ASEAN

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International Business

Submitted To:Fabiha EnamAssistant Professor

Submitted By:• Mahamuda Alam Asha• Nurun Nahar Akhter• Sadia Noor Ahmed • Samiur Rahman Sajal

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Content• Background information• Benefits for the members• Recent Projects• Our inspiration • Recent Projects• Future goal• Challenges in ASEAN Integration• Conclusion• Reference

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ASEANAssociation of South East Asian Nation

(Established in 1967)

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The Founding of ASEANOn 8 August 1967, five leaders – the Foreign Ministers of Indonesia, Malaysia, the Philippines, Singapore and Thailand – sat down together in the main hall of the Department of Foreign Affairs building in Bangkok, Thailand and signed a document. By virtue of that document, the Association of Southeast Asian Nations (ASEAN) was born. The five Foreign Ministers who signed it – Adam Malik of Indonesia, Narciso R. Ramos of the Philippines, Tun Abdul Razak of Malaysia, S. Rajaratnam of Singapore, and Thanat Khoman of Thailand – would subsequently be hailed as the Founding Fathers of probably the most successful inter-governmental organization in the developing world today. And the document that they signed would be known as the ASEAN Declaration.

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Benefits for the members Rules-based Community of

Shared Values and Norms Good Governance Human Rights Adherence to the

Principles of Democracy

Education and Human Resource Development

Science and ICT Entrepreneurship

Single Market and Production Base

Competitive Economic Region

Equitable Economic Development

Linkages to Global Economy

Health Natural Disasters &

Environment ASEAN’s Cultural

Heritage and Regional Identity

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Recent Projects

1.ASEAN Power Grid 2.Trans-ASEAN Gas Pipeline 3.Coal & Coal Trade 4.Energy Efficiency and Conservation 5.ASEAN Economic Powerhouse 6.Regional Energy Policy and Planning 

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ASEAN Power GridThe ASEAN Power Grid (APG) is a flagship program mandated in 1997 by the ASEAN Heads of States/Governments under the ASEAN Vision 2020 towards ensuring regional energy security while promoting the efficient utilization and sharing of resources. The investment requirement of the APG is estimated at USD 5.9 billion.

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Trans-ASEAN Gas PipelineOver the years, natural gas demand has increased tremendously while new gas finds are not imminent to meet this new regional demand growing yearly at about 7-8%. ASEAN consumes approximately 10 billion cubic feet per day of natural gas. So provide facilitate the implementation and realization of the Trans-ASEAN Gas Pipeline Infrastructure Project to ensure greater security of gas supply.

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Our inspiration

If ASEAN were a single country, it would already be the seventh-largest economy in the world, with a combined GDP of $2.4 trillion in 2013.

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Highly connected: Physically, Institutionally and among the Peoples

Free trade agreements with major regional economies

Young educated labor force

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DIVERSEHome to major

religions

Rich culture

Vast natural resources

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Future goal• Financial Services Liberalization and Capital Market

Development and Integration• Productivity-Driven Growth, Innovation, Research and

Development and Technology Commercialization• Narrowing the Development Gaps• Sustainable Development• Public Private Partnership (PPP)• Towards Facilitative Standards and Conformance

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Challenges in ASEAN Integration Availability of skilled workforce. Inflow of FDIs to the

region has placed tremendous pressure on countries in the region.

ASEAN has been very cautious on adopting the EU-style free movement of labor, whereby, regardless of skills and qualifications, the EU citizens can be freely employed in any other EU countries.

Promoting Public Private Sector Partnership as one possible approach to develop hard infrastructures in the region.

Balancing competing interests with internal integration and integration with FTA partners.

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Conclusion

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