizations like APEC and GCC facilitate broader economic cooperation and political collaboration in their respective regions.

Uploaded by

Sheryll Dionela Pedregosa
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

ASEAN

When ASEAN was founded in 1967 during the Cold War, its main purpose was to encourage cooperation among Southeast
Asian countries. At the time, there was a fear that powerful nations, such as China, Japan, India, and the United States,
might dominate the region politically or economically. ASEAN provided a way for member countries to unite and protect
their interests, ensuring that no single external power could exert too much influence.

Over the years, ASEAN’s focus has evolved. Today, its primary goals are no longer about countering external powers but
instead about building strong partnerships within the region. It focuses on areas like economic growth, social progress,
cultural exchange, and technical development. Another key goal is to promote peace and stability among its member
nations. ASEAN has become a platform where countries can work together to address shared challenges and advance their
collective interests.

ASEAN has established several key Free Trade Agreements (FTAs) with other countries and regions to boost economic
growth and cooperation.

ACFTA
This agreement, signed in 2002 and fully implemented in 2010, created one of the world’s largest free trade zones. The
primary goal of ACFTA was to eliminate tariffs on goods traded between ASEAN and China. By doing this, it aimed to make
products more affordable, increase trade opportunities, and give businesses better access to each other's markets.

For example, industries like electronics, agriculture, and textiles have seen major benefits from reduced trade barriers. This
has helped countries in the region grow their economies and compete globally.

AIFTA
The AIFTA was signed in 2009 to deepen economic ties between the ten ASEAN member countries and India. It was
designed to promote trade and investment by reducing tariffs and creating opportunities for businesses in the region.

One of the main goals of this agreement is to lower or remove tariffs on thousands of goods traded between ASEAN and
India. This makes products more affordable and encourages trade in areas like agriculture, textiles, machinery, and
chemicals.

Beyond trade in goods, the agreement also supports investments and cooperation in sectors like technology, infrastructure,
and energy, fostering long-term partnerships between businesses in ASEAN and India.

AANZFTA
The AANZFTA was signed in 2009 and is one of ASEAN’s most comprehensive trade agreements. It goes beyond just trade in
goods and covers investment and economic cooperation, aiming to deepen the economic ties between ASEAN, Australia,
and New Zealand."

"This agreement gives ASEAN access to two advanced economies—Australia and New Zealand—opening up opportunities
for technology sharing, skill development, and market access. In return, it allows Australia and New Zealand to connect with
ASEAN’s fast-growing and dynamic markets, creating a win-win situation for all parties involved.

By reducing tariffs and non-tariff barriers, AANZFTA makes it easier to trade goods like agricultural products, machinery, and
consumer goods. It also promotes investments in areas like infrastructure, education, and services, encouraging long-term
economic growth.

AEC
The ASEAN Economic Community was officially launched in 2015 with the aim of transforming ASEAN into a single market
and production base. This initiative was designed to promote deeper economic integration among the ten member states.

The AEC focuses on creating a region where goods, services, investment, capital, and skilled labor can flow freely across
borders.

Free Flow of Goods: This means reducing tariffs and other trade barriers to make it easier for businesses to trade within
ASEAN.
Free Flow of Services and Investment: Businesses can expand and invest across member states more freely, encouraging
economic growth and competition.
Capital Mobility: The AEC supports easier financial transactions and cross-border investments, making ASEAN more
attractive to global investors.
Skilled Labor Movement: Professionals like doctors, engineers, and teachers can work across ASEAN countries without
facing unnecessary restrictions.
APEC
Founded in 1989, APEC began as an informal forum with 12 members. Today, it has 21 member economies from both sides
of the Pacific Ocean, including the U.S., Canada, China, Australia, and others.

APEC uses the term "member economies" instead of "countries" to navigate political sensitivities and promote inclusivity.
For example, allowing Taiwan to participate under the name "Chinese Taipei" without implying sovereignty. This
terminology helps APEC focus on economic cooperation rather than political disputes, ensuring smoother collaboration
among its diverse members.

As a result of the Pacific Ocean connection, this geographic grouping includes the United States, Canada, Mexico, Chile,
Peru, Russia, Papua New Guinea, New Zealand, and Australia with their Asia Pacific Rim counterparts.33 This assortment of
economies and cultures has, at times, made for interesting and heated discussions.

However, despite all these diversities, APEC has successfully facilitated business, economic, and technical collaboration,
primarily focusing on fostering economic growth, liberalizing trade, and promoting cooperation.

GCC
The GCC is both a political and economic group. It works on improving trade, business, and social matters among its
members. Over time, it has also focused on political issues, like security and regional cooperation, making it just as much
about politics as it is about the economy.

Timeline of Key Events


1981: The GCC was founded to unite the six Gulf countries and focus on regional cooperation.
1984: The GCC established the Peninsula Shield Force, a joint military force based in Saudi Arabia, to protect member
countries from external threats and maintain regional security. This force has been deployed during major events, like the
Gulf War in the 1990s and to stabilize Bahrain in 2011.
1989: The GCC signed a cooperation agreement with the European Union (EU) to strengthen trade and economic ties. This
agreement also included collaboration on global challenges like climate change.
2008: A common market was created, allowing the free flow of trade, investments, and workers across member states to
boost economic growth.
2009: Four members—Bahrain, Saudi Arabia, Kuwait, and Qatar—formed a monetary council to work toward creating a
shared currency in the future.

AEC
Free trade zones are seen as a good solution for African countries because colonial borders often divided land without
considering if the new countries could support themselves economically. After gaining independence, many African nations
faced conflicts and poor governance, making it harder to work together.

In 2008, a plan was made to create a large free trade zone involving 26 countries, from Libya in the north to South Africa,
with a combined economy worth $624 billion. The African Economic Community (AEC) aims to create free trade areas,
customs unions, and eventually a shared currency and economic union to help African countries grow and cooperate better.

Several regional agreements function as pillars of the AEC:


The African Economic Community (AEC) is supported by several regional economic agreements that promote economic
integration, peace, and development across the continent.

Community of Sahel-Saharan States (CEN-SAD)


Focuses on enhancing cooperation among countries in the Sahel-Saharan region, including addressing issues like poverty,
development, and security.

Common Market for Eastern and Southern Africa (COMESA)


A trade bloc aiming to establish a large market for goods and services among Eastern and Southern African nations,
promoting economic integration through free trade agreements and cooperation on infrastructure projects.

Arab Maghreb Union (AMU/UMA)


The Union has been unable to achieve tangible progress on its goals due to deep economic and political disagreements
between Morocco and Algeria regarding, among others, the issue of Western Sahara. No high-level meetings have taken
place since 3 July 2008, and commentators regard the Union as largely dormant.

You might also like