AEC Opportunities in ASEAN Free Market Competition and Other Regions
The challenges faced by every country in Southeast Asia with
the introduction of the MEA are differences in economic development,
infrastructure development, and differences in legal policies. In addition to
the AEC, ASEAN is also involved with a number of other free markets, for
example:
ASEAN Trade in Goods Agreement (AITIG) is an agreement
between ASEAN and India in the field of trade in goods.
- ASEAN-Korea Free Trade Area (AKFTA) is a free market agreement between ASEAN countries and Korea.
- ASEAN-China Free Trade Area (ACFTA) is free trade between ASEAN countries and China.
- The ASEAN-Japan Comprehensive Economic Participation Agreement (AJCEP) is an agreement of ASEAN countries in cooperation in the economic field with Japan.
- ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is a free market agreement between ASEAN countries and Australia and New Zealand.
The existence of several free market agreements is expected
to not overlap in terms of policy. However, it is hoped that they can actually
work together for the better economic growth of ASEAN countries. The
implementation of the AEC is supported by the Initiative for ASEAN Integration
(IAI) whose task is to minimize the differences in economic development between
ASEAN member countries. The following points can make the AEC a form of
cooperation that can support the economic growth of member countries amid other
cooperation agreements.
- The main objective of the MEA is to create a single market based on highly competitive production with the integrity of trade regulations.
- MEA is a golden opportunity for business actors to add facilities, investments, and have a broader level of competition.
- The MEA free market is focused on several sectors, including the goods and services sector.
- In the goods sector, the main priorities are the agriculture, automotive, fisheries, electronic equipment, rubber-based industries, wood-based industries, and textiles.
- In the service sector, the main priorities, including information technology, health services, tourism, and logistics.
Special Agreement on Professional and Expert Fields
In the field of professions and experts, the implementation of the MEA is supported by Mutual Recognition Arrangements (MRA) agreements. The purpose of the agreement is to recognize the accreditation of various professions so as to facilitate professional cooperation from each country.
There are eight professions that already have MRA as stated
in ASEAN Mutual Recognition Arrangements, namely:
- Professional engineer (HR in engineering) in ASEAN Mutual Recognition Arrangements on Engineering Services.
- Nurse profession in ASEAN Mutual Recognition Arrangement on Nursing Services.
- Professional architect in ASEAN Mutual Recognition Arrangement on Architectural Services.
- Survey profession professionals in the ASEAN Framework Agreement on Mutual Recognition of Surveying Qualification.
- Dentist profession in ASEAN Mutual Recognition Arrangement on Dental Practitioners.
- Professional medical personnel in the ASEAN Mutual Recognition Arrangement on Medical Practitioners.
- Professional accountant in the ASEAN Mutual Recognition Arrangement Framework on Accountancy Services.
- Tourism professionals in the ASEAN Mutual Recognition Arrangement on Tourism Professionals.
