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147 results

Page 1 of 8

  • 9 - Mind the Gap: Studying the Implementation Discrepancy for the ASEAN Economic Community

  • Edited by Gary Low
  • Book:
    Convergence and Divergence of Private Law in Asia
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 180-203

  • Summary

    The announcement of the establishment of the ASEAN Economic Community (AEC) at the end of 2015 marked a major milestone for its member states: ‘we were pleased with the achievements of the regional economic integration efforts as demonstrated by the near completion of implementation of the AEC Blueprint 2015.’ However, while the ASEAN countries were able to implement a number of the regional measures by 2015, many of them remained incomplete. One reason for this gap in implementation are conflicts of interest between countries or firms or between government agencies responsible for implementation. This chapter looks at this aspect of policy implementation provides suggestions to address some of the conflicts that are slowing down the process of implementation. It seeks to answer why the 10 ASEAN members, despite committing themselves to AEC measures, have so far fallen short of their final deliverable of an integrated market. The chapter takes a qualitative approach and uses several secondary sources to observe the progress in AEC implementation. Although the AEC is a regional polity, implementation responsibility resides with the national governments. Hence, the empirical discussion adopts the perspective of the member countries, rather than that of ASEAN itself as a regional organisation.

  • 2 - E-commerce and ASEAN Economic Integration

  • from PART I
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 7-30

  • Summary

    Introduction

    The ASEAN region is fast emerging as a growing market in the global e-commerce landscape. With a total population of 650 million, a rising middle class and a newly established economic community in 2015, the region is often considered as the next gold rush for e-commerce and internet-based operations. Despite the hype about the potential of the region, many challenges remain before e-commerce can truly flourish in each ASEAN member country. Cross-border e-commerce is challenging in the ASEAN region due to different national rules and regulations as well as quality of infrastructure. It is with these developments in mind that e-commerce has become an increasingly important area of focus in ASEAN economic cooperation.

    This chapter examines the role played by e-commerce in ASEAN economic integration by focusing on a number of issues. We begin by discussing some of the basic concepts and definitions related to e-commerce in Section 2. This will then lead to an examination of the state of e-commerce in the ASEAN region in Section 3. Section 4 discusses the framework for ASEAN cooperation in the development of e-commerce and some of the challenges that lies ahead. Section 5 concludes.

    Definition, Concepts and Framework

    Defining E-commerce

    OECD provides a comprehensive definition of e-commerce:

    An e-commerce transaction is the sale or purchase of goods or services, conducted over computer networks by methods specifically designed for the purpose of receiving or placing of orders. The goods or services are ordered by those methods, but the payment and the ultimate delivery of the goods or services do not have to be conducted online. An e-commerce transaction can be between enterprises, households, individuals, governments, and other public or private organisations. To be included are orders made over the web, extranet or electronic data interchange. The type is defined by the method of placing the order. To be excluded are orders made by telephone calls, facsimile or manually typed e-mail.

    The key emphasis in the above definition is on transactions carried out over computer networks which today mostly involve the internet. The definition also suggests that the delivery of goods and services does not have to be conducted online.

  • Logistics Development in ASEAN: Complex Challenges Ahead

  • Siew Yean Tham, Sanchita Basu Das
  • Book:
    Logistics Development in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    16 January 2018, pp 1-36

  • Summary

    INTRODUCTION

    Logistics is a key enabler for economic growth and development. It enhances efficiencies in supply chain activities and lowers transaction cost and time between producers or between producers and consumers. A seamless logistics system improves connectivity both within and across countries. It links a country's centre of business activities to the peripheries and helps to distribute the benefits of economic growth regionally.

    According to a market research report, the global logistics industry is valued at US$8.2 trillion in 2015, representing around 11 per cent of global Gross Domestic Product (GDP). This is expected to go up to US$15.5 trillion by 2023 at a compound annual growth rate of 7.5 per cent. Globally, road is the most widely used transport network due to its flexibility in operation and availability of door-to-door services. It accounted for 45 per cent of share in total worldwide logistics revenue in 2015. The Asia-Pacific countries, especially China, India, Singapore, Indonesia, Japan and Malaysia, led the global logistics market with 47 per cent of global share in 2015, though the market size of the United States, the United Kingdom, Germany and France cannot be ignored. The global

    logistics market is highly fragmented with the top four players, Deutsche Post DHL, Ceva Logistics, UPS and FedEx, accounting for less than 15 per cent of the total market.

    With globalization, the logistics industry has come to play an increasing role in each country's economic activities. Multinational corporations (MNCs) are no longer producing their goods in one single country. Instead, they are slicing their production process across several countries based on the comparative advantages of each country. Some MNCs are outsourcing business activities such as logistics and distribution to other firms (or third party), freeing them to focus more on their core business. This functional fragmentation is making the logistics sector an integral part of the overall economic activities in a country.

    However, the logistics sector suffers from the lack of a common definition across countries. The U.S. Coalition of Services Industries defines logistics services sector as “the process of planning, implementing, managing and controlling the flow and storage of goods, services and related information from the point of origin to the point of consumption.”

  • Foreword

  • Siew Yean Tham, Sanchita Basu Das
  • Book:
    Logistics Development in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    16 January 2018, pp v-vi

  • Summary

    The economic, political, strategic and cultural dynamism in Southeast Asia has gained added relevance in recent years with the spectacular rise of giant economies in East and South Asia. This has drawn greater attention to the region and to the enhanced role it now plays in international relations and global economics.

    The sustained effort made by Southeast Asian nations since 1967 towards a peaceful and gradual integration of their economies has had indubitable success, and perhaps as a consequence of this, most of these countries are undergoing deep political and social changes domestically and are constructing innovative solutions to meet new international challenges. Big Power tensions continue to be played out in the neighbourhood despite the tradition of neutrality exercised by the Association of Southeast Asian Nations (ASEAN).

    The Trends in Southeast Asia series acts as a platform for serious analyses by selected authors who are experts in their fields. It is aimed at encouraging policymakers and scholars to contemplate the diversity and dynamism of this exciting region.

Logistics Development in ASEAN
  • Complex Challenges Ahead
  • Siew Yean Tham, Sanchita Basu Das
  • Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    16 January 2018
  • Growing urbanization, increasing trade and investment due to integration, and emerging new business models like e-commerce are accelerating the demand for efficient logistics in each ASEAN country. The logistics sector is inherently complex due to its scope, ranging from physical infrastructure covering four modes of transport, customs, and services. Each of these sub-sectors is regulated by different government agencies, leading to complex challenges in each country's logistics sector. Policymaking has a tendency to be done piecemeal rather than integratively, while a more or less fragmented governance structure impedes implementation. ASEAN liberalization commitments focusses on raising the cap on foreign equity, while regulatory reform remains untouched. Also, flexibility offered in these commitments allows for non-compliance. Going forward, developing seamless logistics requires ASEAN countries to first overcome their domestic challenges. Each country needs to develop comprehensive plans, and effective implementation of these is essential. Liberalization commitments should complement domestic reforms in each country.

  • Logistics Development in ASEAN: Complex Challenges Ahead

  • Siew Yean Tham, Sanchita Basu Das
  • Book:
    Logistics Development in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    16 January 2018, pp vii-viii

  • Summary

    EXECUTIVE SUMMARY

  • • Growing urbanization, increasing trade and investment due to integration, and emerging new business models like e-commerce are accelerating the demand for efficient logistics in each ASEAN country.

  • • The logistics sector is inherently complex due to its scope, ranging from physical infrastructure covering four modes of transport, customs, and services. Each of these sub-sectors is regulated by different government agencies, leading to complex challenges in each country's logistics sector.

  • • Policymaking has a tendency to be done piecemeal rather than integratively, while a more or less fragmented governance structure impedes implementation. ASEAN liberalization commitments focusses on raising the cap on foreign equity, while regulatory reform remains untouched. Also, flexibility offered in these commitments allows for non-compliance.

  • • Going forward, developing seamless logistics requires ASEAN countries to first overcome their domestic challenges. Each country needs to develop comprehensive plans, and effective implementation of these is essential. Liberalization commitments should complement domestic reforms in each country.

  • 5 - Services Sector Liberalization in Singapore: Case of the Logistics Sector

  • Edited by Siew Yean Tham, Sanchita Basu Das
  • Book:
    Services Liberalization in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    04 July 2018
    Print publication:
    14 November 2017, pp 148-180

  • Summary

    Introduction

    Singapore's economy has been growing at a tepid pace since 2012 due to a modest performance of the US economy, uncertainties surrounding the European Union (EU), weak growth in the East Asian region, particularly with China's structural economic slowdown and, a general slowdown in global trade. During 2011–16, Singapore's real Gross Domestic Product (GDP) grew at an average rate of 3.8 per cent per annum, compared to an average of 7.3 per cent during 2002–7 (Singapore Department of Statistics 2017a). The lackluster output is matched by an unemployment rate of around 2 per cent during 2011–16 (Singapore Department of Statistics 2017b). It has been estimated that the economy will grow at a rate of 1–3 per cent in 2016 (Ministry of Trade and Industry Singapore 2017).

    It is during this time of restrained economic outlook that Singapore is also undergoing a structural adjustment. In 2010, the city-state embarked on a ten-year programme to boost its productivity growth to 2 to 3 per cent per annum, from around 1 per cent during the 2000s (Economic Strategies Committee 2010). The target was to be achieved by curbing the growth of low-skilled foreign labour supply, encouraging capital deepening and increasing automation. Programmes were put in place to help the local workforce to develop new skills according to new growth areas. While the manufacturing sector had undergone restructuring several times in past decades, it was the first time the entire economy was subject to such a process. Since then, this strive for transformation has been a challenge for domestic-oriented businesses, particularly those in the services sector, which are trying hard to lower their dependence on foreign labour and re-position themselves by investing in technology and talent (Menon 2015).

    A further policy boost came in February 2017, when Singapore released the Committee on the Future Economy (CFE) Report that laid down seven strategies to secure the city-state's economic success over the longer term.

  • Preface

  • Edited by Siew Yean Tham, Sanchita Basu Das
  • Book:
    Services Liberalization in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    04 July 2018
    Print publication:
    14 November 2017, pp xvi-xvii

  • Summary

    A frequent question raised in discussions on Free Trade Agreements (FTAs) is the impact of liberalization in services on inflows of Foreign Direct Investment (FDI). Policymakers are concerned if liberalization has encouraged FDI inflows while researchers are keen to test the same relationship. Likewise, the public is curious as to whether FTAs are as useful as touted. Yet the relationship between liberalization and inflows of FDI is not as straightforward for services as in the case of manufacturing. This is because the services sector is frequently highly regulated due to information asymmetries between producers and consumers. Domestic regulations therefore play an important role in protecting domestic consumers but these regulations can at the same time hinder the entry of both domestic and foreign service providers. While liberalization is important, it is not sufficient and any attempt at investigating the impact of liberalization on inflows of FDI has to take into consideration the FDI enabling environment in a country.

    Given this, we are motivated to undertake a study that can illuminate the academics, policymakers and businesses on liberalization issues in the services sector for the ten member countries in ASEAN. We decided to focus on FDI liberalization in services as commercial presence is considered as the most important mode of trade in services. Given the heterogeneity of the services sector, we chose to focus on the logistics industry as a case study as the industry plays a key role in the movement of goods, services and people across ASEAN.

    The main objective of this book is, thus, to compare international and domestic policy measures for attracting FDI and its impact on inflows of FDI in the services sector in the ten ASEAN member countries. This has implications for ASEAN's economic cooperation, in general, and for the logistics sector integration, in particular.

  • 1 - Introduction

  • Edited by Siew Yean Tham, Sanchita Basu Das
  • Book:
    Services Liberalization in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    04 July 2018
    Print publication:
    14 November 2017, pp 1-41

  • Summary

    Introduction

    In the last two decades, the services sector has gained increasing importance in terms of its contribution to a country's Gross Domestic Product (GDP) and employment. Its share in total GDP for the Organisation for Economic Co-operation and Development (OECD) countries has grown from 70 per cent in mid-1990s to 75 per cent more recently, while its share for the countries in East Asia and Pacific has moved up from 37 per cent to 48 per cent over the same period. It further accounts for about 70 and 47 per cent respectively of total employment in the OECD countries and East Asia and Pacific region respectively (World Bank 2016).

    The increasing importance of the services sector is driven by production fragmentation or outsourcing activities. While production fragmentation entails goods to be produced in multiple countries, outsourcing happens when multinational corporations (MNCs) focus on functions that they have comparative advantage while other functions are subcontracted to other firms. The resulting spatial or functional fragmentation is connected through service links such as transportation, ICT, distribution services, financial intermediation services and others (Jones and Kierzkowski 2005). Consequently, the competitiveness of manufacturing firms in an increasingly globalized world is determined to a large extent by the cost effectiveness and reliability of these service links.

    In turn, the changing nature of manufacturing production has led to an increasing importance of trade in services as opposed to the earlier significance of trade in goods (Grossman and Rossi-Hansberg 2008). Trade in services now accounts for more than a fifth of global trade volumes (Saez et al. 2015). For the past two decades, trade in services has grown faster than merchandise trade, reaching over US$9 trillion for the first time in 2013 and constituting 11.9 per cent of the world GDP (UNESCAP 2015). It has also increased in recent years vis-àvis trade in goods as the latter has been affected by the slowdown in growth in the developed world after the global financial crisis while economic recovery is retarded by the crash in commodity and oil prices in 2015.

Services Liberalization in ASEAN
  • Foreign Direct Investment in Logistics
  • Edited by Siew Yean Tham, Sanchita Basu Das
  • Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    04 July 2018
    Print publication:
    14 November 2017
  • The services sector plays an important role in ASEAN economies as it accounts for about half of the region's GDP and more than 45 per cent of its total employment. ASEAN aspires to deepen integration in the services sector in order to enhance the sector's contribution to economic development and growth in each country. Despite this, services liberalization has progressed slowly compared to goods liberalization both at the multilateral and the regional levels. Different regulatory mechanisms across countries have contributed to the slow pace of liberalization. Logistics is an important industry in the services sector. The integration of logistics is important for deepening economic integration in ASEAN as it facilitates the movement of goods, services and people within and across countries, among producers and from producers to consumers. In view of its importance, ASEAN has identified logistics as one of its priority integration sectors. It has also developed a Connectivity Master Plan and a Strategic Transport Plan, where logistics plays an important role. This book examines the current state of services liberalization in the ten ASEAN economies. It also assesses the FDI enabling environment and the extent of FDI liberalization in the logistics sector as well as the liberalization challenges encountered in each of the ASEAN economies. The book, thus, provides a comparative picture of services liberalization as well as the state of logistics liberalization and development in each of the ten ASEAN member countries. All these have important bearings on deepening ASEAN economic integration for 2025 and beyond.

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