ASEAN Prosperity Initiative (API)

ASEAN Prosperity Initiative (API)

The Association of Southeast Asian Nations (ASEAN) was founded on August 8, 1967, by Indonesia, Malaysia, the Philippines, Singapore, and Thailand. They were subsequently joined by Brunei, Cambodia, Laos, Myanmar, and Vietnam. ASEAN activities are coordinated by the ASEAN Secretariat, which is based in Jakarta, Indonesia. We have compiled a list of infographics on the key facts surrounding this region. The caption for each infographic can be read below:

  • For almost half-century, ASEAN’s proactive and visionary regional agenda has contributed to the attainment of peace, stability, and prosperity in Southeast Asia. A major milestone in this ever-evolving agenda was reached in December 2015, when ASEAN member states formally launched the ASEAN Economic Community (AEC).
  • Air transport plays a crucial role in the overall economic prosperity of ASEAN. It is a key enabler of trade and investment that supports millions of jobs and generates billions in economic growth.
  • ASEAN has clearly stated its goal to promote skilled labour mobility and it proved with most migrant workers employed in ASEAN is originated from ASEAN.
  • The creation of the AEC 2025 Blueprint has brought several positive developments for the business sector in ASEAN. But according to the WB EODB reports, not all member states are climbing the ranks.
  • By the end of 2019, all ten ASEAN countries will join the ASW Live Operation. The ASEAN Single Window (ASW) is a regional initiative that connects and integrates National Single Window (NSW) of ASEAN Member States. The ASW’s objective is to expedite cargo clearance and promote ASEAN economic integration by enabling the electronic exchange of border trade-related documents among ASEAN Member States (AMS).
  • Thailand’s Chairmanship of ASEAN this year heavily stresses the Fourth Industrial Revolution, but where are we in terms of our readiness for 4IR? When we look at the readiness of ASEAN Member States for 4IR, we again see the same divergence in country groupings.
  • AMS has become significantly more integrated into GVCs since 2003, suggesting that the AEC has been successful in developing ASEAN as a “single production base”. However, increasing divergence between leading and laggard states highlights the differences in integration.
  • The AEC blueprint consists of five pillars, each having seen efforts and progress towards full integration of the AEC. Of those five AEC pillars, ‘Global ASEAN’ has seen the most progress; while ‘A Competitive, Innovative and Dynamic ASEAN’ lags behind the other pillars.
  • ASEAN member states have made certain progress towards the integration of the ASEAN Economic Community (AEC) Blueprint 2025. Becoming that much closer to the aim of bringing the region together. However, as this is an ongoing process, there are many areas that still needs to be addressed.
2020-06-05T12:51:49+00:00 20th November 2019|Infographics|Comments Off on ASEAN Prosperity Initiative (API)