The ASEAN Economic Community, planned to come into effect in 2015, is expected to liberalize goods, capital and skilled labor flows in the ASEAN region. While there has been considerable progress in the area of trade integration, financial integration still lags behind. The ASEAN Banking Integration Framework, which aims to liberalize the banking market by 2020, could help pave the way for further integration and the entry of ASEAN banks into regional banking markets.
Achieving full and free movement of goods, capital, and people within the ASEAN Economic Community is a long process that must continue beyond 2015.
A forward-looking, regional approach is needed for countries in Central Asia to respond to the pandemic and prepare for future public health threats.
Central Asia has for centuries been seen as a neglected Russian “backyard,” but international interest in the region has increased over the last two decades because of its vast stores of energy and natural resources. To achieve a brighter future the region must pursue greater economic integration.
Last Friday, 7 March, 2014, Shanghai Chaori Solar Energy Science and Technology Co Ltd defaulted on its 1 billion yuan ’Chaori-11 bond‘ when it failed to pay in full the coupon due that day. The default should not have taken investors by surprise as the company has been struggling over the past few years due to general weakness in the solar panel market.
By standing together, Asia’s growth poles can take the next step toward even greater prosperity.
Vice-President Stephen Groff shares his views on cooperation among Mekong countries from the 22nd GMS Ministerial Conference in Ha Noi, Viet Nam.
The pandemic has underscored the importance of trade facilitation within South Asia and with the region’s neighbors.
Migration in the Asia-Pacific region is diverse and enduring. It cannot be handled by one country alone. Regional cooperation is needed.
The pandemic provides an opportunity for regional financial cooperation on reforms to make Asian banks more resilient to crises.