Book contents
- Frontmatter
- Contents
- Foreword
- Preface
- Acknowledgements
- The Contributors
- 1 Assessing the Progress and Impediments Towards an ASEAN Economic Community
- 2 Monitoring the ASEAN Economic Community: Issues and Challenges
- 3 Towards AEC 2015: Free Flow of Goods within ASEAN
- 4 An Assessment of Services Sector Liberalization in ASEAN
- 5 The Investment Dimension of ASEAN
- 6 Free Flow of Skilled Labour in ASEAN
- 7 Infrastructure Development in ASEAN
- 8 SME Development in ASEAN: A Cambodian Case Study
- 9 Effectiveness of Initiative for ASEAN Integration
- 10 Myanmar in the ASEAN Economic Community: Preparing for the Future
- Index
2 - Monitoring the ASEAN Economic Community: Issues and Challenges
Published online by Cambridge University Press: 21 October 2015
- Frontmatter
- Contents
- Foreword
- Preface
- Acknowledgements
- The Contributors
- 1 Assessing the Progress and Impediments Towards an ASEAN Economic Community
- 2 Monitoring the ASEAN Economic Community: Issues and Challenges
- 3 Towards AEC 2015: Free Flow of Goods within ASEAN
- 4 An Assessment of Services Sector Liberalization in ASEAN
- 5 The Investment Dimension of ASEAN
- 6 Free Flow of Skilled Labour in ASEAN
- 7 Infrastructure Development in ASEAN
- 8 SME Development in ASEAN: A Cambodian Case Study
- 9 Effectiveness of Initiative for ASEAN Integration
- 10 Myanmar in the ASEAN Economic Community: Preparing for the Future
- Index
Summary
Regional economic integration is a complex process. It requires not only the ability to implement initiatives to support the markets, but also a high level of commitment by countries to ensure that policies are supportive of integration. Effective and sustainable regional integration process can only be reached with sufficient levels of participation by relevant stakeholders and systematic monitoring of the various initiatives and measures.
It is within this context that the monitoring of the ASEAN Economic Community (AEC) should be viewed. Ever since ASEAN has envisioned building an integrated region by 2015, efforts have been strengthened to ensure that this objective can be achieved. Obviously, building an economic community is not easy, given the diversity of the region and the challenges facing the countries in the implementation of various measures. Hence, monitoring the progress of AEC implementation is crucial.
I. Monitoring the AEC: Some Fundamentals
One approach towards monitoring ASEAN economic integration is the AEC Scorecard. Developed in 2008 to support the AEC Blueprint, the Scorecard is designed to measure the implementation of the various measures under the AEC Blueprint, as well as to track the extent to which countries comply with their commitments in the Blueprint. It covers the four elements under the AEC Blueprint, namely: a single market and production base; a highly competitive economic region; a region of equitable economic development; and a region fully integrated into the global economy.
The AEC Scorecard at this juncture is only a compliance tool to ensure ASEAN and its member states are on track with the implementation of their commitments. It is not a tool to evaluate the impact of these measures. Nonetheless, the AEC Scorecard should be an evolving document that could be improved or revised and could be used in tandem with other instruments for evaluation purposes.
- Type
- Chapter
- Information
- ASEAN Economic Community ScorecardPerformance and Perception, pp. 20 - 27Publisher: ISEAS–Yusof Ishak InstitutePrint publication year: 2013