Wednesday, August 3, 2011

Year 10: Trade: ASEAN members start moves to harmonize policies | BusinessWorld Online Edition

  1. What is the goal of this ASEAN meeting? To improve and harmonize trade and investment policies as they pursue an integrated regional economy.
  2. What is ERIA? What do they intend to do? ERIA is the Economic Research Institute for ASEAN and East Asia. They intend to review the scorecard for the 2015 ASEAN Economic Community to identify the commitments that will have the best results for integration.
  3. What is AEC? What do they intend to do? The AEC is the ASEAN Economic Community. They intend to help integrate with each other in economic matters.
  4. What are the three key areas of focus? Trade and transport, services, investment facilitation.
  5. How often does this group plan to meet? Once a year.
  6. What do they intend to keep in their "knowledge bank"? Knowledge on the tools that members can use to pursue effective reforms and also a data bank that will include all the regulatory reforms ASEAN members have made.
  7. Who was the chairman of the meeting? What is his title? What is the population and GDP of his country? How does it compare to Australia? The chairman is Dato Lim Jock Hoi. He is the Brunei Ministry of Foreign Affairs permanent secretary. The population of Brunei is estimated at around 401890 and the GDP is 49241. Compared to Australia's population of  21874900 and the GDP of 38176.
  8. What do you think that economic integration means? To integrate a countries economy into another and so combine economies.
  9. Do you think that this is good or bad for Australia? It depends on who Australia is integrating with. It won't help if we integrate with a country that has a really bad economy.