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This volume chronicles the experience of ASEAN Member States in pursuing trade and investment liberalization in services markets. Using a multidisciplinary and comparative regionalism lens, drawing on law, economics and global political economy, it takes stock of ASESAN achievements to date in opening services markets; identifies a number of the challenges that the regional grouping can be expected to encounter on the way to realizing the AEC Blueprint 2025 aims; and situates such efforts against the backdrop of efforts at creating a European Single Market for services.
Chapter 4 provides a detailed reading of the progress achieved to date in the negotiated opening of services markets under both AFAS and PTAs entered into (or currently being negotiated) with third parties both by ASEAN as a whole and by individual ASEAN Member States.
Chapter 2 situates the role of services and services trade in the ASEAN economic landscape, providing a range of contextual metrics with which to gauge the contribution that services and services trade make to the region’s insertion into regional and global value chains and the overall regulatory and institutional setting in which such efforts proceed. It further investigates the actual (as opposed to negotiated) degree of openness of service regimes maintained in a sample of leading AMS, using a database developed by the World Bank Group.
The member states of the Association of Southeast Asian Nations (ASEAN) set themselves the ambitious aim of establishing a region-wide economic community by 2015, and to deepen it in the context of the ASEAN Economic Community (AEC) Blueprint 2025. To achieve these goals, service sector reforms will occupy a central place in ASEAN's policy pantheon. This can be attributed to both ASEAN's integration process and its deepening ties within a dense layer of external economic partners. This book takes stock of the experience of ASEAN member states in pursuing trade and investment liberalization in services. It identifies key challenges that the regional grouping can be expected to encounter in realizing its AEC Blueprint 2025 aims. Using a law and economics lens, the book assesses where ASEAN is and is headed in services trade, situating it alongside efforts at crafting a European single market for services.
Chapter 5 analyzes the richness of the European Union’s journey on services trade and investment, drawing possible lessons for the future of ASEAN institutional design in this area. It retraces the historical origins and jurisprudence-led evolution of the internal market rules governing trade and investment in services among an expanding group of advanced nations and explores how the experience gained in building the internal market both influenced and paralleled the EU’s engagement with the rest of the world in services trade.
Chapter 3 explores whether ASEAN displays the attributes of an optimal regulatory convergence area for services, examining a number of factors likely to challenge the pursuit of an integration agenda in policy environment characterized by a continued aversion towards more institutionalized forms of normative convergence and the regional pooling of regulatory sovereignty that a sustained commitment to deep integration generally requires in the services field.
The Member States of the Association of South East Asian Nations (ASEAN) set themselves the ambitious aim of establishing a region-wide economic community by 2025. In striving to achieve this objective, this volume addressed a number of factors, internal to both ASEAN’s integration process and the region’s deepening ties with a dense layer of external economic partners, that lend support to the conclusion that service sector reforms, and trade and investment in services more particularly, will and must continue to occupy a place of choice in ASEAN collective efforts.