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Thread: ASEAN Economic Community (AEC)

  1. #1
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    Question ASEAN Economic Community (AEC)

    Yumo Traders Bangkok
    What do you think could be the impact of AEC on ASEAN countries and particularly Thailandonce implemented in 3 years time?

    Although little is yet known as clear regulations and guidelines would need to be drafted, it would be good to anticipate what the pros-and cons could be for us - Hoteliers and our businesses. How can we better anticipate the challenges and opportunities ahead?

    About the AEC:
    The ASEAN Economic Community (AEC) shall be the goal of regional economic integration by 2015. AEC envisages the following key characteristics: (a) a single market and production base, (b) a highly competitive economic region, (c) a region of equitable economic development, and (d) a region fully integrated into the global economy.

    The AEC areas of cooperation include human resources development and capacity building; recognition of professional qualifications; closer consultation on macroeconomic and financial policies; trade financing measures; enhanced infrastructure and communications connectivity; development of electronic transactions through e-ASEAN; integrating industries across the region to promote regional sourcing; and enhancing private sector involvement for the building of the AEC. In short, the AEC will transform ASEAN into a region with free movement of goods, services, investment, skilled labour, and freer flow of capital

  2. #2
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    I believe Thailand will encounter both opportunities and problems with AEC.
    The main problems – in my opinion – will be English language skills & acceptance of competition.
    Especially competition is something Thai people don’t like that much, so the government must focus on education to prepare the people.

    Even Thai’s might not like to work in other 'Asean' countries as they might not have the ‘freedom’ they are used to, people from other countries will come to Thailand for work.

    I somehow feel that Thai people have more knowledge about the western world than they have about their neighboring countries because Thai people tend to feel very much superior to their neighbors ignoring that Thailand lost out badly (and sadly) over the last years mainly because political problems and the ancient education system.

    I wish and dream that the Thai government would wake up and focus on a better 'quality education system' to change people’s perceptions and ego, but also to improve skills, workforce and give Thai people a better life with better opportunities to compete with skills and knowledge!
    Having said that, I believe that AEC will bring lots of challenges for Thailand, but it will also force Thai governments to work on current weaknesses.

  3. #3
    Yes its true. More people are now accepting western culture widely in asia. While their own culture is getting depleted.
    Silence is an art.

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