CHAPTER 1 - Introduction

ASEAN, a bloc of 10 nations with an aggregate economic size of USD 2.3 trillion, is
preparing to go through profound changes. Already today, ASEAN is the 3rd pillar of
growth in Asia in addition to China and India, with average GDP growth over the past
15 years at around 6% p.a.
The regions prospects will be much enhanced by an ambitious integration effort
which seeks to achieve a single market and production base, including higher mobility
of labour and capital within the region, and promote closer linkages with other key
economies such as China, Japan, South Korea, India, Australia and New Zealand.
Exciting projects to increase and improve connectivity in trans-port, communication
and IT networks are in the making. Financial flows within the region are set to
increase, and initiatives such as a pan-ASEAN stock exchange collaboration are
taking place already.
The ASEAN Economic Communitys envisaged launch at the end of 2015 will not
only is an integration milestone but a potential game changer for ASEAN. The blocs
diversity ranging from advanced economies like Singapore to developing countries
like Myanmar could be a source of synergies, bringing the capital and know-how of
the more mature economies together with the competitive costs and abundant labour
and resources of the less-developed member countries. To be sure, there will be
winners and losers in the process, but overall, we expect AEC to bring about a net
positive contribution to ASEANs economies and its people.
ASEAN (Association of Southeast Asian Nations), established in 1967, is a large
economic bloc in Asia. Comprising 10 countries Brunei Darussalam, Cambodia,
Indonesia, Lao Peoples Democratic Republic, Malaysia, Myanmar, Philippines,
Singapore, Thailand and Vietnam , the region boasts a population of over 600
million (chart 1), roughly half that of Chinas or Indias and around 9% of the worlds
total. ASEANs economic weight is also substantial, with a GDP of USD 2.3 trillion
in 2012 around 30% the size of Chinas, roughly the same size as that of the UK and
25% larger than Indias. Its GDP accounts for 3% of the worlds total1.

ASEAN is a middle-income region. Nominal per-capita GDP of the five ASEAN

founding members (or ASEAN-5: Indonesia, Malaysia, Philippines, Singapore and
Thailand) was USD 4,500 in 2011, slightly lower than Chinas USD 5,400. Taking
into account the 10 members, ASEANs GDP per capita was USD 3,600. Income
levels among ASEAN member countries are hugely diverse. Countries such as
Singapore and Brunei enjoy a very high GDP per capita at around USD 49,000 and
USD 39,000, respectively, on par with the top tier of developed-market economies. In
contrast, Myanmar and Cambodia have a GDP per capita of just below USD 900.
ASEAN growth was very robust over the past two decades, except around the time of
the Asian financial crisis in 1997-98 and the global financial crisis in 2008-09. For the
next few years we expect ASEANs annual real GDP growth to reach around 6%
(chart 2).

ASEAN: A region in need of investment

During the 1990s, the investment/GDP ratio was 30%-40% in the ASEAN-5
countries, except in the Philippines. Investment exceeded domestic savings, as
manifested in substantial current-account deficits, funded to a large extent by hot
money. This changed abruptly after the 1997 financial crisis (chart 3). Currentaccount balances turned to surplus mostly at the expense of domestic investment,
which dropped to 20%-30% of GDP.

In comparison, China and India were much less affected by the Asian financial crisis,
and their domestic investment activity remained strong. In the case of China, a vast
pool of domestic savings and huge FDI inflows has funded investment. India, by
contrast, does not have sufficient domestic savings to fund its investment needs, but it
managed to increase FDI inflows almost eightfold from 2003-2011.
Having adjusted its external balances and become an excess savings region,
ASEAN now needs to increase domestic investment in order to lift its potential rate of
growth. Among other things, ASEAN countries would benefit from savings being
channeled to intra-regional investment. To be sure, this is already happening: intraASEAN FDI rose from 14% of total FDI during 2002-09 to 18.5% in 2009-11 (chart
4), overtaking the EUs share of 17%. With the EU still beset by the Eurozone debt
crisis, the role of intra-ASEAN FDI flows is even more significant. The share of other
traditional sources of FDI to ASEAN such as Japan (12%) and the US (10%) also saw
a decline during 2009-2011.

A case for further facilitating investment flows

Investment liberalisation and the promotion of intra-regional flows also serve to
enhance the regions attractiveness to global investors. For example in the case of the
EU, the formation of the Single Market led to the gradual increase in its share of
global FDI inflows from 34% during 1980-1992 to 41% during 1993-20072. In
ASEAN, early investment liberalisation measures were effective but they need to be
supplemented with new measures to maintain the regions attractiveness. The 1992
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ASEAN Investment Agreement (AIA) and ASEAN Investment Guarantee Agreement

(IGA) were effective in increasing global inflows into ASEAN until the Asian
financial crisis. Its share of global FDI inflows rose to around 7% during 1992-1997
from 5% during 1980-1991. It then saw a slide to 4% during 1998-2009, which,
among other factors, might suggest a lack of improvement in the region's investment
framework. In 2009, a new and enhanced ASEAN Comprehensive Investment
Agreement (ACIA) replaced the previous AIA and IGA frameworks. Industries
including manufacturing, agriculture, fishery, forestry & mining and quarrying are
now required to grant national treatment to foreign investors. Following the revamped
agreements, the region saw a jump in its share of global FDI inflows to around 7.58% in 2010-11.

Intra-regional trade boosted by the most open ASEAN countries

ASEAN is a substantial trading bloc with a merchandise trade value of USD 2.4
trillion (as of 2011), 25% of which is intra-regional trade. Intra-ASEAN exports
amounted to USD 328 bn in 2011, 26% of total exports. Intra-ASEAN imports
totalled USD 271 bn, or 24% of total imports.
ASEANs trade openness is high, at 110% of GDP. Among its members, Singapore
has the by far highest trade-to-GDP ratio, at close to 300% of GDP. Malaysia and
Thailand have trade-to-GDP ratios way above 100% (chart 5). All three countries are
tightly integrated into regional and global manufacturing supply chains. Moreover,
they have high standards in trade logistics: the World Banks Logistics Performance

Index (LPI) places Singapore, Malaysia and Thailand at the top of ASEAN (chart 6).
It is thus not by co-incidence that these countries have been the most active
contributors to intra-regional trade3. Vietnam, Cambodia, Brunei and Laos have seen
their trade-to-GDP ratios rise strongly in recent years to around 100% of GDP,
indicating an increasing openness, but the contribution to intra-regional trade remains
small. Indonesia, Philippines and Myanmar still have a relatively low trade-to-GDP
ratio of below 100%, suggesting plenty of headroom to increase openness.

China has become ASEANs main trading partner

Integration efforts and global developments have shifted the pattern of ASEAN
countries international trade. The share of the blocs trade with the US, the EU and
Japan has declined markedly over the past two decades or so. In 2011, ASEAN trade
with the US accounted for 8.5% of the total (vs. 18% in 1993), with the EU-27 for
10.6% (15% in 1993), and with Japan for 10.3% (20% in 1993) (chart 7). China has
emerged as the No. 1 trading partner for ASEAN, with its share rising to 12% in 2011
vs. just 2% in 1993. The rise in ASEAN-China trade provides evidence of the role of
China in the Asian supply-chain networks. In 2011, 11% of ASEANs exports went to
China and 13% of ASEAN imports came from China. ASEAN consistently ran a trade
surplus with the US and EU but a trade deficit with China, suggesting a supply-chain
pattern in which ASEAN imports parts from China and exports the final product to the
US and the EU.

Trade patterns reflect product specialisation and rising domestic consumption in

ASEAN countries
The majority of the regions trade reflects the specialisation in electronics, heavy
machinery, vehicles and parts, chemicals, plastics and processed raw materials such as
oil and rubber (chart 9). ASEAN exports to China include commodities such as
rubber, oil, coal and palm oil in addition to electronic integrated circuits (ICs).
Exports to the US and EU are dominated by electronics and machinery and natural
rubber. The trade pattern reflects of the significance the US and the EU as final
consumers of electronic products and Chinas important role as a commodities import
market.

Intra-ASEAN trade has seen an uptrend in trade of final consumer goods, which is an
encouraging sign of the growing importance of domestic consumption within
ASEAN. According to the IMF, the increasing role of intraregional trade in final
consumption goods, together with a large domestic market, especially in Indonesia,
appears to provide the region with a potential source of resilience against global
demand shocks

1.2 What is the ASEAN Economic Community?

ASEAN Economic Community (AEC) is the end-goal of the blocs economic
integration5 as espoused in its Vision 2020. The latter was articulated in 1997 by
the ASEAN heads of state, in the aftermath of the eruption of the Asian financial
crisis, seeking to create a stable, prosperous and highly competitive economic region.
The decision to establish the ASEAN Economic Community was affirmed by the
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Declaration of ASEAN Concord II in Bali, Indonesia, in 2003. The Declaration came

not long after China joined the WTO and India emerged as an investment and offshore
location for multinational corporations. The rise of the emerging markets, in particular
the BRIC, appears to have given ASEAN leaders the impetus to do something to keep
the region under investors radar.
The launch of AEC is currently planned for the end of 2015. The start date was
initially set for 2020 and subsequently moved forward to January 1, 2015. In
November 2012, ASEAN leaders agreed to move the launch date again to December
31, 2015 in order to give member states more time to prepare for necessary regulatory
changes.
AEC Blueprints vision and goals
AEC was further boosted by the adoption of the AEC Blueprint in Singapore in 2007.
The Blueprint stipulates the vision, goals and strategic schedule, envisaging four key
characteristics for the Economic Community:
1) A single market and production base. In short, barriers to trade in goods and
services will be brought down or kept to a minimum. Flows of investment, capital and
skilled labour will be facilitated and co-operation in sectors designated as priority
integration sectors will be promoted.
Free flow of goods
Free flow of services
Free flow of investment
Freer flow of capital
Free flow of skilled labour
Priority integration sectors
Food, agriculture and forestry
2) A competitive economic region. To promote ASEAN as a competitive economic
bloc, it is important to have a regional standard in trade policy and for the businessoperating environment. This pillar seeks to address the following areas to enhance the
regions competitiveness to investors:

 Competition policy
Consumer protection
Intellectual property rights
Infrastructure development
Taxation
E-commerce
3) Equitable economic development. ASEAN member states will strive to level the
playing field as much as possible. In this regard, two areas will be under focus:
SME development
Initiative for ASEAN integration (IAI). Its objectives are to narrow the
development gap between members and to accelerate economic integration of the
newer members, namely Cambodia, Lao PDR, Myanmar and Vietnam (CLMV)
4) Integration into the global economy. ASEAN strives to integrate itself better as a
bloc into the global supply chain. For this purpose, two main lines of action are
pursued:
Coherent approach regarding external economic relations
Enhanced participation in global supply networks
AEC organisation and main agreements
ASEAN progress thus far has been driven by consensus based on the agreements by
the Heads of State and subsequent action plans. No special organisation has been set
up to support the establishment of the AEC. The ASEAN Economic Ministers (AEM)
group is accountable for the overall implementation of the Blueprint. Relevant
ASEAN sectoral bodies are responsible for the implementation of programmes and
measures. At the national level, government agencies are responsible for overseeing
implementation and preparing more detailed action plans. Partnerships with the
private sector, industry associations and the community in general are urged to ensure
participation of all stakeholders. The Secretary-General of ASEAN6 is responsible for
reporting the progress of AEC to ASEAN ministerial meetings and the ASEAN
Summit.

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To date there have been numerous agreements in the run-up to the AEC. Among the
key agreements are:
a) Master Plan on ASEAN Connectivity (chart 11): The plan strives to make
production and distribution networks in ASEAN deeper, wider, and more entrenched
in the East Asian and global economy. It provides a 3-pronged strategy:
Physical connectivity through enhanced physical infrastructure development;
Institutional connectivity through effective institutions, mechanisms and processes;
People-to-people connectivity by providing education, promoting tourism, etc.

Examples of projects to enhance ASEAN connectivity include the ASEAN Highway

Network and high-speed railways between Malaysia and Singapore. The ASEAN
Infrastructure Fund was established with the Asian Development Bank to fund

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physical infrastructure projects in ASEAN.

b) ASEAN Trade in Goods Agreement (ATIGA): Its key objective is to achieve a
free flow of goods in ASEAN as a means to establish a single market and production
base. ATIGA seeks to eliminate non-tariff barriers and implement the cross-border
ASEAN Trade Facilitation Work Program (ATFWP). The ATFWP in turn seeks to
simplify the rules of origin, harmonise product standards and regulations and carry
out customs integration. The ASEAN Single Window (ASW) is intended to streamline
and synchronise the processing of data and information, creating a single decisionmaking point for customs release and clearance. Successful implementation of
ATFWP will reduce transaction costs and time, accelerating the movement of goods
within ASEAN and facilitating access to raw materials, labour and technology from
various parts of the region.
There are numerous agreements with regard to other areas of cooperation such as
investment, capital markets, aviation, etc. Implementation of the agreements is done
by consensus; there is no enforcement of penalty for non-compliance.
Progress report: How far has AEC advanced?
The Economic Research Institute conducted a Mid-Term Review of the
implementation of the AEC Blueprint for ASEAN and East Asia (ERIA). The MidTerm Reviews Executive Summary was published in October 20127 (chart 12)
Progress with the implementation of AEC measures is noted in the following areas:
Lowering of goods tariffs. This is a continuation of the ASEAN Free Trade Area
(AFTA) Agreement introduced in 1992, which had sought to achieve Common
Effective Preferential Tariffs (CEPT), gradually reducing and eliminating tariffs to 05% for each member country. CEPT rates are virtually zero in ASEAN-5 and Brunei.
For Cambodia, Laos, Myanmar and Vietnam the CEPT average rate was 2.6% in
2010.
Trade facilitation. The ASEAN-5 countries have achieved live implementation of
the National Single Windows8, although a full rollout is still pending. Brunei and
Vietnam are in an advanced stage toward live implementation by 2015.

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Investment liberalisation (goods sector). Commitments in the goods sector under the
ASEAN Comprehensive Investment Agreement (ACIA) are already liberal in most
ASEAN member countries, according to the bench-mark of 70% permissible foreign
ownership.

Free Trade Agreements - Five ASEAN+1 FTAs were signed, with China, Japan,
Korea, India and Australia/New Zealand. Negotiations are ongoing for services and
investment agreements with Japan and India.

Air transport. A number of air transport agreements have been signed under the
ASEAN-X formula. The ASEAN-X formula gives the flexibility for ASEAN member
states to sign agreements with one another without having to include members which
are not yet ready. The success of the air transport agreements gives rise to hopes that
the ASEAN-X formula could be replicated to forge forward other parts of the regional
agenda.
Monetary cooperation.
The signing and implementation of the Chiangmai initiative is a notable development.
Signatory countries agree to pool their foreign-exchange resources to provide liquidity
to member countries in times of emergency through bilateral swap arrangements. The
Chiangmai Initiative is but one example of institutional mechanisms and
arrangements at the ASEAN+3 level that increase the regions ability to respond to
crisis.
The establishment of the ASEAN+3 Macroeconomic Research Office also enhances
the regions surveillance and co-ordination efforts.
Free flow of skilled labour. Mutual Recognition Arrangements (MRAs) for skilled
professionals will cover 7 professions: doctor of medicine, dentist, nurse, engineer,
architect, accountant and surveyor. The aim is for professional qualifications in these
fields to be recognised in other ASEAN member states, facilitating flows of skilled
labour within ASEAN. According to the Mid-Term Review findings, MRAs on

13

engineers and architects are underway to full implementation, with regional and
national systems in place. A few ASEAN countries already made recommendations
for regional accreditation.
Capital markets. The ASEAN Exchange, a collaboration of the seven stock
exchanges of ASEAN9, kicked off in September 2012 with the live roll-out of the
ASEAN Trading Link, connecting Bursa Malaysia and the Singapore Exchange. The
Stock Exchange of Thailand joined in October 2012. The system currently uses an
electronic order routing system that allows brokers from the three exchanges to
connect their clients to trading on the exchanges of the other countries. The potential
for ASEAN capital market collaboration is huge. In 2010, aggregate gross domestic
savings of ASEAN nations amounted to USD 616 billion, with the largest
contributions coming from Indonesia, Singapore and Thailand. To facilitate the
mobility of savings across national borders, the AEC has put in place standardised
offering and distribution rules and disclosure requirements, as well as an enhanced
withholding tax structure to attract cross-border investors in debt paper, with a view to
lowering transaction costs and exploiting economies of scale.
ASEAN has established a monitoring mechanism called the AEC Scorecard to ensure
timely implementation of the AEC initiatives. The AEC Scorecard reports progress
with implementing the various AEC measures. According to the latest AEC Scorecard
published in March 2012, the overall score is 68.2 (out of 100) (chart 13). Among the
four pillars, Pillar IV, Integration into Global Economy, has made the most progress,
scoring 85.7. Pillar I, Single Market and Production Base, has the lowest score of
66.5. The score appears to suggest that challenges with regard to non-trade barriers
remain considerable and have yet to be tackled to create a smooth-functioning single
market and production base.
AEC final lap: Remaining tasks
It is now less than three years before the expected AEC launch at end-2015. A lot of
work remains to be done to achieve a credible and meaningful start. Progress in the
following areas would be especially helpful:
Non-trade barriers (NTBs) and non-tariff measures (NTMs). Non-tariff barriers
and non-tariff measures such as safety and health regulations or technical barriers

14

remain obstacles to the free flow of trade in both goods and services. One
recommendation put forward in the mid-term review is to address the non-trade
barriers and non-tariff measures systematically through the set-up of a comprehensive
database of NTMs in ASEAN. The database could then be the starting point for
member countries to negotiate and reduce NTBs and NTMs in an efficient and
systematic manner.
Trade and investment facilitation. Although several countries have started
implementing National Single Windows (NSW), customs and logistical integration
still has some way to go. A wide gap still exists in terms of the number of days needed
to carry out exports and imports, with the highest number registered in Laos (45 days)
and the lowest in Singapore (3 days), according to World Bank data on trading across
borders. For example, it would be beneficial if ASEAN countries agreed and accepted
standardised business processes and harmonised data for electronic exchange under an
ASEAN Single Window (see page 8). As for investment facilitation, further process
streamlining and more inter-agency co-operation within each country and among
member states have been recommended.
SME development. The corporate sector in many ASEAN economies is dominated
by large government-linked companies or multinational corporations (MNCs). The
potential of small and medium-sized enterprises is underutilised, often due to a lack of
investment and technical know-how. Helping SMEs in terms of trade and investment
facilitation and technological development would make the AECs impact on member
countries more far-reaching.
Public-private sector partnership. Thus far, the public impression of AEC is that it
is driven by the government sector, which needs to be corrected. While the AEC
concept was drawn up by the countries leaders and the government has a key role in
providing a conducive legal and business environment, AEC success depends
crucially on private-sector involvement and public support. In this regard, greater
efforts should be made to raise awareness of AEC among the business community to
bring it on board. There should be regular public-private consultation forums for
brainstorming and strategy sessions.

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CHAPTER 2 - CHALLENGES
2008 marked the 40th anniversary of the founding of the Association of Southeast
Asian Nations (ASEAN). While starting as a loose coalition of developing countries,
ASEAN is now recognized as an increasingly capable regional and international
player. ASEAN countries, however, face a number of internal and external
challenges, including social instability and regional economic and military
imbalances.
The ASEAN Charter, which became legally binding at the end of 2008, seeked to
build a more effective mechanism for cooperation and coordination among Southeast
Asian countries to address the pressures of globalization and the build-up of larger,
non-ASEAN neighbors.
Carnegie Beijing sponsored and co-hosted a policy debate with the Institute of AsiaPacific Studies, Chinese Academy of Social Sciences (CASS) and the Center for
Regional Security Studies (CRSS) to address the current internal and external
challenges ASEAN countries face and the Charters implications for alleviating some
of these problems and improving regional relations.
Participants included Han Feng, Deputy Director of the Institute of Asia-Pacific
Affairs and the Center for Regional Security Studies; Cheng Ji from the Ministry of
Foreign Affairs; Yuan Bo from the Research Center of International Trade and
Commercial Cooperation under the Ministry of Commerce; Zhang Xuegang from the
China Modern International Relations Research Institute; Shen Shishun from the
China Institute of International Studies; Liu Lin from the Academy of Military
Sciences; Li Huimin of the China Friendship Association; and Xiong Wei from the
Institute of Foreign Affairs.
Internal ChallengesOne of the most serious obstacles to ASEAN integration is
unresolved territorial disputes between member countries. Forum participants
doubted that these disputes will be addressed comprehensively given the historical
reluctance of ASEAN countries to discuss matters they describe as internal affairs.
ASEANs consensus approach to decision-making, whereby a country can prevent

16

the passage of a proposal if it disagrees with it, is highly inefficient when trying to
reform the organization. This difficulty is compounded by the political instability and
social upheaval within many of the member countries that rode the third wave of
democratization.
External ChallengesParticipants identified three external challenges facing ASEAN:
globalization, regional imbalances, and a lack of engagement mechanisms. Many
speakers contended that ASEANs development necessarily carries with it the
drawbacks of globalization. For instance, rapid regional development has led to fierce
competition between ASEAN countries. Others urged ASEAN countries already
involved in international banking and foreign investment to strengthen their financial
capabilities to avoid meeting the same fate as East Asian countries that were
embroiled in the Asian financial crisis of the late 1990s. ASEAN countries are also
worried that Western values have eroded support for their own values.
The second point of insecurity for ASEAN is its neighbors. The rise of large
neighboring countries coupled with increased investment in their militaries and
economies has made ASEAN countries extremely nervous.

In recent years,

American, Japanese, Chinese, and Australian interest in Southeast Asias affairs has
also risen, making them worry that they may be marginalized.
The third challenge is ASEANs ability to cooperate and coordinate regionally and
internationally. While many participants described ASEAN as a passive global player
one that is often an observer rather than an actor in its interactions with the world
they also acknowledge that its engagement capabilities are limited. ASEAN-initiated
forums and summits are ineffective mechanisms for decision-making because they
usually do not include global powers.
Southeast Asia is among the important pillars in Asias economic integration whereby
ASEAN is expected to gain solid economic integration from trade and investment.
This would mean that ASEAN must have significant and positive relations in her intra
regional trade and intra regional investments. Yet a previous study finds them to be
significant nevertheless having negative relations (Verico, 2012). Given its long-run
economic integration objective, ASEAN must turn this relation into one that is

17

significant and positive. This will require an economic convergence by which an

equivalent level of playing field within its member states.
Economic convergence is a necessary condition for a solid regional economic
integration.
It will move ASEANs economic integration stage from an intra regional trade to that
of an intra regional investment. However, ASEAN still faces huge economic gaps
between its ASEAN-6 and ASEAN-4 as well as within the groups themselves. This
economic divergence becomes a major source of asymmetric information in the
ASEAN economy.
Among one of the useful tools to prove this divergence is the gravity model of trade
(Tinbergen, 1962, Anderson, 1979, Helpman and Krugman, 1985). The model, which
was inspired by Newtons Law of gravity, describes that among the significant factors
in economic integration process are economic size (GDP) and economic level (GNI
per capita). Utilizing this model, in terms of economic size, ASEAN must deal with
economic biases towards Indonesias economy as her nominal GDP is at around 40%
of total ASEANs nominal GDP, making it too dominant.
In 2011, Indonesias nominal economic size (GDP) is around US$ 847 billion, much
larger than Thailand at US$ 346 billion, Malaysia at US$ 288 billion, and Singapore
at US$ 240 billion. Indonesias nominal GDP size is ranked 16in the world, making
her the only ASEAN member in the G20 group.
On the other hand, in terms of economic level, ASEANs economic gravity direction
is biased towards Singapores economy.
According to the World Banks atlas method (Gross National Income/GNI per capita
per year), the circumstance shows the opposite of the preceding figures. Using 2011
data, among those four countries, the highest income per capita belongs to the lowest
economic sized country, which is Singapore. Singapores GNI per capita per year is
US$ 42,930 that is much higher than Malaysia at US$ 8,770, Thailand at US$ 4,440,
while the lowest level among these countries is the highest economic sized country,
which is Indonesia at US$ 2,940.

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These two figures show that within its member states, ASEAN has a large economic
sized country Indonesia- that has a low economic level and also has a high
economic level country Singapore yet is a low economic size. Hence ASEANs
economic power seems to resemble a donut, lacking a country that has the
characteristics of having both a large economic size and high economic level. This is
in contrast to the EUs experience with Germany, a high income country that also has
a large economic size of GDP, population and geographic proportions. This donutshape is a major challenge for ASEAN in obtaining a solid intra-regional trade and
investment.
2.2 What does ASEAN need to do to overcome this economic integration
disadvantage?
From the market-driven strategy, ASEAN will gain her economic integration
advantage when her largest economic-size member attains high-income level. This
would mean when Indonesia becomes a developed country. Among the references for
this projection is Vision 2030, where Indonesia is predicted to become a developed
country in year 2030 with an income per capita per year above US$ 18,000.
Given this circumstance, furthermore, using the EUs experience, if the ASEAN
Economic Community (AEC) of 2015 is similar to the European Economic
Community (EEC) of 1967 then ASEAN is forecasted to complete her comprehensive
economic integration in year 2050. The latter is under the assumption that ASEAN
will follow EUs time-frame which took around 35 years to move from EEC of 1967
to Euro as a single currency in 2002.
As from the government intervention strategy, ASEAN could utilize her wide
regionalism strategy to increase its intra regional investment. Different from the
Custom Union (CU) in Europe, ASEAN adopts an open and soft regionalism
principle. In its open regionalism principle, ASEAN implements the Free Trade Area
(FTA) at which the regional economic institution does not regulate external tariff
between member state and non-member state enabling each member state to have
direct bilateral trade agreements with non-member states. This gives benefits to nonmember states as they can still have a free trade relation with the member states of
ASEAN without being a member themselves.
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In its soft regionalism principle, ASEAN implements a non-legal binding principle

without a supranational body. Both theopen and soft regionalism principles makes
ASEAN-wide frameworks such as the ASEAN+1, ASEAN+3 and so on, appropriate
for ASEAN.
In the short-run, the ASEAN Plus frameworks will solve ASEANs major problem in
not having a member state with both large economic size and high income level.
Intra regional investment is estimated to come from the new-member states of such
regional-wide frameworks.
At last, the relation between market-driven and government-led strategy is
complementary therefore ASEAN must combine them in order to achieve her
comprehensive regional economic integration objective.

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CHAPTER 3 - The ASEAN Charter

The ASEAN Charter defines it as a legal entity and inter-governmental organization
that has authority over its members. Underlying the move towards unity and
integration is its new motto: one vision, one identity, one community.
The Charter improves ASEANs system of decision-making and enforcement. In the
past, the absence of such authority led to instability and a lack of cohesiveness and
efficiency. Decision-making and implementing bodies are currently split into three
defined groups: the ASEAN summit, the ASEAN Coordinating Council, and the
ASEAN Community Council.
The Charter strengthens the authority of the ASEAN Summit as the highest decisionmaking body. If it discovers a member country that is not implementing ASEAN
proposals or decisions, or discovers a serious breach of the charter or ASEANs basic
principles, the Summit is empowered to issue a resolution on the matter. The Summit
will also receive an annual report from the secretary-general as well as three separate
reports and suggestions from the Community Council.
Implications for Regional PoliticsThe forum predicted that ASEAN integration will
strengthen it as a regional player and perhaps offset the dominance of greater powers
in the area. Integration will undoubtedly affect regional cooperative efforts in the
Asia-Pacific; ASEAN can serve as a model for other East Asian partnerships.
Many participants saw integration as a means of enhancing the internal stability of
member countries, thereby providing a foundation for future regional partnerships.
Others raised the possibility that a stronger ASEAN identity may weaken its
willingness to participate in East Asia-led cooperative efforts.

21

ASEAN: Another EU? A central debate during the conference focused on whether a
meaningful comparison could be made between ASEAN and the European Union
(EU), especially now that ASEAN has assumed legal status.
The aims of both bodies are quite similar: economic prosperity and the preservation of
competitiveness in a globalizing world, regional security, and stronger influence vis-vis powerful neighbors. ASEAN seeks to mirror the EUs economic integration.
Furthermore, its three decision-making and implementing bodies mimic the EUs setup.
However, the respective forms of integration within the EU and ASEAN are
fundamentally different. The EU is a supranational model of cooperation. Member
countries share in decision-making that transcends national boundaries. ASEAN, on
the other hand, is strongly committed to an intergovernmental approach in which
integration allows states to cooperate in specific fields while retaining their
sovereignty. This unwillingness to cede power for joint cooperative efforts hinders
economic initiatives. This lack of unity can be seen in member states that, frustrated
by slow progress on trade negotiations, broke rank to sign bilateral trade agreements.
It reveals a gap in intra-ASEAN expectations: some members want collective
negotiation and others want faster progress. It is unclear whether the Charter will
allow for nimbler negotiations or resolve these issues at all.

3.2 STRUCTURE AND PURPOSE of ASEAN

ASEAN is a regional organization established on 08 August 1967. On its 30 th
anniversary, ASEAN leaders agreed on a shared vision of ASEAN as a concert of
Southeast Asian nations, outward looking, living in peace, stability and prosperity,
bonded together in partnership in dynamic development and in a community of caring
societies. At the 9th ASEAN Summit in 2003, the ASEAN Leaders resolved to
establish an ASEAN Community. On the 12th ASEAN Summit in January 2007,
the Leaders affirmed their strong commitment, to accelerate the establishment of an
ASEAN Community by 2015 and signed the Cebu Declaration on the Acceleration of
the Establishment of an ASEAN Community by 2015.

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Article 2 of the ASEAN Charter sets the PURPOSES of the organisation as follows:
1. To maintain and enhance peace, security and stability and further strengthen peaceoriented values in the region;
2. To enhance reional resilience by promoting greater political, security, economic and
socio-cultural cooperation;
3. To preserve Southeast Asia as a Nuclear Weapon Free Zone and free of all other
weapons of mass destruction;
4. To ensure that the peoples and Member States of ASEAN live in peace with the
world at large in a just, democratic and harmonious environment;
5. To create a single market and production base a which is stable, prosperous, highly
competitive and economically integrated with effective facilitation for trade and
investment in which there is free flow of goods, services and investment; facilitate
movement of business persons, professionals, talents and labour; and free flow of
capital;
6. To alleviate poverty and narrow the development gap within ASEAN through
mutual assistance and cooperation;
7. To strengthen democracy, enhance good governance and the rule of law, and to
promote and protect human rights and fundamental free-doms, with due regard to the
rights and responsibilities of the Member States of ASEAN;
8. To respond effectively, in accordance with the principle of comprehensive security,
to all forms of threats, transnational crimes and trans-boundary challenges;
9. To promote sustainable development so as to ensure the protection of the regions
environment, the sustainability of its natural resources, the preservation of its cultural
heritage and the high quality of life of its peoples;
10. To develop human resources through closer cooperation in education and life-long
learning, and in science and technology, for the empowerment of the peoples of
ASEAN and for the strengthening of the ASEAN Community;
11. To enhance the well-being and livelihood of the peoples of ASEAN by providing
them with equitable access to opportunity for human development, social welfare and
justice;
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12. To strengthen cooperation in building a safe, secure and drug-free environment for
the peoples of ASEAN;
13. To promote a people-oriented ASEAN in which all sectors of society are
encouraged to participate in, and benefit from, the process of ASEAN integration and
community building;
14. To promote and ASEAN identity through the fostering of greater awareness of the
diverse culture and heritage of the region;
15. To maintain the centrality and proactive role of ASEAN as the primary driving
force in its relations and cooperation with its external partners in a regional
architecture that is open, transparent and inclusive.

B. Structure
As the legal and institutional framework, the ASEAN Charter also describes the
structure of time organisation, setting forth the mandate and function of various
ASEANs organs. The charter provisions on the organs provide a general guide on
how to engage ASEAN. Those organs, and their mandate and functions are:
1. ASEAN Summit
ASEAN summit is the supreme policy-making body of ASEAN. This organ
deliberates, provides policy guidance and takes decisions on key issues pertaining to
the realisation of the objectives of ASEAN, important matters of interest to Member
States and all issues referred to it by the ASEAN Coordinating Council, the ASEAN
Community Councils and ASEAN Sectorial Ministerial Bodies.
In addition to the above description, The ASEAN Summit also :
(a.) Instruct the relevant Ministers in each of the Councils concerned to hold ad hoc
interministerial meetings and address important issues
Concerning ASEAN that cut across the Community Councils;
(b.) Authorise the establishment and the dissolution of Sectoral Ministerial
Bodies and other ASEAN institutions;
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(c.) Appoint the Secretary-General of ASEAN; and

(d.) Address emergency situations affecting ASEAN by taking appropriate actions.
2. ASEAN Coordinating Council
ASEAN Coordinating Council is an organ that is composed of the ASEAN
Foreign Ministers. This organ will prepare the meetings of the ASEAN Summit,
coordinate with the ASEAN Community Councils to enhance policy coherence,
efficiency and cooperation among them, coordinate the reports of the ASEAN
Community Councils to the ASEAN Summit, consider the report of the Secretary
General on the functions and operations of the ASEAN Secretariat and other relevant
bodies, to approve the appointment and termination of the Deputy Secretaries General
upon the recommendation of the Secretary General, and last but not least undertake
tasks provided for in the ASEAN Charter or such other functions as may be assigned
by the ASEAN Summit.
3. ASEAN Community Councils
ASEAN Community Council is comprised of the ASEAN Political-Security
Community Council, ASEAN Economic Community Council, and ASEAN SocioCultural Community Council. In each ASEAN Community Council meeting, each
Member State of ASEAN designates its national representation.
According to Article 9 of the ASEAN Charter, this organ should ensure the
implementation of the relevant decisions of the ASEAN Summit, coordinate the work
of the different sectors under its purview, and on issues, which cut across the other
Community Councils, and last but not least submit reports and recommendations to
the ASEAN Summit on matters under its purview.
4. ASEAN Sectoral Ministerial Body
Each ASEAN Sectoral Ministerial Body has four general functions:
(a.) Function in accordance with their respective established mandates;
(b.) Implement the agreements and decisions of the ASEAN Summit under their
respective purviews;
(c.) Strengthen cooperation in their respective fields in support of ASEAN integration
and community building; and
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(d.) Submit reports and recommendations to their respective Community

Councils.
5. Secretary-General of ASEAN and ASEAN Secretariat
ASEAN Secretariat is comprised the Secretary-General and staff. The SecretaryGeneral and the staff have the obligation to refrain from any action which might
reflect on their position as ASEAN Secretariat officials responsible only to ASEAN;
not seek or receive instruction from any government or external party outside of
ASEAN; and uphold the highest standards of integrity, efficiency, and competence in
the performance of their duties. The ASEAN
Summit appoints the Secretary-General of ASEAN for a non-renewable term of office
of five-years. He/she will be assisted by four Deputy Secretaries- General, which will
be accountable to the Secretary-General in carrying out their functions.
6. Committee of Permanent Representatives (CPR) to ASEAN
Each ASEAN Member State appoints a Permanent Representative to ASEAN, with
rank of Ambassador based in Jakarta. Collectively, they constitute a Committee of
Permanent Representatives, who will support the work of the ASEAN Community
Councils and ASEAN Sectoral Ministerial Bodies. They liaise with the SecretaryGeneral of ASEAN and the ASEAN Secretariat on all subjects relevant to its work,
and facilitate ASEAN cooperation with external partners. They also coordinate with
ASEAN National Secretariats and other
ASEAN Sectoral Ministerial Bodies and perform such other functions as may be
determined by the ASEAN Coordinating Council.

7. ASEAN National Secretariats

According to the ASEAN Charter, each ASEAN Member State shall establish an
ASEAN National Secretariat which will serve as the national focal points, be the
reprisitory of information on all ASEAN matters at the national level, coordinate the
implementation of ASEAN decisions at the national level, contribute to ASEAN
community building. Beside these, they also coordinate and support the national
preparations of ASEAN meetings and promote ASEAN identity and awareness at the
national level.

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8. ASEAN Intergovernmental Commission on Human Rights (AICHR)

The ASEAN Intergovernmental Commission on Human Rights (AICHR) is the
human rights body mandated to be established under Article 14 of the
ASEAN Charter. The primary purpose of this body is the promotion and protection of
human rights in conformity with the purpose and principles of the
Charter.
9. ASEAN Foundation
This organ will support the Secretary-General of ASEAN and collaborate with the
relevant ASEAN bodies to support ASEAN community building by promoting greater
awareness of the ASEAN identity, people-to-people interaction, and close
collaboration among the business sector, civil society, academia and other
stakeholders in ASEAN.
This organ will be accountable to the Secretary-General of ASEAN, who will submit
report about this body to the ASEAN Summit through the ASEAN
Coordinating Council.
ASEAN also has other organs that are related to human rights. This includes the
ASEAN Commission on the Promotion and Protection of the Rights of Women and
Children (ACWC) and the ASEAN Committee on the Implementation of the ASEAN
Declaration on the Protection and Promotion of the Rights of Migrant Workers
(ACMW).

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Chapter 4 - IMPACT OF ASEAN Example of Thailand as a

member of ASEAN and with the coming AEC.
The ASEAN Economic Community aims to increase regional competitiveness by
reducing the cost of cross-border trade, thereby increasing the flow of both people and
goods through the 11 (10 full time) member states. It achieves this with simplified
visa processes, equitable economic development, low import duties and the
development of a single market. All of these things are positive contributors to a
growing number of regional travellers for both business and leisure purposes, and
greater integration between companies who operate internationally.
As the effects of ASEAN integration will impact a broad spectrum of companies in
Thailand, it is important that organisations are ready to not only cope but also
capitalise on the growth effects of the impending liberalisation brought about by full
ASEAN Economic Community integration.
Which countries are parts of ASEAN?
Currently, ASEAN (Association of South East Asian Nations) consists of 10 full
members:

Indonesia
Malaysia
Philippines
Singapore
Thailand
Brunei
Myanmar
Cambodia
Laos
Vietnam
East Timor (bid stage)

ASEAN plus 3 includes South Korea, China and Japan, who have pledged support
to certain rules concerning the reduction in cross-border legislation and cost
reduction, but who are not full members of the ASEAN community.

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There are both opportunities and threats in the emerging single market and
production base framework.
What are the potential benefits and dangers for any company?
In terms of benefits, the AEC effectively means an integrated total consumer base of
over 600 million potential customers. This is the most exiting facet of economic
integration. Reduction in the cost of moving people and goods across borders will
bring a real opening-up of the regional market particularly in terms of hospitality and
the MICE sector, where more people in Asia will be encouraged to discover a wider
variety of business and leisure destinations at a lower cost. This will result in huge
growth in the tourism, hospitality and international business sectors. The lower cost
bases will also encourage healthy competition, raising the bar universally on a variety
of industries in Asia. It has the potential to increase the appeal of this area for both
international business and leisure visitors. Overall, ASEAN Economic Integration is
seen as being a highly exciting prospect and many organisations welcome it warmly.
In terms of threats, the ASEAN Economic Community will bring increasing levels of
high quality overseas competition to market, so firms with an advanced market
position have to ensure that their operations support the maintenance of their position
as regional leaders in this regard. For this reason, industries in Thailand need to offer
a unilaterally high standard of service, a more sophisticated product offering and the
ability to fulfill the demands of international and regional business and leisure
customers, without losing the uniquely charming Thai approach to business, leisure
and tourism in Thailand.

Independent National Identity under ASEAN

Two cornerstones of the ASEAN Community since its inception in 1967 have been
national existence and national identity. This is significant in sectors involving
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inbound travel or inbounds business to Thailand because a core part of the appeal of
travel to various countries is to enjoy a local experience, which is in-keeping with a
national identity. In the case of Thailand, this means world famous hospitality,
culturally significant sites and attractions, low cost of doing business, a liberalised
economy, a pro-business government (regardless of political differences and shifts in
leadership) and a fundamentally sound economy which is capable of sustained
growth. ASEAN will remove barriers in terms of cultural integration, but its
important that Thailand is able to retain its intrinsic Thai-ness for both business and
leisure travellers to the country.
For Thailand, what are the countrys strengths and weaknesses in the 11-country
ASEAN grouping, generally?
Strengths

A famously service-minded culture

A strong reputation of being able to take care of international and regional

visitors
A visitor experience that is exotic, welcoming, relaxing and fun.
Great value with excellent return on investment
An already liberalised trade economy
A pro-business government
Continued investment in infrastructure projects
Unique blend of traditional and modern elements that have become

synonymous with the country

A quintessentially Thai experience which guests to the country expect and
enjoy

Weaknesses

Poor reputation for hygiene, cleanliness, health and safety,

Lack of knowledge and quality of training of staff in certain sectors
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Prices have become subject to recent inflationary pressures

A lack of a baseline standard across many professional industries
Unstable and unpredictable political environment
Widespread corruption at ministerial, devolved regional and independent

policing tiers
Saturated retail and leisure markets
Increasingly sophisticated demands of customers

What measures should industries be taking universally in preparation for AEC?

All organisations at various levels have to join together to improve and leverage the
standard of their industry in Thailand to maintain the countrys market position and
cultural integrity. New innovative developments in terms of products and services
should help to evolve the industry as Thailand remains a forward-looking
environment for business. Development of facilities and infrastructure (again, with a
universal standard) will support future growth. Thailand is able to leverage its
international reputation for service regardless of the sector being considered. The
country will need to maintain a strong government that is pro-business and proinvestment in order to support this objective. Centralized business operations (in
Thailand or overseas) and control of licensing and franchising will help to evolve an
international standard domestically, which positions the country to be most effective
post-integration. The country needs to implement effective monitoring of hygiene,
sanitation, cleanliness and the development of personnel across a variety of public
facing sectors.
Whilst it is impossible for a single organisation to fully spearhead these widespread
initiatives, companies should be looking at their own internal operations, structure,
procedures and strategic planning and resources to be ready to exploit opportunities
for growth, and mitigate any country-level perception threats.
Trade and Export
Thailands baseline growth has been enigmatic over the last fifteen years; economic
crashes in Asia and Europe, political coups, widespread corruption, floods, issues with
the Red Shirt political movement, turmoil in the far South of the country and recent
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bomb threats in the capital, yet still the economy grows. This is potentially the result
of Thailands efforts towards becoming a more diversified economy, as it moves away
from being simply a tourism hot-spot and exporter of rice. Thailand currently enjoys a
strong global reputation in finance, manufacturing, produce & commodities,
technology,

healthcare,

education,

automobile

manufacturing

and

software

development an excellent GDP mix that has managed to overcome myriad issues in
the last two decades. This mix should mean that Thailand will not only prosper after
integration, but be able to drive regional growth as both a thought leader and model
for improving baseline revenue generation amidst its peers. However, several
countries within the region are also enjoying strong growth levels, and from a lower
base cost of production; ASEAN economic integration will provide a platform for the
accelerated growth of competitors, which may or may not prove to be detrimental to
Thailands own designs on a thrust towards sustained expansion.
Labour Market
One of the key benefits that integration has afforded to people within the EU is the
unprecedented level of mobility it gives to those of working age. The common market
has resulted in a highly reactive workforce, which has little hesitation in relocating to
find (or improve) their working life. It also raises issues in terms of uncapped
immigration, as France, Germany and the UK have discovered to be detrimental in a
number of ways. Inbound flow of skills and a readily-employed labour force is great
for a growing GDP contribution, but teething troubles in the systems checks and
balances results in hundreds of thousands of people moving between borders,
obviously having a considerable impact on citizens of a sovereign state. Once signed
up, it is impossible for a member country to limit the number of immigrants from
other member states, creating demands on housing, healthcare and policing resources.
It also opens up a potential easy channel for Brain Drain, where the most educated
members of society leave to pursue opportunities in regional competitor labour
markets.
Travel, Tourism & Hospitality
An industry, which is likely to see huge benefits (and challenges) after integration, the
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travel and tourism sector is on the front line of key changes through integration. It is
easy to assume that with travel restrictions being reduced that inbound traveller
numbers to Thailand will increase, but the sector needs to be aware that this increases
the mobility of traditional domestic staycation markets. One effect of EU
integration was a huge reduction in the cost of overseas holidays, which meant that it
was often cheaper for holidaymakers to go for cheap overseas packages rather than
taking holidays in other parts of their own country. This has an effect on the
economys revenue-generating abilities at large. In terms of inbound numbers, there
could be a profound effect on hospitality demand, but with Thailand already
oversupplied with hotels, condos and resorts, the effect is yet to be fully understood.
Most within the industry see ASEAN as a key game-changer for the next decade;
although a need for increasing levels of competitiveness are necessary for Thailand to
remain a regionally attractive destination over other exotic and new-to-market
destinations like Laos and the Philippines. Thailands reputation for untrustworthy
vendors, capitalising taxi and tuk tuk drivers, high visitor attraction costs for
foreigners compared to Thais and other security concerns leave the sector exposed to
new neighbours in many respects, and illustrative of a focused, industry-wide
approach being conducive to domestic competitiveness.
Logistics
An early adopter of infrastructure-driven strategy for the benefit of capitalising on
integrated cross-border activity, the logistics industry understands full well what
integration will mean for this sector; reduced transportation costs, simplified
documentation, improved integrated scanning and reading technology, cost sharing,
hub sharing and expedited delivery times are all exciting benefits of integration. Areas
including Laos and Myanmar remain a challenge, but the breaking down of
(perceived and administrative) borders should help cross-border trade hugely. There is
also the added benefit that extends beyond the logistic sector; that is, reduced costs
mean higher volumes for importers and exporters, and in theory, a much larger
volume of chargeable haulage for integrated logistics providers.
Education

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Reduction in legislative barriers to students wishing to study in other countries within

the community will likely have a similar affect to that seen within the EU. Effectively,
a student may choose where to study, with a single pool of education (conceptually)
open to all. There are limitations, of course. For example, a student from Laos may
wish to study at a top ranked university in Singapore, although the cost may be
prohibitive. The positive effect lies in the fact that after integration, all education
centres may be judged from a common baseline; the hope is that this will give schools
in countries where education is substandard more impetus to improve to at least meet
a regional average. There is also the possibility that a liberalised South-east Asia will
be capable of attracting a greater number of high-calibre students from Europe and
America.
Food & Beverage
Asia has for many years enjoyed something of an integrated single market in terms of
F&B import and export. A quick walk around a mall in Thailand will reveal huge
cross-over in the restaurant market with Japanese, Korean and Vietnamese food
popular with many Thais. Thailand also enjoys a strong export market, with a low
cost base being a positive contributor towards healthy levels of outbound canned and
bottled goods trades. Integration may possibly mean that more cross-over products
becoming available in all member countries, with Laos and Myanmar representing
potential growth markets for exporters. Weak infrastructure has been a barrier to this
flow so far, but reduction in legislative difficulties and duties should help promote
two-way trade in this sector, and the opening up of a vast regional single market.

4.2 SWOT Capitalization Case Study The Retail Market

The Mall Group, a successful Thai-owned developer and manager of shopping malls,
wants to enhance the skills of its employees and prepare all of its business units for
the formation of the ASEAN Economic Community in 2015. It opened an Academy
earlier this year at The Mall Ngam Wong Wan to train 1,000 managers on creativity
and a wider business perspective with the ASEAN single market in mind.
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The Academy will provide knowledge to our mid-level executives, covering areas
including general business, the ASEAN retail market, good preparation in response to
market integration and dealing with the threat of growing competition from the AEC,
said Chairman Maytaprechakul, Senior Chief Marketing Officer.
The AEC is supposed to allow a wider flow of products, investments and skilled
workers within the region, so when tourists visit any ASEAN country, they will
expect to see similar products when they go shopping. The Mall has negotiated with
brand owners of fashion products in other ASEAN countries to carry these items.
Some fashion items available in Japan will have to be here as well. Thats why our
people have to understand the trends and know the regional market, he said. Staff
language skills are also important to the firm. Therefore, a number of Englishspeaking sales staff will be available at Siam Paragon, Emporium and other branches
of The Mall.
The company is excited about the AECs potential as there is huge purchasing power
across the region, and Thailand is one of the most popular tourist destinations.

Conclusion
When the AEC officially comes into effect on December 31, 2015, it will mark a
significant milestone of ASEAN member countries commitment to come and work
together as an economic bloc. While it would be unrealistic to expect a smoothly
functioning economic community right from the start, the AEC framework could lift
the sense of solidarity and ultimately business and consumer confidence. The AEC
will still be a work in progress and should be perceived in that light. It is also
important to recognise that a regional network will not cure domestic economic ills.

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Different countries and different sectors will see different effects.

A potential negative impact could be fiercer competition and wage constraints for
low-skilled workers in high-cost (high-income) countries, similar to what blue-collar
workers in the US and EU have faced in the wake of globalisation. For small
businesses in the high-cost countries, more competition could also bring about a
squeeze in profit margins. For small countries, a sudden surge in capital inflows can
be overwhelming and lead to high inflation, bubble risks, a boom-bust cycle and
stress for the banking sector. Measures should thus be prepared to help potentially
affected workers (i.e. expanding social security nets and training) and, in the smaller
economies, to build institutions to cope with the new economic paradigm.
Those that stand to gain from the AEC are companies that already have a regional or
global network, as the ease of moving goods, capital and labour around will reduce
costs and save time and thus enhance productivity. Educated workers from lowerwage countries are likely to be in demand in the initial stage. Job creation is expected
to be strong in the lower-wage countries. The financial sector is another clear winner.
Increasing trade and investment flows spell more business for financial institutions.
Overall, we expect the AEC to bring about a net positive contribution to ASEAN
members economic growth and the welfare of its people.

BIBLIOGRAPHY

http://www.marketingthai.or.th
http://www.asean.org
www.aseansec.org
www.adbi.org
www.nationmultimedia.com
www.marketingthai.or.th

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