Latest on ASEAN Regulations

 

RCEP

The Regional Comprehensive Economic Partnership is a proposed free trade agreement (FTA) between the ten ASEAN markets and the six Asia-Pacific states with which ASEAN has existing free trade agreements (Australia, China, India, Japan, South Korea and New Zealand) which aims to strengthen economic linkages, and enhance trade and investment flows.

 

ASEAN Economic Community

AEC has come a long way from the ASEAN Free Trade Area (AFTA) of the 1990s. It evolved from a trade liberalisation initiative to become a more comprehensive form of cooperation. A new AEC blueprint has been published articulating the pathway until 2025. Infrastructure or connectivity has been identified as a key determinant for economic integration, attracting FDI and distributing benefits more uniformly across people and small businesses.

 

Foreign Exchange Control

Unlike the common market of the European Union (EU), firms entering ASEAN’s Economic Community will be greeted by the notable absence of a common currency. Under ASEAN’s common marketplace, debt service, input pricing, and remittance of profits are all subject to the shifts in the value of the regions ten currencies. Sudden fluctuations in a given currency’s value can have significant cost implications for firms holding outstanding contracts or debts within the currency in question.

 ASEAN 

Other available FTAs to benefit from:

  • ASEAN-Australia-New Zealand FTA
  • ASEAN-China FTA
  • ASEAN-India FTA
  • ASEAN-Japan FTA
  • ASEAN-Republic of Korea FTA
  • ASEAN-Hong Kong FTA

In the works:

  • ASEAN-EU FTA
  • ASEAN-Canada FTA

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