Roadmap to an ASEAN Economic Community

Foreword

x Foreword At the Ninth ASEAN Summit in October 2003, ASEAN leaders agreed to establish an ASEAN Community (AC) by 2020 (Bali Concord II). This community encompasses three major components or “pillars”, namely: 1. The ASEAN Security Community (focusing on regional political and security co-operation) 2. The ASEAN Economic Community (focusing on regional economic integration) 3. The ASEAN Social-Cultural Community (focusing on regional sociocultural co-operation) In line with the ASEAN Vision 2020 statement, the creation of an AC would ensure closer, more comprehensive, and mutually beneficial integration among ASEAN member states and their peoples. It would strengthen the basis for peace, stability, security, development, and prosperity within the region as well as enhance the regional coherence and competitiveness in the face of new challenges unleashed by globalization and the rise of new economic powerhouses in Asia. However, achieving the end goal of the ASEAN Community will be challenging, given the region’s cultural diversity, different levels of economic development, and variations in strategic outlooks and external affiliations. Translating such diversities into “equitable development opportunity and prosperity” (to which the Bali Concord II also aspires) will not be an easy task. The High-Level Task Force on ASEAN Economic Integration has produced a plan of action to kick-start the ASEAN Economic Community (AEC) project.The plan of action provides numerous policy recommendations 00 Roadmap2AEC Prelims 7/9/05, 4:02 PM 10 xi Foreword xi to be implemented over the next few years. At the track-two level the Institute of Southeast Asian Studies (ISEAS) and ASEAN–Institute of Strategic and International Studies (ISIS) have contributed concept papers on the AEC. Against this backdrop, ISEAS organized the ASEAN Roundtable in Singapore on 21–22 August 2003. The objective of the annual ASEAN Roundtable, which was first initiated by ISEAS in 1988, is to review major developments in ASEAN and to explore new directions for ASEAN economic co-operation in the light of the rapidly changing global environment as well as in terms of the emerging domestic economic situation and needs. The theme chosen for the ASEAN Roundtable 2003 was “Roadmap to an ASEAN Economic Community”. Dr Vivian Balakrishnan, Minister of State for National Development andTrade and Industry, delivered the keynote address. This book reflects the main findings that emerged from the ASEAN Roundtable 2003. I hope it is of interest to policy-makers and all those who have an interest in the future of ASEAN. K. Kesavapany Director ISEAS 00 Roadmap2AEC Prelims 7/9/05, 4:02 PM 11 ...