ASEAN: Regional Trends in Economic Integration, Export ... - USITC

BOX 2.1 Timeline of important milestones in ASEAN economic integration—Continued
Date Milestone Description
1999 Cambodia joins ASEAN
2000 Initiative on ASEAN Integration
(IAI)
October 2003
Declaration of ASEAN Concord II:
ASEAN Community by 2020
(9th ASEAN Summit or Bali
Concord II)
Goal is to address the development gap between member states
through soft infrastructure projects (such as training, technical
studies, and capacity building) and physical transport and
communication infrastructure projects, and to mobilize funding
from international financial institutions and developed countries for
support. About 258 projects have been completed to date.
Agreed to establish an ASEAN Community by 2020 that consists
of three pillars or communities based on political and security
cooperation, economic cooperation, and socio-cultural
cooperation. The ASEAN Economic Community (AEC) is the end
goal of the economic integration process described in the ASEAN
Vision. Eleven priority sectors are identified for accelerated
integration.
November 2004 Vientiane Action Program Successor to the Hanoi Plan of Action to help realize the ASEAN
Vision and the ASEAN Community. It covers the period 2004-
2010.
November 2004
ASEAN Framework Agreement
for the Integration of Priority
Sectors
Includes roadmaps for each priority sector that identify measures
to be implemented and timelines for their implementation.
January 2007 ASEAN Community by 2015 Leaders at the 12th ASEAN Summit agreed to accelerate the
establishment of an ASEAN Community; the target date is now
2015.
November 2007 ASEAN Economic Community
Blueprint
Leaders at the 13th ASEAN Summit adopted the ASEAN
Economic Blueprint, which provides the framework for achieving
the AEC by 2015.
December 15, 2008 ASEAN Charter implemented Establishes the legal and institutional framework for ASEAN.
February 26, 2009
March 2009
May 17, 2010
ASEAN Comprehensive
Investment Agreement (ACIA)
signed
Roadmap for the ASEAN
Community, 2009–2015
ASEAN Trade in Goods
Agreement (ATIGA) enters into
force
Source: Compiled by USITC from ASEAN documents, http://www.aseansec.org.
ACIA adds to investor protections under the AIA in several ways:
includes comprehensive investment liberalization and protection
provisions, including prohibition of performance requirements;
includes an investor-state dispute settlement process; and
extends benefits to foreign-owned, ASEAN-based investors. The
ACIA framework is a “negative list” framework; each member state
also compiles a list of reservations, or exclusions to the
agreement.
Consists of the Economic Community Blueprint (approved in
2007), the Political-Security Community Blueprint, the Socio-
Cultural Community Blueprint, and the Second IAl Work Plan.
Replaces the Vientiane Action Program.
ATIGA builds on existing initiatives related to trade in goods (e.g.,
CEPT-AFTA, nontariff measures, customs, ASEAN single window,
mutual recognition agreements, e-ASEAN, integration of priority
sectors, etc.). Goal is to achieve the free flow of goods to establish
a single market and production base, making it possible to realize
the AEC by 2015.
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