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View all search resultsIndonesia was the second-most targeted ASEAN market for European business expansion, with 57 percent of respondents planning to expand operations there over the next five years, trailing behind Vietnam at 64 percent.
In support of the ASEAN regional integration, the EU has helped establish the trade solution platform, dubbed the ASEAN Solutions for Investments, Services and Trade (ASSIST), through its ASEAN Regional Integration Support by the EU (ARISE) Plus technical facility.
With a gross domestic product of US$2.6 trillion, the AEC is the seventh-largest economic block. With a population of more than 620 million, it is the third largest in Asia, after China and India. In this regard, the Philippines will highlight ASEAN MSMEs as the main drivers of inclusive growth in the region.
US companies maintain their optimism about growth prospects and commercial opportunities in ASEAN countries. However, the survey also indicated that corruption continues to be a major concern for US companies considering expanding their businesses in Indonesia.
The ASEAN Political-Security Community (APSC) was first proposed by Indonesia in 2003 to balance the Singapore-proposed ASEAN Economic Community. However, it remains lagged more than a decade later as it still struggles to achieve any balance.The regional grouping has had a significant role since its inception in 1967 and is praised by many as one of the most successful regional groupings for its ability to maintain peace in Southeast Asia. This “relative peace and security” was dubbed by Hassan as “the greatest achievement of ASEAN”. However, the referred to “maintenance of peace” was quickly commented by an audience as the mere “avoidance of conflict.”
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