Resource information
The Association of Southeast Asian
Nations (ASEAN) brings together ten countries with over 620
million people and a combined gross domestic product of more
than USD 2.5 trillion. These countries are well integrated
into the global economy and have benefited from this
integration. And, as evidenced by their adoption of the
ambitious goal of forming an ASEAN Economic Community (AEC)
by 2015, they are committed to even deeper regional
integration. This report takes stock of ASEAN’s achievements
in services integration, delineates the potential gains from
further integration and highlights the challenges that
remain. Recognizing the role of services in spurring
economic growth and job creation, including in manufacturing
and agriculture, regional policymakers have committed to an
ambitious plan for integrating their services sectors as a
core element of the AEC. As the report highlights, there are
successes in some sectors, such as in health in Thailand,
education in Malaysia and finance in Singapore, on which
future actions can build. Nevertheless, intra-ASEAN trade in
services remains low relative to the economic size,
complementarity and geographical proximity of ASEAN member
states. As the report notes, there are still a range of
policies in ASEAN economies that impede services
integration. Overall, the data and analysis show that while
there has been good progress in making commitments to
integrate services trade, more needs to be done to fully
realize the goals laid out in the AEC Blueprint. The report
reviews approaches to negotiations and institutional
processes underlying services integration. It provides a
range of specific recommendations on implementing
commitments, enhancing transparency, and strengthening the
institutional framework and negotiating modalities. Finally,
it highlights priorities for regional regulatory reform and
cooperation as a means of deepening services integration.
