US firms doubt ASEAN 2015 single market goal
SINGAPORE – Two leading American business groups Tuesday said US firms operating in ASEAN countries are skeptical the regional bloc can meet a 2015 deadline to establish a single market.
The 10-member Association of Southeast Asian Nations (ASEAN) has set 2015 as the target for creating a single regional economic market known as the ASEAN Economic Community (AEC).
In a survey of 475 senior US business executives from the region — jointly conducted by the American Chamber of Commerce in Singapore and the US Chamber of Commerce — 52 percent said they “do not think that the AEC’s goals will be realised by 2015”.
Of those who doubt ASEAN will reach its deadline, nearly 60 percent “think that ASEAN will not reach AEC’s goals until 2020 or later”.
Only 23 percent of all executives questioned believe that ASEAN will meet its 2015 goal, the poll showed.
Despite their scepticism, the survey showed that US companies are optimistic about overall business prospects in the region.
US firms said their level of trade and investment in ASEAN rose over the past two years and expect this figure to climb over the next five years.
Indonesia was named the most attractive country for new business expansion, followed by Vietnam, Thailand and Myanmar.
PH ‘most improved’
Meanwhile the Philippines showed the biggest improvement in its business environment between 2008 and 2013, the survey said.
ASEAN, a region of 600 million people, wants to establish a common market and manufacturing base so that it can better compete as a group with giant neighbours such as China and India in terms of trade and investments.
While it has made strides in bringing down tariff barriers to trade in goods, services and investments, analysts have said the problem of creating a single market lies in removing non-tariff hurdles.
The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. –Agence France-Presse
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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