Minister of Industry and Trade Vu Huy Hoang has written an article onthe occasion of the 45th founding anniversary of the Association ofSoutheast Asian Nations (ASEAN) reviewing the group’s development and 17years of Vietnam’s positive and active participation.
ASEAN, which was established in 1967, includes 10 members, namelyBrunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Singapore, Thailand and Vietnam .
During45 years of development, ASEAN has affirmed to be one of the mostsuccessful regional cooperation models in the world, especially inregard to economics.
The ASEAN Charter which came into effect in2008 reiterated the goal of establishing the ASEAN Community based onthree pillars, namely political-security community, economic communityand socio-cultural community, marking an important milestone andestablishing ASEAN legality.
According to the article, overthe past 45 years, as a developing organisation, economic development ofthe ASEAN members has been the outstanding sector.
The debut of the Asean Economic Community (AEC) is the continuation of internal economic cooperation programmes.
The ASEAN Trade Goods Agreement (ATIGA), the ASEAN ComprehensiveInvestment Agreement (ACIA) and the ASEAN Framework Agreement onServices (AFAS) and many other methods in the AEC Blueprint by 2015 havecreated one of the most dynamic economic communities in the world.
AEC’sfocus is to develop a regional economy, based on the strength of 10connected ASEAN markets, with 600 million consumers and a combined GDPof over 1.85 trillion USD.
The AEC will build ASEAN into asingle market and production base, a highly competitive economicregion, a region of equitable economic development and fully integratedinto the global economy.
To date, ASEAN has implemented nearly 70 percent of measures put forth in the blueprint.
All 12 AEC sectors including finance, transport, agriculture,telecommunications, tourism, science-technology, energy-mining sectorsand sub-region cooperation have achieved positive results.
ASEAN is focused on internal development and integration between members, as well as with the global economic community.
This reflects an objective reality that ASEAN is an active and integrated part of the regional and international economy.
TheAEC is the centre interface of dozens of bilateral and multilateraltrade agreements that ASEAN has implemented or negotiated with countriessuch as China, Japan, the Republic of Korea, Australia, NewZealand and India .
The AEC has become an objective for economic cooperation by ASEAN and plays a key role in ASEAN efforts for connectivity.
ASEAN will become a common market and a single production base in orderto make full use of the common advantages of the region. Step by stepthe member countries are building a highly competitive, dynamic regionaleconomy, bringing prosperity for people in the region and memberstates.
For Vietnam, ASEAN is one of importantpillars in implementing the foreign policy of independence,self-reliance, diversification and multilateralism with active regionaland international integration.
ASEAN’s choice of strategic policywith the desire of economic integration of each member nation,including Vietnam , is modeled from that of the AEC.
ASEAN isone of Vietnam ’s leading trading partners and an important drivingforce in helping Vietnam ’s economy maintain its exports and growthover recent years.
Geographical position and regionaldevelopment and growth have increased trade between Vietnam andASEAN. Compared to that of 2003, two-way trade between Vietnam andASEAN in 2011 saw a four-fold increase to 35.3 billion USD, of whichASEAN accounted for 18 percent of the country’s total trade value.
Alsoin the reviewed period, Vietnam’s average export and import growthsto and from ASEAN were about 23 percent and 19 percent, respectively.
In many years, ASEAN maintained its position as Vietnam ’s largesttrading partner, exceeding the European Union, Japan and the US .Vietnam ’s exports to ASEAN increased from 2.9 billion USD in 2003 to14.1 billion USD in 2011.
ASEAN is also a large foreign directinvestment (FDI) source to Vietnam and serves as a link for otherinvestments from multinational companies headquartered in ASEANcountries. ASEAN members having large investments in Vietnam areSingapore, Malaysia, Thailand and Brunei .
In recentyears, Vietnam has participated in proactively building the AEC. Thecountry has cut more than 10,000 import tariffs accounting for 98percent of the total tariff list.
It also took part incooperation in a comprehensive manner with other ASEAN countries intraditional fields such as trade, services, investment, agriculture,transport and telecommunication and in new areas such as the protectionof intellectual property and consumer’s rights and developing acompetition policy.
Although having a lower level of developmentin comparison to other regional countries, Vietnam is one of fourASEAN countries with a high proportion of fulfilling commitments in themaster roadmap to implement the AEC.
In 2010, Vietnamsuccessfully assumed the role of ASEAN Chair, and focused onaccelerating the implementation of the AEC. At the 16th ASEAN Summitin Hanoi under the chairmanship of Vietnam, ASEAN leaders issuedthe “Statement on sustainable recovery and development”, affirming thedetermination to strengthen and build the ASEAN Economic Community by2015.
The AEC is offering opportunities and challenges toVietnam’s economy, businesses and people. As economic obstacles areremoved and goods, services and capital circulated freely in ASEAN, anyASEAN business or investor has the same opportunities in taking andpromoting the advantages of the single market created by the ASEANmember countries.
The AEC’s economic model will in time reflectmore closely that of Vietnam ’s growth model and support furthereconomic growth in both communities.
Thanks to the community’s joint efforts and the state’s due attention, the AEC will bring benefit to Vietnamese economy.-VNA
ASEAN, which was established in 1967, includes 10 members, namelyBrunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Singapore, Thailand and Vietnam .
During45 years of development, ASEAN has affirmed to be one of the mostsuccessful regional cooperation models in the world, especially inregard to economics.
The ASEAN Charter which came into effect in2008 reiterated the goal of establishing the ASEAN Community based onthree pillars, namely political-security community, economic communityand socio-cultural community, marking an important milestone andestablishing ASEAN legality.
According to the article, overthe past 45 years, as a developing organisation, economic development ofthe ASEAN members has been the outstanding sector.
The debut of the Asean Economic Community (AEC) is the continuation of internal economic cooperation programmes.
The ASEAN Trade Goods Agreement (ATIGA), the ASEAN ComprehensiveInvestment Agreement (ACIA) and the ASEAN Framework Agreement onServices (AFAS) and many other methods in the AEC Blueprint by 2015 havecreated one of the most dynamic economic communities in the world.
AEC’sfocus is to develop a regional economy, based on the strength of 10connected ASEAN markets, with 600 million consumers and a combined GDPof over 1.85 trillion USD.
The AEC will build ASEAN into asingle market and production base, a highly competitive economicregion, a region of equitable economic development and fully integratedinto the global economy.
To date, ASEAN has implemented nearly 70 percent of measures put forth in the blueprint.
All 12 AEC sectors including finance, transport, agriculture,telecommunications, tourism, science-technology, energy-mining sectorsand sub-region cooperation have achieved positive results.
ASEAN is focused on internal development and integration between members, as well as with the global economic community.
This reflects an objective reality that ASEAN is an active and integrated part of the regional and international economy.
TheAEC is the centre interface of dozens of bilateral and multilateraltrade agreements that ASEAN has implemented or negotiated with countriessuch as China, Japan, the Republic of Korea, Australia, NewZealand and India .
The AEC has become an objective for economic cooperation by ASEAN and plays a key role in ASEAN efforts for connectivity.
ASEAN will become a common market and a single production base in orderto make full use of the common advantages of the region. Step by stepthe member countries are building a highly competitive, dynamic regionaleconomy, bringing prosperity for people in the region and memberstates.
For Vietnam, ASEAN is one of importantpillars in implementing the foreign policy of independence,self-reliance, diversification and multilateralism with active regionaland international integration.
ASEAN’s choice of strategic policywith the desire of economic integration of each member nation,including Vietnam , is modeled from that of the AEC.
ASEAN isone of Vietnam ’s leading trading partners and an important drivingforce in helping Vietnam ’s economy maintain its exports and growthover recent years.
Geographical position and regionaldevelopment and growth have increased trade between Vietnam andASEAN. Compared to that of 2003, two-way trade between Vietnam andASEAN in 2011 saw a four-fold increase to 35.3 billion USD, of whichASEAN accounted for 18 percent of the country’s total trade value.
Alsoin the reviewed period, Vietnam’s average export and import growthsto and from ASEAN were about 23 percent and 19 percent, respectively.
In many years, ASEAN maintained its position as Vietnam ’s largesttrading partner, exceeding the European Union, Japan and the US .Vietnam ’s exports to ASEAN increased from 2.9 billion USD in 2003 to14.1 billion USD in 2011.
ASEAN is also a large foreign directinvestment (FDI) source to Vietnam and serves as a link for otherinvestments from multinational companies headquartered in ASEANcountries. ASEAN members having large investments in Vietnam areSingapore, Malaysia, Thailand and Brunei .
In recentyears, Vietnam has participated in proactively building the AEC. Thecountry has cut more than 10,000 import tariffs accounting for 98percent of the total tariff list.
It also took part incooperation in a comprehensive manner with other ASEAN countries intraditional fields such as trade, services, investment, agriculture,transport and telecommunication and in new areas such as the protectionof intellectual property and consumer’s rights and developing acompetition policy.
Although having a lower level of developmentin comparison to other regional countries, Vietnam is one of fourASEAN countries with a high proportion of fulfilling commitments in themaster roadmap to implement the AEC.
In 2010, Vietnamsuccessfully assumed the role of ASEAN Chair, and focused onaccelerating the implementation of the AEC. At the 16th ASEAN Summitin Hanoi under the chairmanship of Vietnam, ASEAN leaders issuedthe “Statement on sustainable recovery and development”, affirming thedetermination to strengthen and build the ASEAN Economic Community by2015.
The AEC is offering opportunities and challenges toVietnam’s economy, businesses and people. As economic obstacles areremoved and goods, services and capital circulated freely in ASEAN, anyASEAN business or investor has the same opportunities in taking andpromoting the advantages of the single market created by the ASEANmember countries.
The AEC’s economic model will in time reflectmore closely that of Vietnam ’s growth model and support furthereconomic growth in both communities.
Thanks to the community’s joint efforts and the state’s due attention, the AEC will bring benefit to Vietnamese economy.-VNA
