Association of Southeast Asian Nations (ASEAN ) and Regional Comprehensive Economic Partnership (RCEP)

Why ASEAN came to be ?• The colonial powers lefts these Asian regions shattered.

• Late start in business and technology compared to the more developed states was common to few Asian states.

• In 1961, Association of Southeast Asia (ASA ) consisting of the Philippines, Malaysia, and Thailand came into existence.

• In 1967, a simply-worded document containing just five articles called ASEAN Declaration or Bangkok Declaration with 5 nations adding Singapore and Indonesia.

• With aim to utilize the “untapped potentials of this rich region through more substantial united action.”

• Brunei Darussalam (1984), Vietnam (1995), Lao PDR and Myanmar (1997) and Cambodia (1999).

Objectives of ASEAN :

Initiatives and activities• ASSIST – Now ‘Open for Business’.

• ASEAN Tariff Finder – Supporting MSMEs into Regional and Global Value Chains

• ASEAN Power Grid.

• Trans ASEAN gas pipeline.

• 27 percent of world trade ($12.6 trillion) • 48 percent of the world’s population (3.4 billion)and• 26 per cent of world FDI inflows.(World Development Indicators).•If implemented it would bring large income gains to the world economy US$260–644 billion in a decade.

What RCEP can do ?

Impact on India

• India has little to gain in getting market access in goods in other countries due to its poor infrastructure and weak manufacturing base, but it thinks it has an upper hand in services negotiations.• (RCEP) trade talks have hit a hurdle because other countries are not receptive to this idea• India hopes to acquire market access for its growing skilled professionals and easier visa regimes in the RCEP member countries.

Conflicts and Controversies

• ASEAN adopts controversial human rights declaration

• The prime ministers of Cambodia and Thailand exchanged heated words over their border conflict at the ASEAN summit

• With Russian help, ASEAN looks to a controversial nuclear-powered future.

• ARF failed to issue joint communiqué due to sharply focused attention on disputes in the South China Sea.

• At ASEAN Vietnam Urges Greater US Involvement In Spratly Islands

Resources:

• http://www.civilsdaily.com/story/regional-comprehensive-economic-partnership-rcep/

• http://thediplomat.com/2015/03/why-rcep-is-vital-for-india/

• http://asean.org/asean/about-asean/history/• http://www.state.gov/p/eap/regional/asean/• http://www.voanews.com/a/conflict-and-controversy-

overshadow-unity-at-asean-summit-121467204/139143.html

• http://www.firstpost.com/world/asean-adopts-controversial-human-rights-declaration-527275.html