Malaysia’s participation in the ASEAN economic community

The ASEAN Economic Community (AEC) was established in 2007 with the objective to create a single market and production base. The AEC is meant to allow the free movement of goods, services, skilled labour, and capital within the ten ASEAN economies by 2015. Malaysia has given its commitment to ASEAN&...

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Bibliographic Details
Main Author:	Alavi, Rokiah
Format:	Book Chapter
Language:	English English
Published:	Institute of Southeast Asian Studies 2014
Subjects:	HB Economic Theory
Online Access:	http://irep.iium.edu.my/58421/ http://irep.iium.edu.my/58421/ http://irep.iium.edu.my/58421/1/58421_Malaysia%E2%80%99s%20participation%20in%20the%20ASEAN%20economic%20community_SCOPUS.pdf http://irep.iium.edu.my/58421/7/54821_Malaysia%E2%80%99s%20participation%20in%20the%20ASEAN%20economic%20community.pdf

id	iium-58421
recordtype	eprints
spelling	iium-584212017-09-28T03:44:49Z http://irep.iium.edu.my/58421/ Malaysia’s participation in the ASEAN economic community Alavi, Rokiah HB Economic Theory The ASEAN Economic Community (AEC) was established in 2007 with the objective to create a single market and production base. The AEC is meant to allow the free movement of goods, services, skilled labour, and capital within the ten ASEAN economies by 2015. Malaysia has given its commitment to ASEAN's initiative to establish a single market, and has consistently been working towards enhancing regional and international linkages to mutually benefit from its trading partners and Asian neighbours. In fact, the AEC's vision and the goals of Malaysia's national economic development plans under the New Economic Model (NEM) are compatible. The vision of the AEC is “to create a highly competitive single market that promotes equitable economic development for member states, as well as facilitating their integration with global economy” (ASEAN Secretariat 2010). This is consistent with the key objective of NEM to develop Malaysia into a “high income nation with inclusiveness and sustainability by 2020” (NEAC 2009). In addition, the NEM highlighted the importance of integration especially with ASEAN countries and Asia through trade and investment in driving the long-term growth of the economy. Hence, it is understandable why Malaysia has been in the forefront in advancing ASEAN's initiative to strengthen regional economic cooperation and convergence. This chapter intends to study the motivation and prospects for Malaysia in participating in ASEAN Economic Community. The chapter also discusses the progress of Malaysia's implementation of AEC Blueprint and how Malaysia's involvement in ASEAN's initiatives is in line with its economic development objectives. Discussion on the challenges faced by Malaysia in deepening economic integration concludes the chapter. Institute of Southeast Asian Studies 2014 Book Chapter PeerReviewed application/pdf en http://irep.iium.edu.my/58421/1/58421_Malaysia%E2%80%99s%20participation%20in%20the%20ASEAN%20economic%20community_SCOPUS.pdf application/pdf en http://irep.iium.edu.my/58421/7/54821_Malaysia%E2%80%99s%20participation%20in%20the%20ASEAN%20economic%20community.pdf Alavi, Rokiah (2014) Malaysia’s participation in the ASEAN economic community. In: Malaysia’s socio-economic transformation: Ideas for the next decade. Institute of Southeast Asian Studies, Singapore, pp. 227-260. ISBN 978-981445968-6 / 978-981445969-3 https://bookshop.iseas.edu.sg/publication/2017#contents
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HB Economic Theory
spellingShingle	HB Economic Theory Alavi, Rokiah Malaysia’s participation in the ASEAN economic community
description	The ASEAN Economic Community (AEC) was established in 2007 with the objective to create a single market and production base. The AEC is meant to allow the free movement of goods, services, skilled labour, and capital within the ten ASEAN economies by 2015. Malaysia has given its commitment to ASEAN's initiative to establish a single market, and has consistently been working towards enhancing regional and international linkages to mutually benefit from its trading partners and Asian neighbours. In fact, the AEC's vision and the goals of Malaysia's national economic development plans under the New Economic Model (NEM) are compatible. The vision of the AEC is “to create a highly competitive single market that promotes equitable economic development for member states, as well as facilitating their integration with global economy” (ASEAN Secretariat 2010). This is consistent with the key objective of NEM to develop Malaysia into a “high income nation with inclusiveness and sustainability by 2020” (NEAC 2009). In addition, the NEM highlighted the importance of integration especially with ASEAN countries and Asia through trade and investment in driving the long-term growth of the economy. Hence, it is understandable why Malaysia has been in the forefront in advancing ASEAN's initiative to strengthen regional economic cooperation and convergence. This chapter intends to study the motivation and prospects for Malaysia in participating in ASEAN Economic Community. The chapter also discusses the progress of Malaysia's implementation of AEC Blueprint and how Malaysia's involvement in ASEAN's initiatives is in line with its economic development objectives. Discussion on the challenges faced by Malaysia in deepening economic integration concludes the chapter.
format	Book Chapter
author	Alavi, Rokiah
author_facet	Alavi, Rokiah
author_sort	Alavi, Rokiah
title	Malaysia’s participation in the ASEAN economic community
title_short	Malaysia’s participation in the ASEAN economic community
title_full	Malaysia’s participation in the ASEAN economic community
title_fullStr	Malaysia’s participation in the ASEAN economic community
title_full_unstemmed	Malaysia’s participation in the ASEAN economic community
title_sort	malaysia’s participation in the asean economic community
publisher	Institute of Southeast Asian Studies
publishDate	2014
url	http://irep.iium.edu.my/58421/ http://irep.iium.edu.my/58421/ http://irep.iium.edu.my/58421/1/58421_Malaysia%E2%80%99s%20participation%20in%20the%20ASEAN%20economic%20community_SCOPUS.pdf http://irep.iium.edu.my/58421/7/54821_Malaysia%E2%80%99s%20participation%20in%20the%20ASEAN%20economic%20community.pdf
first_indexed	2023-09-18T21:22:37Z
last_indexed	2023-09-18T21:22:37Z
_version_	1777411982374207488

Malaysia’s participation in the ASEAN economic community

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