ASEAN to declare single market soon

[LoverofCar]

How do you guys see such a move? Free travel within ASEAN? Possibility of same currency and etc....Personally, I foresee many issue such as the nearby countries crime starts to flood Singapore. Afterall, not all the Asean countries have the same economic development level.

 

ASEAN to declare single market but delays deeper integration: Malaysia

 

https://sg.news.yahoo.com/asean-declare-single-market-delays-deeper-integration-malaysia-134610829.html?linkId=11937214

 

 

 

 

ASEAN will officially call itself a single market by year's end, but "big things" like seamless travel within the 10-nation bloc would only come in 2020, Malaysia's trade minister told AFP in an interview.

"We're going to declare ourselves as an ASEAN Economic Community," said Mustapa Mohamed, whose country holds the rotating presidency of the Southeast Asian bloc this year.

"We don't have complete integration or harmonisation yet, 2015 is laying the stage for bigger things to come," he said on the sidelines of the World Economic Forum in Davos.

"We're going to get almost there by 2015 but the big things like seamless travel... would come in 2020.

"What's important is that we're committed, I'm not saying that we're backtracking," added the minister.

The Southeast Asian bloc, a market of about 600 million people, had set 2015 as a deadline for integrating the region's vast economies into a single European Union-style market, with tariffs abolished and free movement of skilled workers.

But there is much scepticism that the targets could be met, as the bloc is made up of countries in vastly different stages of economic development.

Myanmar, for instance, is just opening up its economy after decades of isolation over its outright military rule which came to an end in 2011.

At the opposite end of the spectrum is Singapore, which ranks among the world's richest nations.

Mustapa acknowledged that it would only be "in 2020 that you'll see more progress in ASEAN economic integration" in term of the abolishing of non-tariff barriers, and flow of skilled labour.

By year's end, there will be "freer movement of goods and services but not free movement of goods and services."

The business community has been pushing political leaders to move faster on integration, but Mustapa said the ASEAN model is gradual.

"The business community wants ASEAN to be integrated as one entity. The fact is that there are border issues, customs, immigration, and different regulations," he said.

In addition, there is little understanding among the general public on how a single market can change their lives, said the minister.

"Some fear that they would be robbed of their jobs, that come December 2015, I'll be out of job because my Malaysian friend is coming over," he said.

"We need to do a lot more in terms of communication."

Asked if Europe's recent economic woes over heavily indebted member states like Greece had put off integration plans, Mustapa said that "from day one, we know that we're not going to adopt the EU model".

A single currency or a parliament were never part of the bloc's plans, he said.

ASEAN groups together Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

 

Edited January 26, 2015 by LoverofCar

[Shull]

How do you guys see such a move? Free travel within ASEAN? Possibility of same currency and etc....Personally, I foresee many issue such as the nearby countries crime starts to flood Singapore. Afterall, not all the Asean countries have the same economic development level.

 

ASEAN to declare single market but delays deeper integration: Malaysia

 

https://sg.news.yahoo.com/asean-declare-single-market-delays-deeper-integration-malaysia-134610829.html?linkId=11937214

 

 

 

 

ASEAN will officially call itself a single market by year's end, but "big things" like seamless travel within the 10-nation bloc would only come in 2020, Malaysia's trade minister told AFP in an interview.

"We're going to declare ourselves as an ASEAN Economic Community," said Mustapa Mohamed, whose country holds the rotating presidency of the Southeast Asian bloc this year.

"We don't have complete integration or harmonisation yet, 2015 is laying the stage for bigger things to come," he said on the sidelines of the World Economic Forum in Davos.

"We're going to get almost there by 2015 but the big things like seamless travel... would come in 2020.

"What's important is that we're committed, I'm not saying that we're backtracking," added the minister.

The Southeast Asian bloc, a market of about 600 million people, had set 2015 as a deadline for integrating the region's vast economies into a single European Union-style market, with tariffs abolished and free movement of skilled workers.

But there is much scepticism that the targets could be met, as the bloc is made up of countries in vastly different stages of economic development.

Myanmar, for instance, is just opening up its economy after decades of isolation over its outright military rule which came to an end in 2011.

At the opposite end of the spectrum is Singapore, which ranks among the world's richest nations.

Mustapa acknowledged that it would only be "in 2020 that you'll see more progress in ASEAN economic integration" in term of the abolishing of non-tariff barriers, and flow of skilled labour.

By year's end, there will be "freer movement of goods and services but not free movement of goods and services."

The business community has been pushing political leaders to move faster on integration, but Mustapa said the ASEAN model is gradual.

"The business community wants ASEAN to be integrated as one entity. The fact is that there are border issues, customs, immigration, and different regulations," he said.

In addition, there is little understanding among the general public on how a single market can change their lives, said the minister.

"Some fear that they would be robbed of their jobs, that come December 2015, I'll be out of job because my Malaysian friend is coming over," he said.

"We need to do a lot more in terms of communication."

Asked if Europe's recent economic woes over heavily indebted member states like Greece had put off integration plans, Mustapa said that "from day one, we know that we're not going to adopt the EU model".

A single currency or a parliament were never part of the bloc's plans, he said.

ASEAN groups together Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

 

 

Expect more "skilled" FT to come into SG. I forsee wages for entry/middle level jobs in Singapore will be even more stagnant when this thing kick in.

 

That being said, because our education system is better than our neighbours, i hope our higher end skilled workers can more easily go into neighbouring country as expat.

[Jman888]

why only the malaysian is talking?

 

after seeing what happen to Europe, do they really want to have this?

[Galantspeedz]

no thanks

[Mockngbrd]

No thanks Criminal-land. Imo, if PAP agrees, they can say byebye to politics.

 

 

How come Mland now want to integrate? last time thot they kick us out?

Edited January 26, 2015 by Mockngbrd

[Icedbs]

don't think it will ever happen.

[Shull]

why only the malaysian is talking?

 

after seeing what happen to Europe, do they really want to have this?

 

We will be like UK in the rest of Europe. They are technically in the EU, but they EU citizens going into UK still need to clear immigration.

[Celicar]

We are caught between a rock and a hard place. We cannot publicly say no.

[Vid]

We are caught between a rock and a hard place. We cannot publicly say no.

 

No

 

This is a public forum. Hope they can see my answer

[Spring]

If really come true then we'll have single currency like Euro?

 

And history repeating itself where the weaker countries will need to be bailed out and the stronger countries calling the shots? Too many ifs and buts to happen IMO and also you need to be politically stong and have a history which Asean do not have, we shall see.

[Kb27]

SG is going to experience this:

 

1. More locals will find it difficult to get a job with more FT coming in and asking for low low pay

2. Pay will stagnant or decline

3. Everything else will go up in cost, transportation, housing, food, etc.

 

More good years ahead !

[Wt_know]

oh no ... better not follow the EURO debacle ...

even the european countries regret now for free-flow of workers

greek, spanish, italian, portuguese, etc all go to germany to work ...

 

who suggest that huh ? already seen EURO so fked up ... still want to go that way?

Merkel already sibei pissed for picking up the shit from other european countries ...

 

 

Edited January 26, 2015 by Wt_know

[Xers007]

Siao ah... we better stay away from this kind of orgy...

[LoverofCar]

Singapore will be the carrot head to sponsor the weak countries...opps...isn';t it we are already doing that...in fact in the whole Asia pacific.

Edited January 26, 2015 by LoverofCar

[Tigerwoods]

Europe got Euro as their currency

ASEAN got AsHo?

[Mustank]

When you are young pretty and wet, you wouldn't join an orgy

[Hydrocarbon]

If really come true then we'll have single currency like Euro?

 

And history repeating itself where the weaker countries will need to be bailed out and the stronger countries calling the shots? Too many ifs and buts to happen IMO and also you need to be politically stong and have a history which Asean do not have, we shall see.

 

Please NO!

 

If single currency, it will not be good for Malaysians currently working in Singapore, nor good for Singaporeans at all.

 

I don't want the free migration of people, especially not into Singapore. Already not enough space / infrastructure for Singaporeans still wanna add more people?

[Spring]

 

Please NO!

 

If single currency, it will not be good for Malaysians currently working in Singapore, nor good for Singaporeans at all.

 

I don't want the free migration of people, especially not into Singapore. Already not enough space / infrastructure for Singaporeans still wanna add more people?

 

I'm with you on this and I'm sure most Singaporeans as well.

 

I'm not exactly familiar with the makings of the Euro but I know that there can be political pressures esp for the stronger economies to follow suit like Germany in the EUR case so S'pore may face the same. That said, my take is Asians are very "face conscious" so I just can't see the weaker economies "kowtowing" to the stronger economies which would be the price to pay for them on one side and for the stronger countries to even consider agreeing on the other side, so a long shot in my view.