Thammasat University students interested in ASEAN studies, economics, political science, sociology, and related subjects may find it useful to participate in a free 5 September Zoom webinar on ASEAN Economic Community (AEC) 2045: The Next Phase of Regional Economic Integration.
The event, on Thursday, 5 September 2024 at 9am Bangkok time, is organized by the ISEAS – Yusof Ishak Institute, Singapore.
The event announcement explains:
About the Webinar
Under the ASEAN Community 2025 Vision, the ASEAN Economic Community (AEC) aspires to be “highly integrated and cohesive”, “innovative and dynamic” while achieving enhanced connectivity and integration with the global economy. Since the implementation of the AEC 2025 Blueprint in 2016, there have been some notable accomplishments including the Regional Comprehensive Economic Partnership (RCEP) Agreement in 2020 and the launch of the ASEAN Digital Economy Framework Agreement (DEFA) negotiations in 2023. Moreover, supply chain disruptions stemming from pandemic lockdowns, as well as economic and policy uncertainties arising from geopolitical tensions, have also brought renewed focus on strategies to strengthen economic resilience including the development of a more integrated regional financial market. Attention to sustainability and climate change issues have also been strongly emphasized, with some key initiatives introduced such as the launch of the Roadmap for ASEAN Sustainable Capital Markets and upgrades in various ASEAN-plus FTAs that better align with sustainability and climate-related objectives.
The webinar will discuss the AEC 2025 achievements, the economic integration measures and the drivers and challenges under the AEC 2045 vision, and how the AEC 2045 could facilitate more steadfast and sustainable growth of the private sector in the region.
About the Speakers
Mr. Allen Ng is Group Head and Principal Economist at the ASEAN+3 Macroeconomic Research Office (AMRO). He leads the Regional Surveillance group, which is responsible for the annual ASEAN+3 Regional Economic Outlook and related updates. […]
Dr. Ahmad Zafarullah Abdul Jalil is currently the Director of ASEAN Integration Monitoring Directorate at the ASEAN Secretariat. He oversees the systematic monitoring of the implementation and outcomes of ASEAN’s regional economic integration agenda, as well as ASEAN’s post-pandemic recovery efforts through the ASEAN Comprehensive Recovery Framework. […]
Mr. Raymond Yee is currently the Vice President for Customs and Regulatory Affairs for DHL Express covering Asia Pacific (excluding China). His role includes working with governments, particularly Customs and Trade agencies on various reform and modernization programmes and enhancing partnerships between DHL Express and Customs administrations from across the region. […]
The TU Library collection includes several books about different aspects of AEC regional economic integration.
Students are invited to register at this link for the event:
https://us06web.zoom.us/webinar/register/4017237733568/WN_-WVbyQRCSlSxxVs9VOQ0RA#/registration
Last year, an article posted on the website of The ASEAN Magazine,
Achieving the ASEAN Community Vision 2045, observes:
What should we look out for?
“Ten mouths speaking are not as good as seeing with one’s own eyes; ten eyes that see are not as good as what one has in one’s hand” (ສິບປາກເວົ້າ ບໍ່ເທົ່າຕາເຫັນ; ສິບຕາເຫັນ ບໍ່ເທົ່າມືບາຍ). It is important that ASEAN leverages new trends and growth opportunities and ensure that concrete actions result from the many Declarations and Leaders’ Statements so that lives and livelihoods can be safeguarded, and ASEAN is able to maintain its attractiveness for global trade and investment. The following are a selection of socio-economic trends and issues that are expected to occupy policy attention in ASEAN in the years to come:
Sustainable Development. Sustainable development will become increasingly urgent. The spotlight will be on our preparedness for future shocks, such as financial and health crises, enhancing economic and digital resilience, addressing gaps in social protection, and transitioning to sustainable and green economies. In line with our commitment to sustainable development, the ASEAN Outlook on the Indo-Pacific, or AOIP, will be a major anchor for our cooperation and partnerships on sustainable development. Through the AOIP, ASEAN has a significant role in advancing the region’s resilience, infrastructure, sustainable consumption and production, poverty eradication, and sustainable management of natural resources.
Demographic Change. Demographic change is affecting all aspects of society. While some ASEAN Member States face the challenge of ensuring sustained economic growth with an ageing workforce, others witness increased numbers of youth and working-age persons.
Currently, half of ASEAN Member States have total fertility rates below replacement levels, which will lead to a shrinking workforce in years to come. There are now around 213 million youth (15-34 years old) in ASEAN Member States. The peak population of just over 220 million is expected in 2038.
ASEAN Member States are already facing population ageing. Singapore, Thailand, Viet Nam, and Malaysia are top among the ASEAN Member States with proportions of populations aged 60 or over and 80 or over, with Thailand and Singapore ageing most rapidly. ASEAN Member States are ageing rapidly due to low fertility and high life expectancy. In 2020, 11.2 per cent of the population or 74 million people are 60 years old or over. The number is expected to double (22.2 per cent) by 2050 (UNESCAP, 2021).
Strengthening social protection of older people alongside health infrastructure and services that targets active ageing and long-term care presents urgent challenges in Southeast Asia.
Care Economy. The growing number of older dependents in the region will exert pressure on the care sector and will necessitate higher investments to ensure adequate support for this older demographic. ASEAN recognises that increasing investments in the care economy can alleviate inequalities and help to meet multiple Sustainable Development Goals (SDGs) by 2030.
Paid care is a rapidly expanding economic sector and a substantial source of employment globally (The Asia Foundation, 2022). Investing in gender equal leave, universal childcare and long-term care services has the potential to generate up to 299 million jobs by 2035 (International Labour Organization, 2022). Notably, the provision of childcare alone could add some 3 trillion US dollars to the global economy each year (World Economic Forum, 2023).
Addressing the large coverage gaps in care services would require an annual investment of 5.4 trillion US dollars, which is equivalent to 4.2 per cent of total annual GDP by 2035 (International Labour Organization, 2022).
Care economy and investments can dovetail into the ASEAN Comprehensive Framework on Care Economy (ACFCE), which was developed during Brunei Darussalam’s ASEAN Chairmanship and adopted at the 38th and 39th ASEAN Summits on 26 October 2021 to further sustainable development and protect different segments of populations and sectors through care work and the care economy.
Digital Transformation. While there has been rapid internet adoption in the Southeast Asian region, where 71.2 per cent of the region’s total population uses the internet, there remains a significant disparity in access to technology in the region. Only 53 per cent of rural children and adolescents have an internet connection at home, as opposed to 72 per cent of urban kids. In Cambodia, the Lao PDR, and Myanmar, only a small portion of homes have access to broadband internet. And while mobile penetration is high in most ASEAN countries, many still do not have access to unlimited internet on their mobile devices. The prices to access digital networks are also too high, thus, limiting internet use. […]
(All images courtesy of Wikimedia Commons)