Wednesday, August 3, 2011

Year 10: Trade: ASEAN members start moves to harmonize policies | BusinessWorld Online Edition

1. To improve and harmonize trade and investment policies.

2. The Economic Research institute for ASEAN. They intend to monitor how the propsed plan and to keep track on the success of it.

3. The ASEAN Economic community. They plan on helping countries identify commitments that will deliver the best results.

4. The three areas of focus are: Trade and transport,services and investment facilitation.

5. The groups plan to meet once a year in order to maintain its goals and remain successful.

6. They intend to establish a knowledge bank that includes possible tools that members can use to pursue effective reforms.

7.Dato Lim Jock Hoi  is the chairman and he is the minister for foreign affairs for Brunei. Brunei has a population of 400000 which is extremely low compared to Australia. Their GDP is 20.382 billion.

8. Economic integration refers to trade unification between different states by the partial or full abolishing of customs tariffs on trade taking place within the borders of each state.

9. I think it is a good thing for Australia because it will improve Australias image as they will be helping countries that are in a worse position economically and they will be encouraging growth between them.