The ASEAN Economic Community: Progress, Challenges, and Prospects

7/27/2019 The ASEAN Economic Community: Progress, Challenges, and Prospects

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ADBH \krghjl Vaper Perhes

Tme APEAJ E`kjkih` @kiiujhty?Vrklress, @maccejles,ajd Vrkspe`ts

Phkw Xue @mha

Jk. 446K`tkber 2610

Ashaj Deveckpiejt Bajg Hjsthtute


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Tme \krghjl Vaper serhes hs a `kjthjuathkj kn tme nkriercy jaied Dhsùsshkj Vaper serhes7tme juiberhjl kn tme papers `kjthjued whtmkut hjterrupthkj kr `majle. ADBHs wkrghjlpapers rence`t hjhthac hdeas kj a tkph` ajd are pksted kjchje nkr dhsùsshkj. ADBH ej`kuralesreaders tk pkst tmehr `kiiejts kj tme iahj pale nkr ea`m wkrghjl paper (lhvej hj tme`htathkj beckw). Pkie wkrghjl papers iay deveckp hjtk ktmer nkris kn pubchàthkj.

Pullested `htathkj?

@mha, P.X. 2610. Tme APEAJ E`kjkih` @kiiujhty? Vrklress, @maccejles, ajd Vrkspe`ts.ADBH \krghjl Vaper 446. Tkgyk? Ashaj Deveckpiejt Bajg Hjsthtute. Avahcabce?mttp?//www.adbh.krl/wkrghjl-paper/2610/16/25/581>.aseaj.e`kjkih`.`kiiujhty.prklress.`maccejles/

Vcease `kjta`t tme autmkrs nkr hjnkriathkj abkut tmhs paper.

Eiahc? `mhasyFshjljet.`ki.sl

Phkw Xue @mha hs Pejhkr Resear`m Necckw at tme Phjlapkre Hjsthtute kn HjterjathkjacAnnahrs.

Tme vhews expressed hj tmhs paper are tme vhews kn tme autmkr ajd dk jkt jeèssarhcy

rence`t tme vhews kr pkch`hes kn ADBH, tme ADB, hts Bkard kn Dhre`tkrs, kr tme lkverjiejtstmey represejt. ADBH dkes jkt luarajtee tme a`ùra`y kn tme data hj`cuded hj tmhs paperajd a`èpts jk respkjshbhchty nkr ajy `kjsequejès kn tmehr use. Terihjkckly used iayjkt jeèssarhcy be `kjshstejt whtm ADB knnh`hac teris.

Ashaj Deveckpiejt Bajg HjsthtuteGasuihlasegh Buhcdhjl =N

0-2-5 Gasuihlasegh, @mhykda-guTkgyk 166->66=, Oapaj

Tec? +=1-0-0580-5566Nax? +=1-0-0580-55


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ADBH \krghjl Vaper 446 @mha

Abstra`t

Perhkus ennkrts at e`kjkih` hjtelrathkj aikjl tme Assk`hathkj kn Pkutmeast Ashaj Jathkjs(APEAJ) ieibers started kjcy hj 1882. Hjhthac kbsta`ces hj`cuded tme whdespread pursuht knhipkrt substhtuthkj pkch`hes kn hjdustrhachzathkj, tme siacc extejt kn hjtra-APEAJ trade, ajd

tme whde dhnnerejès hj e`kjkih` shze, deveckpiejt cevec, ajd hjdustrhac `kipetejè lhvhjlrhse tk whdecy dhverlejt perèpthkjs kn bejenhts ajd `ksts kn hjtelrathkj. Tme swht`m tkkutward-ckkghjl deveckpiejt stratelhes ajd exterjac pressures (su`m as tme nkriathkj kntme Eurkpeaj Ujhkj Phjlce Iarget ajd tme Jkrtm Aierhàj Nree Trade Area) pressuredAPEAJ tk nkri a nree trade area (NTA) hj 1882. Tme `maccejles kn lckbachzathkj, sckwre`kvery nrki tme Ashaj nhjaj`hac `rhshs, ajd tme e`kjkih` rhse kn tme Vekpces Repubch` kn@mhja (VR@) ajd Hjdha nurtmer pressured APEAJ hjtk deep hjtelrathkj hj 2660 whtm tmenkriathkj kn tme APEAJ E`kjkih` @kiiujhty (AE@). Tme AE@ mas kboe`thves kn a shjlceiarget ajd prkdu`thkj base, a `kipeththve e`kjkih` relhkj, equhtabce e`kjkih`deveckpiejt, ajd hjtelrathkj hjtk tme lckbac e`kjkiy. Ht hjvkcves chberachzathkj ajdna`hchtathkj kn trade hj lkkds, servhès, ajd hjvestiejt, as wecc as prkte`thkj ajd prkikthkjkn hjvestiejt7 jarrkwhjl tme deveckpiejt lap7 ajd nree nckw kn sghcced cabkr ajd nreer nckw kn

àphtac. Tme AE@ Bcueprhjt kutchjes a`thkjs ajd ieasures ajd thie chjes nkr `kipcethkj bytme 2615 deadchje. Mkwever, by ejd-2611 kjcy aj hipceiejtathkj rate kn >


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@kjtejts

1. Hjtrkdu thkj ................................................................................................................ 42. APEAJ E`kjkih` Hjtelrathkj hj tme 18=6s1886s .................................................... 5

2.1 Na`tkrs Vusmhjl kr Hipedhjl APEAJ E`kjkih` Hjtelrathkj .......................... 52.2 Iarget-Drhvej Hjtelrathkj tmrkulm Vrkdu`thkj Jetwkrgs ................................


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4

1. HJTRKDU@THKJ

Tme Assk`hathkj kn Pkutmeast Ashaj Jathkjs (APEAJ) was nkried by Hjdkjesha,Iacaysha, Vmhchpphjes, Phjlapkre, ajd Tmahcajd hj 18>< iahjcy tk nkster relhkjac peaèajd seùrhty. Brujeh Darussacai okhjed hj 18=4, ajd @aibkdha, Cak VekpcesDeik`rath` Repubch` (Cak VDR), Iyajiar, ajd ^het Jai (@CI^) okhjed betweej1885 ajd 1888. E`kjkih` `kkperathkj ajd hjtelrathkj belaj ikdestcy hj 18)7 iarget kn >66 ihcchkj pekpce7 abujdajè kn jaturac reskur es ajdbhkdhvershty7 whde-rajlhjl prkdu`thve àpabhchthes (hj alrhùcture, iajuna`turhjl,ajd servhès)7 dhvershnhed expkrts by desthjathkj ajd prkdu`t7 ikstcy ykujl,

lrkwhjl pkpucathkjs ajd expajdhjl ihddce `cass7 strkjl nkrehlj dhre`t hjvestiejt(NDH) whtm strkjl prkdu`thkj jetwkrgs7 prklresshve kpej trade ajd hjvestiejtrelhies7 strkjl tra`g re`krd kn relhkjac `kkperathkj.

APEAJs weagjesses. Deveckpiejt laps betweej ajd whtmhj ieibers hjhj`kie, muiaj àphtac, hjsthtuthkjs, ajd hjnrastru`ture ajd tme absejè kn relhkjacdhstrhbuthve ie`majhsis7 dhsparhthes hj lkkd lkverjajè ajd tme ruce kn caw7dhsparhthes hj pkpucathkj lrkwtm ajd pkpucathkj alhjl, tmat tkletmer whtm dhsparhtheshj e`kjkih` lrkwtm cead tk carle cabkr denh`hts ajd surpcuses aikjl `kujtrhes tmatspurred `rkss-bkrder hccelac ihlrathkj7 sckw de`hshkj iaghjl ajd evej sckwerhipceiejtathkj kn AE@ `kiihtiejts due tk jeed nkr `kjsejsus buhcdhjl ajdsckw prklress hj dkiesth` renkris7 weag APEAJ Pe`retarhat whtm hjadequate

muiaj ajd nhjaj`hac reskurès7 weag chjgs betweej APEAJ ajd subrelhkjacprklrais su`m as tme Lreater Iegkjl Pubrelhkj (LIP) ajd APEAJ lrkwtmtrhajlces.

APEAJs kppkrtujhthes. @ejtrac stratelh` ckàthkj, whtm mhlm iarget pktejthac hjtme VR@ ajd Hjdha7 strkjl mhstkrhàc, ùcturac chjgs tmrkulmkut Asha7 strkjle`kjkih` chjgs whtm APEAJ+1 NTA iargets hj Austracha, Jew _eacajd, tme VR@,Hjdha, Oapaj ajd tme Repubch` kn Gkrea7 pktejthac deveckpiejt kn relhkj-whde NTAwhtm tme VR@, Oapaj, tme Repubch` kn Gkrea, Hjdha, Austracha ajd Jew _eacajd(R@EV)7 ajd raphdcy rhshjl ihddce `cass7 deep iajuna`turhjl ajd te`mjkckly chjgswhtm Jkrtmeast Asha7 nhjaj`hac `kkperathkj whtm VR@OapajRepubch` kn Gkrea hj

1

Tme AE@ was `kipceiejted by tme APEAJ VkchthàcPeùrhty @kiiujhty ajd tme APEAJ Pk`hk@ucturac @kiiujhty.


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5

reserve pkkchjl tmrkulm tme iucthcaterachzed @mhajl Iah Hjhthathve (@IHI)7 ajdsurvehccajè tmrkulm APEAJ+0 Ia`rke`kjkih` Resear`m Knnhè (AIRK).

APEAJs tmreats. Vkchthàcseùrhty `kjnch`ts hj Ashaj relhkj arhshjl nrkiujreskcved hjtra- ajd extra-relhkjac terrhtkrhac dhsputes7 vucjerabhchty kn expkrt-

depejdejt e`kjkihes tk exterjac smk`gs nrki UP ajd Eurkpe7 rhse kn tme VR@ajd Hjdha kversmadkw APEAJ recevajè7 ca`g kn enne`thve relhkjac `kkperathkj kj`chiate `majle, water-ejerly-nkkd seùrhty, ajd dhsaster iajaleiejt (drkulmt,nckkds, eartmquages, vkcàjh` erupthkjs).

2. APEAJ E@KJKIH@ HJTELRATHKJ HJ TME 18=6P1886P

Tme e`kjkih` chterature chsts severac bejenhts kn e`kjkih` hjtelrathkj2

2.1 Na`tkrs Vusmhjl kr Hipedhjl APEAJ E`kjkih` Hjtelrathkj

, hj`cudhjl ajejcarled iarget whtm e`kjkihes kn sàce ajd s`kpe, hiprkved reskurè acckàthkj whtm

nree ikveiejt kn na`tkrs kn prkdu`thkj, hiprkved reskurè pkkcs whtm hjnckws kn àphtac,hjvestiejt ajd cabkr, ajd hj`reased `kipeththkj ceadhjl tk hiprkved ennh`hej`y ajdhjjkvathkj.

E`kjkih` hjtelrathkj hj APEAJ, as ecsewmere, mas bktm pkchthàc ajd e`kjkih`kboe`thves.

Lekpkchthàc na`tkrs navkrhjl relhkjac `kkperathkj. Tme pkchthàcseùrhty ejvhrkjiejthj Pkutmeast Asha hj tme 18>6s ajd 18


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>

Hjhthac e`kjkih` dhvershty aj hipedhiejt tk relhkjac hjtelrathkj. As smkwj hj Tabce1, APEAJ ieibers smkw whde dhvershty hj cajd ajd pkpucathkj shze, cevec kn e`kjkih`deveckpiejt ajd per àphta hj`kie, ajd kpejjess tk hjterjathkjac trade ajd hjvestiejt.Tmhs dhvershty lave rhse tk dhnnerhjl perèpthkjs kn bejenhts ajd `ksts kn e`kjkih`hjtelrathkj. Carler e`kjkihes (parthùcarcy Hjdkjesha) nect cess jeed tk a`mheve e`kjkiheskn sàce tmrkulm trade kpejjess, wmhce perèhvhjl tmat tme ikre `kipeththve siaccerAPEAJ e`kjkihes (parth ucarcy Phjlapkre) wkucd lahj ikre whtm nree ejtry hjtk ajhjtelrated relhkjac iarget.

Tabce 1? APEAJDhnnerejès hj Phze, Cevec kn Deveckpiejt, ajd Tradeajd NDH Depejdejè, 2611

APEAJ 9 Assk hathkj kn Pkutmeast Ashaj Jathkjs7 NDH 9 nkrehlj dhre t hjvestiejt7 LDV 9 lrkss dkiesthprkdu`t7 VVV 9 pur`mashjl pkwer parhty.Pkurè? @kiphced nrki APEAJ (2610) ajd UJ@TAD (2612).

Hjhthac shihcar prkdu`thkj ajd expkrt stru`tures aj hipedhiejt tk relhkjachjtelrathkj.

E`kjkihes tmat are `kipceiejtary at tme kutset kn e`kjkih` hjtelrathkj naè cessreshstajè shjè tmere wkucd be chihted `kipeththkj aikjl tmei, wmhce e`kjkihes tmatare hj `kipeththkj at tme kutset wkucd naè ikre reshstajè, as e`kjkih` restru`turhjlwkucd be pahjnuc. Mkwever, tme lahjs nrki e`kjkih` hjtelrathkj wkucd acsk be carler whtmhiprkved e`kjkih` ennh`hej`y nrki renkris ajd reskurè reacckàthkjs. Chgewhse,e`kjkihes tmat are acready kpej ajd lckbachzed whcc bejenht cess nrki e`kjkih`hjtelrathkj wmhce e`kjkihes tmat are `cksed whcc naè pahjnuc adoustiejts nrki trade ajdhjvestiejt chberachzathkj but whcc ejoky ennh`hej`y lahjs.

Hjhthaccy tmere was chihted trade aikjl tme Pkutmeast Ashaj `kujtrhes (exèpt whtmPhjlapkre wmh`m nuj`thkjs as tme relhkjac ejtrept), shjè tmey expkrted shihcar jaturacreskurè prkdu`ts (su`m as rubber, paci khc, ajd ietacs) due tk shihcar jaturacejdkwiejts ajd cabkr-hjtejshve iajuna`tures due tk shihcar ckw te`mjkcklhàc àpabhchty.Mejè tmey `kipeted whtm ea`m ktmer nkr iargets hj tme deveckped `kujtrhes. \htm tmerhse kn prkdu`thkj jetwkrgs hj tme relhkj shjè tme cate 18=6s ajd `kjsequejt raphdlrkwtm hj hjtra-hjdustry trade hj parts ajd `kipkjejts, e`kjkih` `kipceiejtarhty hjiajuna`tures deveckped aikjl tme APEAJ e`kjkihes.

Vressure tk be `kipeththve whtm trajshthkj tk kutward-ckkghjl deveckpiejtstratelhes. Tme pursuht kn hipkrt substhtuthjl hjdustrhachzathkj nrki tme 18>6s tk tme18=6s by tme APEAJ e`kjkihes (exèpt Phjlapkre wmh`m iahjtahjed a nree trade

relhie beàuse kn hts ejtrept rkce) dhs`kuraled trade ajd hjvestiejt chberachzathkj tk

BrujehDarussacai

Hjdkjesha Iacaysha Vmhchpphjes Phjlapkre Tmahcajd @aibkdhaCakVDR

Iyajiar ^het Jai

Vkpucathkj(ihcchkj)

6.4 20 14.5 >.4 >6.4 =6.4 006.0 066.6 6.< 510.1 1=1.6 20>.= >.> 001.1

LDV($ bhcchkj)

1>.0 =4>.= 2= =6.0


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6 ihcchkj tk attra`thjvestiejts, ajd whtm e`kjkihes kn sàce acsk ced tk a rathkjac acckàthkj kn reskurèsajd hj`reased ennh`hej`y hj prkdu`thkj. Tmese ced tk tme de`hshkj tk estabchsm ANTA,ANAP, ajd AHA hj tme 1886s.

A subsequejt perèhved exterjac tmreat nrki tme e`kjkih` rhse kntme VR@ ajd tk acesser extejt kn Hjdha, ced tk tme de`hshkj tk nkri tme AE@ hj 2660.0 Bktm tme VR@ ajdHjdha are carle `kujtrhes whtm mule dkiesth` iargets, wmhce APEAJ `kiprhses 16siacc nraliejted iargets, ujcess aj APEAJ relhkjac iarget `kucd be deveckped. Ajhjtelrated APEAJ iarget as wecc as hjtelrathkj whtm tme rest kn East Asha ajd beykjd,wkucd ejabce APEAJ tk respkjd ikre enne`thvecy tk bktm tme `maccejles ajdkppkrtujhthes kn tme VR@ ajd Hjdha.4

APEAJ èjtrachty hs tradhthkjaccy preihsed kj APEAJ behjl a jeutrac pcatnkri nkr tmeiaokr pkwers tk ieet sk as tk avkhd tme dkihjajè kn a shjlce pkwer whtmhj tme EastAsha relhkj. Hj tme 1886s, whtm tme rhse kn tme VR@ ajd Hjdha, tme hdea kn APEAJ

èjtrachty tkkg mkcd, whtm tme jkthkj kn aj APEAJ-ced relhkjac ar`mhte`ture hj wmh`m tmerelhkjs e`kjkih` (ajd pkchthàcseùrhty) recathkjs whtm tme whder wkrcd are `kjdu`tedwhtm tme hjterest kn tme APEAJ `kiiujhty hj ihjd.

2.2 Iarget-Drhvej Hjtelrathkj tmrkulm Vrkdu`thkj Jetwkrgs

Hjterjathkjac ajd relhkjac prkdu`thkj jetwkrgs are iarget-drhvej ajd hjvkcve tmebreaghjl up kn prkdu`thkj prkèsses hjtk nraliejted seliejts tmat àj be àrrhed kuthj dhnnerejt `rkss-bkrder ckàthkjs ajd evejtuaccy `kkrdhjated nkr asseibcy hjtk nhjacprkdu`ts. Vrkdu`thkj jetwkrgs iage use kn ea`m ckàthkjs advajtales tk bkkstprkdu`thvhty ajd ùt `ksts, wmhce bkcsterhjl hjvestiejt ajd te`mjkcklhàc trajsner. Tmedeveckpiejt kn prkdu`thkj jetwkrgs mas beej na`hchtated by nree trade alreeiejts

(NTAs) tmat ej`kurale hjward NDH by iucthjathkjac `krpkrathkjs (IJ@s). Na`tkrs hj tmeraphd lrkwtm kn prkdu`thkj jetwkrgs hj East Asha hj`cude tme nkcckwhjl? Nhrst, whderelhkjac dhnnerejès hj wale ajd cabkr prkdu`thvhty cevecs, resucthjl hj dhnnerejt`kipeththve `kst ckàthkjs nkr dhnnerejt parts kn tme vacue `mahj. Pe`kjd, APEAJ`kujtrhes hj`reashjlcy adkpted kutward krhejted deveckpiejt stratelhes resucthjl hj

0APEAJ `kiihsshkjed tme 2660 I`Ghjsey @kipeththvejess Ptudy tmat nkujd tmat APEAJ mad ckst tk tme

VR@ hts `kipeththve edle hj cabkr `ksts ajd preiher ckàthkj nkr nkrehlj dhre`t hjvestiejt.4

As tme VR@ deveckps ajd experhejès rhshjl hj`kies ht prkvhdes a mule iarget nkr APEAJ expkrts kn

lkkds ajd servhès, parthùcarcy nkr jaturac reskurè prkdu`ts ajd tkurhsi. Acsk, as tme VR@experhejès rhshjl wales (parthùcarcy kj tme east `kast) ajd ikves up tme te`mjkckly cadder, ckwer

`kst APEAJ `kujtrhes (hj`cudhjl Hjdkjesha, Vmhchpphjes, Tmahcajd, ajd @CI^) mave be`kie iaokrbejenh`harhes kn NDH sphcckvers.


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=

trade ajd hjvestiejt chberachzathkj ujhcateraccy ajd relhkjaccy ujder tme NTAs. Tmhrd,`rkss-bkrder trade nckws were na`hchtated by hiprkveiejts hj ùstkis adihjhstrathkjajd avahcabhchty kn ennh`hejt trade hjnrastru`ture ajd cklhsth`s tmat resuct hj ckwerprkdu`thkj ajd cklhsth`s `ksts. Vrkdu`thkj jetwkrgs are usuaccy nkujd hj hjdustrhes whtmckjl vacue `mahjs, su`m as ece`trkjh`s ajd ece`trhàc ia`mhjery, autkikthves, ajdtexthces ajd lariejts.

Tme East Ashaj nraliejtathkj kn iajuna`turhjl prkdu`thkj ajd expkrt appears asnkcckws? tme VR@, Oapaj, ajd tme Repubch` kn Gkrea are mkie `kujtrhes nkr prkdu`thkjjetwkrgs, whtm tme VR@ hj`reashjlcy nuj`thkjhjl as tme iaokr asseibcy base (na`tkry kntme wkrcd). Tme APEAJ `kujtrhes kn Iacaysha, Vmhchpphjes, Phjlapkre, ajd Tmahcajdej`kurale hjnckws kn IJ@ hjvestiejts, su`èssnuccy abskrb jew prkdu`thkjte`mjkcklhes ajd deveckp ckàc suppkrthjl hjdustrhes, ajd beàie iaokr expkrters knia`mhjery parts ajd `kipkjejts. Tme su`èss kn tmese APEAJ e`kjkihes ced tk ase`kjd wave kn prkdu`thkj jetwkrgs tk Hjdkjesha ajd @CI^, as tmey are abce tkabskrb tme reckàthkj kn cabkr hjtejshve seliejts ajd ejter hjterjathkjac iargetsrequhrhjl kjcy a chihted rajle kn sghccs.

Tabce 2 smkws tme lrkwtm hj prkdu`thkj jetwkrg trade hj parts ajd `kipkjejts ajdnhjac asseibced prkdu`ts betweej 18821880 ajd 266>266>.1%kn APEAJ expkrts ajd >4.6% kn APEAJ hipkrts, whtm whde varhathkjs aikjl APEAJ`kujtrhes.


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8

Tabce 2? East Asha? Pmare kn Vrkdu`thkj Jetwkrg Iajuna`turhjl Trade,18821880 ajd 266>266< (%)

APEAJ 9 Assk hathkj kn Pkutmeast Ashaj Jathkjs7 VR@ 9 Vekpces Repubch` kn @mhja.Pkur`e? Atmugkraca (2616).

ADB (266266 2>.2 51.= >6.0

Oapaj 20.8 04.4 44.5 02.> >=.4 >5.=

Gkrea, Rep. kn 1=.1 44.2 22.2 25.4 46.0 >8.5

APEAJ 22.< 44.2 04.1 21.8 5>.= >>.1

Hjdkjesha 0.= 21.5 5.> 1>.= 8.0 0=.4

Iacaysha 2 46.< 25.1 >=.4 .5 10.5 46.> >2.1

Tahpeh,@mhja 28.5 0=.8 1=.6 1>.= 4 1.6 4.1 54.4 >4..6

Hjdkjesha 2.1 0.< >1.0 15.6 16.4 21.8 11.= .1 15.> 12.4 4>.2 4=.5

^het Jai 18.1 8.< 2=.=


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16

na`hchtathkj prklrais mave acsk resucted hj tme spread kn prkdu`thkj jetwkrgs nrki tmeikre deveckped APEAJ `kujtrhes tk tme cess deveckped @CI^.

2.0 NTA Drhvej E`kjkih` Hjtelrathkj hj tme 1886s

ANTA ejtahcs hjtra-APEAJ tarhnn chberachzathkj ajd echihjathkj ujder tme @kiikjEnne`thve Vrenerejthac Tarhnn (@EVT) s`meie. A ùstkis ujhkj whtm `kiikj exterjactarhnns was ruced kut hj vhew kn tme iarged dhnnerejès hj ikst navkred jathkj (INJ) tarhnncevecs aikjl APEAJ e`kjkihes, parthùcarcy betweej Phjlapkre ajd tme rest. Hjhthaccy,tarhnns were tk be brkulmt dkwj tk tme 6-5% rajle whtmhj 15 years. >

Hj 188> tme APEAJ Hjdustrhac @kkperathkj (AH@K) s`meie was hjtrkduèd tk prkikteokhjt iajuna turhjl betweej APEAJ-based `kipajhes.

Nkcckwhjl kje`kjkih` hjtelrathkj trejds ecsewmere, wmere nree trade hj lkkds was a``kipajhed bynree trade hj servhès ajd hjvestiejt chberachzathkj, ANTA was`kipceiejted by tme 1885ANAP ajd tme 188= AHA alreeiejt. Tme hipceiejtathkj kn ANTA, ANAP, ajd AHA aredhsùssed hj cater se`thkjs.

< Tme s`meie requhres tmeparth`hpathkj kn at ceast twk `kipajhes hj twk APEAJ `kujtrhes ajd at ceast 06% jathkjacequhty.=

0. TME AE@RATHKJACE, VRKLREPP, AJDPMKRTNACCP

AH@K prkdu`ts ejoky hiiedhate ANTA ejd-tarhnn rates kn 6-5% as wecc as ckàc`kjtejt a``redhtathkj ajd hjvestiejt hjèjthves knnered by APEAJ jathkjac autmkrhthes.AH@K mas su`èssnuccy prkikted prkdu`thkj jetwkrgs hj autkikthve ajd ece`trkjh`shjdustrhes.

Ckrei hpsui dkckr sht aiet, `kjse`tetur adhphsh`hjl echt, sed dk ehusikd teipkr

hj`hdhdujt ut cabkre et dkckre ialja achqua. Ut ejhi ad ihjhi vejhai, quhs jkstrudexer`htathkj uccai`k cabkrhs jhsh ut achquhp ex ea `kiikdk `kjsequat. Duhs aute hruredkckr hj repremejderht hj vkcuptate vecht esse `hccui dkckre eu nulhat jucca parhatur.Exèpteur shjt k`àeàt ùphdatat jkj prkhdejt, sujt hj ùcpa quh knnh`ha deserujt ikcchtajhi hd est cabkrui.

0.1 Rathkjace ajd Vrkèss Tkwards AE@

Hj K`tkber 2660, APEAJ de`hded tk estabchsm tme AE@ by 2626 but advajè ht tk 2615hj Oajuary 266< (whtm a ckjler thie chje kn 261=2626 nkr @CI^). Tme AE@ hs a mhlmcyaibhthkus ennkrt at deep hjtelrathkj wmh`m hj`cudes na`tkrs kn prkdu`thkj as wecc as a

dhspute settceiejt ie`majhsi. Ht draws kj tme 188< APEAJ ^hshkj 2626

8

ajd tmere`kiiejdathkjs kn tme APEAJ Mhlm Cevec Tasg Nkrè. 16

>

Tme @EVT s`meie nkr ANTA was alreed nkr hipceiejtathkj whtmkut tme exmausthve neashbhchty studhesajd pubch` debate tmat `mara`terhzed tme nkriathkj kn JANTA, ajd wmhce tme JANTA dkùiejt`kjtahjed acikst 466 pales, tme ANTA dkùiejt `kjtahjed kjcy shx pales.

Hj Jkveiber 2664 tme

.2

Iacaysha 2. 0.2

Phjlapkre 2.> 15.1 1.> 8. 12.2 6.> 4.8@aibkdha 6.0 6.> 2.< >.0

Cak VDR 6.6 6.2 6.> 0.>

Iyajiar 6.6 6.> 6.0 4.4

^het Jai 6.8 2.4 1.1 2.=

APEAJ tktac 16.1 >8.4 6.= 5.0AE@ 9 APEAJ E kjkih` @kiiujhty7 ANTA 9 APEAJ Nree Trade Area7 APEAJ 9 Assk hathkj kn PkutmeastAshaj Jathkjs7 LDV 9 lrkss dkiesth` prkdu`t7 Cak VDR 9 Cak Vekpces Deik`rath` Repubch`.Pkurè? Vcuiier ajd @mha (2668).

Acc APEAJ `kujtrhes bejenht, actmkulm skie bejenht ikre tmaj ktmers, ehtmer abskcutecykr recathve tk LDV shze. Pe`kjd, tk esthiate tme dhre`t enne`ts kn bemhjd-tme-bkrderieasures ajd best pra`thès spread by ieajs kn AE@, tme prkoe`thkjs sullest tmat

`kipeththkj pkch`y ackje `kucd rahse per àphta LDV by 2>0=% hj APEAJ>. Ajd by`reathjl kppkrtujhthes nkr prkdu`thkj jetwkrgs ajd spreadhjl best pra`thès tmat bkkstprkdu`thvhty, AE@ smkucd mecp @CI^ `kjverle whtm APEAJ>. Tmhrd, tme jet bejenhts kn tmeAE@ wkucd be carler tmaj tme esthiated 5.0% hj`rease hj APEAJ e`kjkih` wecnare, duetk lahjs tmat mave jkt beej quajthnhed by tme @LE ikdec. Tmese hj`cude ckwer `kst knàphtac due tk nreer ikveiejt kn àphtac ajd hiprkved nhjaj`hac systeis7 ennh`hej`y lahjsnrki nreer ikveiejt kn sghcced cabkr7 ajd lreater ia`rke`kjkih` stabhchty due tk tme`kjservathve ia`rke`kjkih` pkch`hes jeèssary tk suppkrt tme AE@.

Aj acterjathve shiucathkj by ERHA (2612)10

12

Eiphrhàc studhes esthiathjl tme enne`ts kn NTAs usuaccy nkùsed kj tarhnn chberachzathkj as ht hs tme eashest

trade barrher tk hdejthny. Mkwever, tme AE@ acsk hj`cudes chberachzathkj kn jkj-tarhnn barrhers ajd bemhjd-tme-bkrder ieasures anne`thjl lkkds trade, as wecc as chberachzathkj kn servhès trade ajd hjvestiejt.

assuies acc tarhnns are echihjated, tmere hs a26% hj tarhnn equhvacejt kn servhè trade barrhers, ajd acsk a 26% redu`thkj hj thie `ksttk expkrt ajd hipkrt (hiprkved trade na`hchtathkj). Tme ùiucathve hipa`t kn tme pkch`y

`majle kj LDV, expkrts, hipkrts recathve tk basechje kver tme 26112615 perhkds asieasured by 2615 smkws tme nkcckwhjl? Nhrst, tme hipa`t kj LDV kn `kipcete tarhnnechihjathkj hs carlecy iarlhjac nkr ikst APEAJ states exèpt @aibkdha ajd tk a cesserextejt ^het Jai ajd Cak VDR, as @EVT tarhnns were acready very ckw hj tme ktmerAPEAJ states. Pe`kjd, tme bhllest ouip hj LDV lrkwtm rates nkr Hjdkjesha, Iacaysha,Vmhchpphjes, Phjlapkre, Tmahcajd ajd ^het Jai are nrki servhè trade chberachzathkj.Tmhrd, redu`thkj hj thie `ksts due tk hiprkved trade na`hchtathkj, hjnrastru`ture, ajdcklhsth`s mas shljhnhàjt pkshthve hipa`t kj LDV, espe`haccy nkr Cak VDR, @aibkdha

10 Tme nucc repkrt mas jkt beej receased by ERHA, due tk skie sejshthvhthes.


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ajd ^het Jai. Nhjaccy, tme @LE ikdec ujderesthiates e`kjkih` enne`ts as ht nahcs tknuccy àpture tme enne`ts kn prkdu`thve ennh`hej`y, te`mjkckly hiprkveiejts, ajd evejpksshbcy tme extejt kn hiprkveiejt hj hjvestkr expe`tathkjs as a resuct kn renkri ennkrtsnkr e`kjkih` hjtelrathkj.

0.0 Tme AE@ Bcueprhjt ajd Vrklress

Tme AE@s nkur phccars ajd `kre eceiejts are smkwj hj Tabce 4. Tme AE@ Bcueprhjt setskut tme ieasures tk be tagej ajd tme s`meduce nkr hipceiejtathkj.

Tabce 4? AE@ BcueprhjtNkur Vhccars ajd @kre Eceiejts

Vhccars @kre EceiejtsA. Phjlce Iarget ajd Vrkdu`thkjBase A1. Nree nckw kn lkkds? 8 stratelh` apprka`mes

A2. Nree nckw kn servhès? 0 stratelh` apprka`mes

A0. Nree nckw kn hjvestiejt? 5 stratelh` apprka`mes

A4. Nreer nckw kn àphtac? < stratelh` apprka`mes

A5. Nree nckw kn sghcced cabkr

A>. Vrhkrhty hjtelrathkj se`tkrs

A. E-`kiierè@. Equhtabce E`kjkih`Deveckpiejt @1. PIE deveckpiejt

@2. Hjhthathve nkr APEAJ HjtelrathkjD. Hjtelrathkj hjtk LckbacE`kjkiy

D1. @kmerejt apprka`m tkward exterjac e`kjkih`recathkjs

D2. Ejmajèd parth`hpathkj hj lckbac suppcy jetwkrgsAE@ 9 APEAJ E`kjkih` @kiiujhty7 APEAJ 9 Assk`hathkj kn Pkutmeast Ashaj Jathkjs7 PIE 9 siacc kriedhui-shzed ejterprhsePkurè? APEAJ Pe`retarhat (266=).

0.0.1 AE@ as shjlce iarget ajd prkdu`thkj base

Tme EU shjlce iarget hs aj area whtm nree ikveiejt kn lkkds, servhès, cabkr ajdàphtac. Mkwever, `rkss bkrder nreedkis are jkt sunnh`hejt tk ejsure nkrehlj suppchersmave a`èss equac tk tmat kn dkiesth` suppchers14

14

Pee Cckyd (266


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14

Hj tme AE@, tme shjlce iarget hs `kiihtted tk nree nckw kn lkkds, servhès, ajd sghccedcabkr ajd nreer nckw kn àphtac nkr prhkrhty se`tkrs by 2616 tk tme extejt neashbce ajdalreeabce tk acc ieiber `kujtrhes ajd a lkac kn jathkjac treatiejt nkr acc servhèse`tkrs hs hj tme Rkadiap nkr Hjtelrathkj kn APEAJ. Kj tme marikjhzathkj knstajdards ajd te`mjhàc relucathkjs, wkrghjl lrkups mave beej estabchsmed hj skieprhkrhty se`tkrs tk hipceiejt stajdard-recated ieasures wmhce steps mave beej tagejtk set up a `kiikj hjtecce`tuac prkperty relhie.

Vrklress hj lkkds trade chberachzathkj. ANTA was hipceiejted hj 1880 ajdsu`èeded by ATHLA (APEAJ Trade hj Lkkds Alreeiejt) hj Iay 2616, tme catter tk`kjskchdate ajd syjerlhze varhkus prkvhshkjs kj trade hj lkkds hjtk a shjlce dkùiejt.ANTAs @kiikj Enne`thve Vrenerejthac Tarhnn (@EVT) s`meie nkr tarhnn redu`thkj mas ajHj`cushkj Chst (HC), Teipkrary Ex`cushkj Chst (TEC), Pejshthve Chst (PC), ajd LejeracEx`cushkj Chst (LEC).Tme TECwkucd be echihjated tmrkulm nhve ajjuac trajsners tk tmeHC, `kipceted by 2666 nkr APEAJ> ajd by 2660 nkr @CI^. Tme PC `kiprhsesujprkèssed alrhùcturac prkdu`ts whtm tarhnn chberachzathkj decayed tk 2616 nkr APEAJ>ajd 2610261< nkr @CI^. Tme LEC periajejtcy ex`cudes èrtahj prkdu`ts nrki

chberachzathkj nkr reaskjs kn jathkjac seùrhty, prkte`thkj kn muiaj, ajhiac kr pcajt chne ajdmeactm, ajd arth`ces kn arthsth`, mhstkrh` ajd ar`maekcklhàc vacue.

Peverac `majles mave beej iade tk tme hjhthac @EVT tarhnn redu`thkj/echihjathkjs`meduce. Nhrst, tme thie nraie tk rea`m tme 65% tarlet was smkrtejed. Pe`kjd, ht wasalreed tk nurtmer reduè tarhnns nrki 65% cevec tk zerk cevec. Tmhrd, nkr prhkrhty se`tkrs,tme tarlet dates nkr echihjathjl tarhnns were advajèd. Tabce 5 smkws tmat nrki Oajuary2616, acc tarhnns nkr @EVT HCs kn APEAJ> mave beej echihjated, represejthjl 88% knAPEAJ tktac tarhnn chjes ajd tme averale tarhnn brkulmt dkwj tk 6.8%. Nkr tme @CI^`kujtrhes, tarhnn cevecs were dkwj tk 65% cevec by 2616 ajd tk be echihjated by 2615.Tme @EVT Hj`cushkj Chst `kverale rajles nrki a mhlm kn 8=.0% nkr @aibkdha tk a ckw kn

Reikvac kn jkj-tarhnn barrhers (JTBs). \htm tme echihjathkj kn ikst tarhnns, JTBseierle as a serhkus trade hipedhiejt. Jkt acc jkj-tarhnn ieasures (JTIs) are JTBs.Tme catter hj`cude hipkrt quktas ajd ajth-duiphjl a`thkjs as wecc as te`mjhàc,

ajd bhcaterac NTAs kn APEAJ `kujtrhes.

15Hj`cushkj chsts nkr ktmer APEAJ `kujtrhes are 8% nkr ^het Jai,85.2% nkr Cak VDR, ajd 8=.0% nkr @aibkdha.

1>APEAJ+1 NTAs mave beej shljed betweej APEAJ ajd tme VR@, Oapaj, Repubch` kn Gkrea, Hjdha ajd

Austracha-Jew _eacajd. Jelkthathkjs are ujderway kj NTAs whtm tme EU ajd tme Lucn @kkperathkj@kuj`hc. Tmere hs jk `kiikj teipcate hj tme varhkus APEAJ+1 NTAs.


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15

adihjhstrathve, meactm, ajd sanety relucathkjs usuaccy hipksed nkr quachty assurajèajd sanety stajdards, but `kucd acsk mave prkte`thkjhst enne`ts. Tme @EVT alreeiejtmad prkvhshkjs nkr echihjathkj kn quajthtathve restrh`thkjs hiiedhatecy upkj appchàthkjkn @EVT `kjèsshkjs nkr tmat prkdu`t ajd pmashjl kut kn acc ktmer JTBs whtmhj nhveyears kn tme ejokyiejt kn su`m `kjèsshkjs. Ht was cater de`hded tmat acc quajthtathverestrh`thkjs ajd JTBs be echihjated belhjjhjl hj Oajuary 188>. Hj reachty, reikvac knJTBs mas beej sckw hj APEAJ, partcy beàuse ht tkkg `kjshderabce thie nkr APEAJ tk`kiphce ajd update hts JTB database.16% kn accHC prkdu`ts exèpt nkrtmkse pmased hj nrkiPC ajd MPC nkr CakVDR ajd Iyajiar

(266=)

Echihjate hipkrt dutheskj >6% kn acc HC prkdu`tsexèpt nkr tmkse pmasedhj nrki PC ajd MPC nkr@aibkdha (2616)

Echihjate hipkrtduthes kj =6% kn accHC prkdu`ts exèpt nkrtmkse pmased hj nrkiPC ajd MPC nkr

APEAJ-> (266(2616)

Echihjate tarhnns kj accprkdu`ts, exèpt nkrtmkse pmased hj nrkitme PC ajd MPC nkr@CI^ 2615 whtmncexhbhchty kj skiesejshthve prkdu`ts uptk 261=

Echihjate hipkrtduthes kj prkdu`ts hjtme VHP nkr APEAJ>(266 (2616)

Reduè tarhnns kj PCprkdu`ts tk 65% nkr^het Jai (2610). Nkrsular, ^het Jai smacc

reduè tarhnns tk 65%by 2616

@kipcete pmase hj knreiahjhjl prkdu`ts hjPC hjtk @EVT P`meieajd reduè tarhnns kj

tmei tk 65% (2615Cak VDR ajdIyajiar, 261 ajd @aibkdha, 2610 nkr ^het Jai, ajd2615 nkr Cak VDR ajd Iyajiar. As whtm servhès chberachzathkj, tme APEAJ ihjus ]nkriuca was hjtrkduèd. Tme LEC `kiprhses hjdustrhes ajd hjvestiejt ieasures

`cksed tk NDH nkr reaskjs kn jathkjac seùrhty, pubch` ikracs, pubch` meactm, ajdejvhrkjiejtac prkte`thkj.

Tme APEAJ @kipremejshve Hjvestiejt Alreeiejt (A@HA) superseded tme AHA, whtmtme addhthkjac neature kn hjvestiejt prkte`thkj. Actmkulm shljed hj 2668 ht was rathnhedkjcy hj Iar`m 2612, due tk decays by Tmahcajd ajd Hjdkjesha. APEAJ `kujtrhes acskdecayed subihsshkj kn tmehr reservathkjs chsts evej tmkulm tmey are requhred tk subihtwhtmhj shx ikjtms anter tmehr shljhjl. Hj parthùcar, tme A@HA knners?

Hjvestiejt chberachzathkj. Nree ajd kpej hjvestiejt by 2615 whtm INJ ajd jathkjactreatiejt nkr hjvestkrs (whtm chihted exèpthkjs)7 reduè ajd/kr reikve restrh`thkjs tkejtry nkr hjvestiejts hj tme prhkrhty hjtelrathkj se`tkrs7 ajd reduè ajd/kr reikverestrh`thve hjvestiejt ieasures ajd ktmer hipedhiejts, hj`cudhjl pernkriajèrequhreiejts. \mhce acc APEAJ `kujtrhes wec`kie NDH, skie `kujtrhes su`m asHjdkjesha ajd Tmahcajd mave ckjl TECs ajd PCs kj rhlmt kn estabchsmiejt ajdjathkjac treatiejt. APEAJ `kujtrhes mave started tk `kjshder aiejdhjl relucatkryrelhies tk suppkrt `majles hj ruces.

Hjvestiejt na`hchtathkj. Tmhs ejtahcs ikre trajsparejt, `kjshstejt, ajd predh`tabcehjvestiejt ruces, relucathkjs, pkch`hes ajd prkèdures7 marikjhze, wmere pksshbce,hjvestiejt pkch`hes tk a`mheve hjdustrhac `kipceiejtathkj ajd e`kjkih` hjtelrathkj7streaichje ajd shipchny prkèdures nkr hjvestiejt appchàthkjs ajd apprkvacs7prkikte dhsseihjathkj kn hjvestiejt hjnkriathkj, ruces, relucathkjs, pkch`hes ajdprkèdures7 strejltmej databases kj hjvestiejt tk na`hchtate pkch`y nkriucathkj7strejltmej `kkrdhjathkj aikjl tme lkverjiejt ihjhstrhes ajd alej`hes `kjèrjed7

ajd `kjsuct whtm APEAJ prhvate se`tkrs tk na`hchtate hjvestiejt ajd hdejthny ajd wkrgtkwards areas kn `kipceiejtathkj.

Hjvestiejt prkte`thkj. Updated a 18=< prkte`thkj alreeiejt tk prkvhde ejmajèdprkte`thkj tk acc hjvestkrs ajd tmehr hjvestiejts7 prkvhshkjs kj tme hjvestkrstatedhspute settceiejt ie`majhsi7 ajd trajsner ajd repatrhathkj kn àphtac, prknhts,dhvhdejds, aikjl ktmers7 prkvhde trajsparejt `kverale kn exprkprhathkj ajd`kipejsathkj, nucc prkte`thkj ajd seùrhty, ajd treatiejt kn `kipejsathkj nkr ckssesresucthjl nrki strhne.

Hjvestiejt prkikthkj. Vrkikte APEAJ as aj hjtelrated hjvestiejt area7 hjtra-

APEAJ hjvestiejts, espe`haccy nrki tme APEAJ> tk @CI^7 lrkwtm ajd deveckpiejt


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21

kn PIEs as wecc as IJ@s7 prkikte hjdustrhac `kipceiejtathkj ajd prkdu`thkjjetwkrgs aikjl IJ@s hj APEAJ7 okhjt hjvestiejt ihsshkjs tmat nkùs kj relhkjac`custers ajd prkdu`thkj jetwkrgs7 ajd aj enne`thve jetwkrg kn bhcaterac alreeiejts kjavkhdajè kn dkubce taxathkj aikjl APEAJ `kujtrhes. APEAJ mas hjtejshnhed ennkrtstmrkulm su`m hjhthathves as tme chjghjl kn hjvestiejt alej`hes webshtes, deveckpiejtajd dhsseihjathkj kn hjvestiejt pubchàthkjs, ajd hjvestiejt rkad smkws ajdseihjars.

Vrklress whtm nreer nckw kn àphtac. Ennkrts tk chberachze ajd hjtelrate tme nhjaj`haciargets tmrkulm hjhthathves su`m as nhjaj`hac servhès chberachzathkj, àphtac iargetdeveckpiejt, ajd àphtac a``kujt chberachzathkj mave beej nurtmer strejltmejed tk suppkrttrade hjtelrathkj. Kj nhjaj`hac servhès chberachzathkj, based kj a jew apprka`m kn pre-alreed ncexhbhchthes, tme shxtm rkujd kn jelkthathkjs was cauj`med hj Iay 2611. Kj àphtaciarget deveckpiejt, ennkrts tk deepej equhthes iargets were strejltmejed ajd jewwkrghjl `kiihttees kj dhspute reskcuthkj ajd ejnkrèiejt, ajd taxathkj wereestabchsmed. Tme iargethjl ajd brajdhjl àipahlj nkr tme APEAJ Ex`majles hjhthathvetmat prkiktes APEAJ as aj asset `cass was cauj`med hj Iay 2611 ajd aj APEAJ Bkjd

Iarget Deveckpiejt P`kreàrd was deveckped. Hj chje whtm tme deveckpiejt kn ckàcùrrej`y bkjd iargets, tme @redht Luarajtee ajd Hjvestiejt Na`hchty (@LHN) wasestabchsmed hj K`tkber 2611, wmhce tme alreeiejt nkr tme APEAJ Hjnrastru`ture Nujd(AHN) was shljed hj Pepteiber 2611. Tme @mhajl Iah Hjhthathve Iucthcaterachzed (@IHI)was nhjachzed hj Deèiber 2668, prkvhdhjl nkr aj ejcarled $126 bhcchkj swaparrajleiejt.

Vrklress whtm nree nckw kn sghcced cabkr.20

Hj Tme AE@ Bcueprhjt, stratelh` a`thkjs kj nree nckw kn sghcced cabkr hj`cude na`hchtathjltme hssuajè kn vhsas ajd eipckyiejt passes, IRAs nkr iaokr prknesshkjac servhès,`kre `kj`krdajè kn servhès sghccs ajd quachnhàthkjs. Ejmajèd `kkperathkj nkr tmeikveiejt kn jaturac perskjs was nhjachzed hj cate 2612.

Na`tkrs drhvhjl sghcced cabkr ikbhchty hjAPEAJ hj`cude carle dhsparhthes hj wales ajd eipckyiejt kppkrtujhthes, leklrapmh`prkxhihty ajd sk`hk-ùcturac-chjluhsth` ejvhrkjiejt, ajd dhsparhthes hj eduàthkjacdeveckpiejts. As ikre APEAJ `kujtrhes ikve up tme te`mjkcklhàc cadder,chberachzhjl trade hj lkkds ajd servhès ajd hj NDH wkucd jkt be ejkulm, ajd a carler

pkkc kn prknesshkjac ajd sghcced cabkr be`kies jeèssary. Ujthc su`m thie wmejdkiesth` eduàthkjac ajd trahjhjl hjsthtuthkjs are abce tk suppcy tme jeèssary mhlmcevec iajpkwer, ajd dkiesth` e`kjkih` lrkwtm hs abce tk abskrb tmhs mhlm ceveciajpkwer, `kujtrhes whcc sthcc mave tk depejd kj nkrehlj tacejt kr expkrt tacejt.Mkwever, evej whtm adequate dkiesth` suppcy tmere hs sthcc jeed nkr nkrehlj tacejt tkprkvhde `kipeththkj, sthiucathkj, ajd syjerly tk hiprkve tme quachty ajd prkdu`thvhty kndkiesth` tacejt. Pkie `kujtrhes chge Phjlapkre, ajd tk a cesser extejt Iacaysha, relardnkrehlj tacejt as aj uplradhjl ajd `kipeththve tkkc ajd mave a`thve pkch`hes tk prkiktetmehr hjnckws. Ikst APEAJ `kujtrhes, mkwever, mave yet tk ikve away nrki prkte`thjldkiesth` prknesshkjacs ajd sghcced wkrgers tmrkulm `kjsthtuthkjac prkvhshkjs, pkch`hes,relucathkjs, ajd pra`thès.

Iutuac Re`kljhthkj Arrajleiejts .IRAs are iaokr hjstruiejts nkr sghcced cabkrikbhchty hj APEAJ. Tmrkulm IRAs, APEAJ `kujtrhes iay re`kljhze tme eduàthkj krexperhejè kbtahjed, requhreiejts iet, ajd chèjshjl kr èrthnhàthkj lrajted by ktmerAPEAJ `kujtrhes. Mkwever, jelkthathjl nkr re`kljhthkj hs a `kipcex ajd thie`kjsuihjl prkèss lhvej tme whde dhnnerejès hj deveckpiejt cevecs ajd eduàthkjacajd prknesshkjac stajdards aikjl APEAJ `kujtrhes ajd tme rkce kn jathkjac

20 Nkr a ikre detahced dhsùsshkj, see @mha (2612).


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prknesshkjac bkdhes. IRAs nkr prknesshkjac quachnhàthkjs mave beej `kipceted hja``kujtaj`y, ejlhjeerhjl, iedh`hje, dejthstry, ajd jurshjl, IRA nraiewkrgs hjar`mhte`ture ajd surveyhjl ajd ktmer IRAs are expe`ted tk be hdejthnhed ajdjelkthated by tme 2615 deadchje.

@mha (2612) jktes tmat enne`thve hipceiejtathkj kn tmese IRAs pkses prkbceis asiarget a`èss (perihsshkj tk wkrg) hs suboe`t tk dkiesth` ruces ajd relucathkjs. Rucesajd relucatkry nraiewkrgs tmat `kjstrahj ajd hipede sghcced cabkr ikbhchty hj`cuderequhreiejts ajd prkèdures nkr eipckyiejt vhsas ajd eipckyiejt passes,`kjsthtuthkjac ajd celac prkvhshkjs reservhjl okbs nkr jathkjacs, pkch`hes tmat hipksejuierhàc àps kj nkrehlj prknesshkjacs ajd sghccs hj se`tkrs ajd k`ùpathkjs,e`kjkih` ajd cabkr iarget tests tmat `kjstrahj eipckyiejt kn nkrehljers ajd requhretmei tk be repcaèd by ckàcs whtmhj a sthpucated perhkd, cajluale prknh`hej`yrequhreiejts, ajd chèjshjl relucathkjs kn prknesshkjac bkdhes. Jathkjac sejshthvhthes tktme ihlrathkj hssue mave prevejted iu`m enne`thve `kkperathkj tk date.

0.0.2 AE@ as a kipeththve e`kjkih` relhkj

Tmhs AE@ phccar mas severac bemhjd-tme-bkrder a`thkj areas tk rehjnkrè APEAJ`kipeththvejess. Tmese `kver?

@kipeththkj Vkch`y. Peverac hjhthathves mave beej ujdertagej, hj`cudhjl tme nkriathkj knaj APEAJ Experts Lrkup kj @kipeththkj, APEAJ Relhkjac Luhdechjes kj @kipeththkjVkch`y, ajd a Majdbkkg kj @kipeththkj Vkch`y ajd Caws hj APEAJ nkr Bushjess. Tmeluhdechjes prkvhde a renerejè kj `kujtry experhejès ajd best pra`thès at tmehjterjathkjac cevec, wmhce tme majdbkkg prkvhdes bash` jkthkjs kn substajthve ajdprkèdurac `kipeththkj caw appchàbce hj APEAJ `kujtrhes.

Hjtecce`tuac Vrkperty Rhlmts (HVR). Tme APEAJ `kujtrhes pkshthkj hs prhiarhcy tmat kndeveckphjl `kujtry users, actmkulm Phjlapkre mas shljhnhàjt hjterest hj hjtecce`tuacprkperty (HV) prkte`thkj nkr hts mhlm te`m ajd bhkiedhàc se`tkrs, wmhce ktmer APEAJ`kujtrhes are `kjèrjed whtm tme prkte`thkj kn tmehr tradhthkjac ajd hjdhlejkus ùctures,iedh`hjes, ajd pcajts. Tme deveckpiejt kn HV ajd HVR hs `ru`hac tk buhcd APEAJ as ajhjjkvathve ajd `kipeththve e`kjkih` relhkj. Mejè hj Aulust 2611, APEAJ ejdkrsed htsHVR A`thkj Vcaj 26112615. APEAJ acsk `kccabkrated whtm Dhacklue Vartjers ajdhjterjathkjac krlajhzathkjs tk ejmajè àpa`hty buhcdhjl hj HV. @kjnch`ts kn hjterest aikjlAPEAJ `kujtrhes are rare ajd tme iahj `kjnch`ts are ejnkr hjl tme HVR kn deveckped`kujtrhes ajd nkrehlj IJ@s hj relard tk iajuna`tured brajded prkdu`ts, patejtediedh`hjes, hjnkriathkj te`mjkckly (HT) skntware, ajd kjchje iush` ajd ikvhes.

Hjnrastru`ture Deveckpiejt. Trajspkrtathkj ajd HT hjnrastru`ture are essejthac nkr tmeikveiejt kn lkkds, àphtac, cabkr, pekpce, ajd hdeas aikjl APEAJ `kujtrhes. Tme

Brujeh A`thkj Vcaj adkpted hj 2616 `kjtahjs stratelh` a`thkjs tk be hipceiejted hj 26112615 tkward tme reachzathkj kn AE@ as wecc as jew prhkrhthes ujder tme Iaster Vcaj kjAPEAJ @kjje thvhty. Tme shljhjl kn tme APEAJ Iucthcaterac Alreeiejt kj tme NuccChberachzathkj kn Vassejler Ahr Pervhès ajd hts prktk`kc prkvhded a nraiewkrg nkr tme nuccreachzathkj kn APEAJ Kpej Pghes. Tk na`hchtate APEAJ smhpphjl servhès, tme PtratelyTkward tme Hjtelrathkj kn aj APEAJ Phjlce Pmhpphjl Iarget was deveckped. Tmestk`gtaghjl kn rkad hjvejtkry kn acc jathkjac rkute `kipkjejts kn tme APEAJ MhlmwayJetwkrg tk strejltmej tme APEAJ relhkjac hjnrastru`ture was `kipceted Tme APEAJ H@TIaster Vcaj 2615 was adkpted hj Oajuary 2611,ajd a study kj tme adkpthkj kn ajAPEAJ Te`mjh ac Ar`mhte ture Nraiewkrg nkr e-`kiierè hjterkperabhchty was`kipceted. Tme APEAJ Vcaj kn A`thkj kj Ejerly @kkperathkj (AVAE@) 26162615`kjshsts kn sevej gey areas kn `kkperathkj tk ejmajè ejerly seùrhty, a`èsshbhchty, ajdsustahjabhchty nkr APEAJ? APEAJ Vkwer Lrhd, Trajs-APEAJ Las Vhpechje, @kac ajd


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Hjdkjesha, Iacaysha, Phjlapkre, ajd Tmahcajd, whtm Phjlapkre ackje a``kujthjl nkr04.4%.

Tabce


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Tabce =? Hjtra-APEAJ Trade at MP 2-dhlht, 2611

Hjtra-APEAJ Hjtra-APEAJ

MP 2-dhlht Expkrts Hipkrts Tktac Expkrts Hipkrts Tktac

$ ihcchkj % dhstrhbuthkj6165 Ajhiac & ajhiac prkdu`ts 2=6=.< 24>2.8 52 6.8 6.8 6.8

6>15 ^eletabce prkdu`ts 15286.5 1226>.= 224 Nkkdstunns 101=>.6 =>>4.< 21=56.< 4.6 0.2 0. >.6 5.> 5.=

0846 Vcasth`s & rubbers 24484.> 151>0.> 08>5=.2 >.>4140 Raw mhdes, sghjs, ceatmer,nurs >00.= 565.6 110=.= 6.2 6.2 6.2

4448 \kkd ajd wkkd prkdu`ts 56>=.4 11=> 1.= 2.2 2.6

56>6 Texthces 0520.6 2204.0 1.1 1.6 1.6

>1>0 Apparec 101>.6 1145.> 24>1.> 6.4 6.4 6.4

>4>< Nkktwear ajd meadlear 588.1 4>2.5 16>1.> 6.2 6.2 6.2

>=55.6 >220.6 11=.5 2 >8.1 10.6 16.6 11. 1=.=8 Trajspkrtathkj 1 5.5 5.2 5.0

8682 Vre`hshkj hjstruiejts >>=8.1 40>4.> 11650.< 2.6 1.> 1.=

808< Ihs`eccajekus 2612.0 154>.2 055=.5 6.> 6.> 6.>

8=88 Ktmers 20>4.8 884.< 0058.> 6.< 6.4 6.>

TKTAC 02


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2 1885266>

$ ihcchkj % dhstrhbuthkjBrujeh

Darussacai 011 21 0< 25 18 16 1404 0.>Hjdkjesha >68 100< 0=4 02 ==0 1524 4285 16. 125 48 11 110= 8458 20.5

Tmahcajd 1>1 1220 > 2 2=22 86 24.2

@aibkdha 6 8 26 02 128 15> 0=0 6.8

Cak VDR < = 0 = < 11 2=< 6.5 1=2 02=> =.2

APEAJ16 4>54 0>04 2062 2400 05 >242 4601> 166.6APEAJ 9 Assk hathkj kn Pkutmeast Ashaj Jathkjs7 NDH 9 nkrehlj dhre t hjvestiejt7 Cak VDR 9 Cak VekpcesDeik`rath` Repubch`.Pkurè? @mha (2611).

Hipceiejtathkj Hssues kn ANTA, ANAP, ajd AHA. Tme Ihd-Teri Revhew kn tme MajkhVcaj kn A`thkj mhlmchlmted tme nkcckwhjl hipceiejtathkj prkbceis. Nhrst, weag`kiihtiejts tk skie kn tme de`hshkjs tk prkikte chberachzathkj ajd `kkperathkjprklrais, pksshbcy due tk pkkr awarejess kn tme bejenhts kn chberachzathkj whtmhjadequate kr cate subihsshkj kn jeèssary hjnkriathkj. \eag `kiihtiejt was acskrence`ted hj tme ckw cevec kn represejtathkj at jelkthathkjs ajd ieethjls, resucthjl hj

2), a nkrier APEAJ Pe`retary-Lejerac, àjdhdcy assessed tme reaskjswmere APEAJ mad naccej smkrt kj hipceiejtathkj. Nhrst, a nujdaiejtac prkbcei hs tmatikst APEAJ lkverjiejts dk jkt neec a sunnh`hejt hdejthnhàthkj kn tme jathkjac hjterestwhtm relhkjac e`kjkih` hjtelrathkj ajd ikst APEAJ nhris dk jkt see mkw tmehrbushjesses bejenht nrki su`m hjtelrathkj. Ikst jathkjac lkverjiejts ajd nhris pcaèikre vacue kj extra-APEAJ iargets, ajd jathkjac lkverjiejts neec jk pressure nrkitmehr bushjess se`tkrs tk ikve naster kj relhkjac e`kjkih` hjtelrathkj. Pe`kjd, JTBsare carlecy kpaque ajd mard tk hdejthny ajd evej ikre dhnnhùct tk reikve. Ptreaichjhjl

ùstkis kperathkjs ajd `kkrdhjathjl tmei relhkjaccy iay requhre tme kvermauc kn ejthreùctures at skie jathkjac ùstkis autmkrhthes. Relucatkry bkdhes iay mave tk lhve upa ieasure kn tmehr autmkrhty hj krder tk marikjhze prkdu`t stajdards whtm ktmer APEAJ`kujtrhes ajd lhve re`kljhthkj tk tmkse `kujtrhes èrthnhàtes kn `kipchajè whtmrelucathkjs. Lkverjiejts whcc mave tk ejsure tmat nhris adoust tk APEAJ jkris ajdabajdkj tme stajdards tmat tmey mave admered tk nkr years. Tmhrd, servhès are evejikre sejshthve tmaj trade hj lkkds. Chberachzhjl trajspkrtathkj servhès wkucd expksetk lreater `kipeththkj jathkjac ahrchjes, smhpphjl chjes, ajd cajd trajspkrt `kipajhes,iajy kn wmh`m are state-kwjed kr `rkjy-kwjed ajd used tk state prkte`thkj. Trajs-bkujdary trajspkrt arrajleiejts àj acsk be mecd mkstale tk pkchthàc dhsputes krpressures. Nkurtm, APEAJ mas jk `kipchajè kr ejnkrèiejt ie`majhsis ajd nahcuretk hipceiejt àrrhes jk saj`thkjs. Tme APEAJ Pe`retarhat mas jk pkwer tk ejnkrèalreeiejts kr tme autmkrhty tk iage trajsparejt tme àses kn jkj-`kipchajè.

0.5 AE@ P`kreàrd nkr 266=2611

Tme AE@ Bcueprhjt prkvhdes a rkadiap whtm a thiechje nkr hipceiejthjl tme jeèssarye`kjkih` ieasures ajd a`thkjs ajd tme APEAJ P`kreàrd was deveckped tk tra`ghipceiejtathkj. Tme hipceiejtathkj rate nkr 266=2611 was >


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At tme jathkjac cevec, acc APEAJ `kujtrhes mave nuccy hipceiejted nreer nckw kn àphtac(exèpt Iyajiar), nree nckw kn sghcced cabkr, prhkrhty hjtelrathkj se`tkrs, `kipeththkjpkch`y, ihjerac, H@T, taxathkj (exèpt @aibkdha), ajd e-`kiierè. Tmey mave acskikre tmaj macn hipceiejted tme nree nckw kn lkkds, servhès ajd hjvestiejts, nkkd-

alrhùcture-nkrestry, `kjsuier prkte`thkj, trajspkrt, ejerly, HAH, ajd exterjace`kjkih` recathkjs. Hj HVR, tme `kipchajè re`krd hs ihxed, whtm nucc hipceiejtathkjby Iacaysha, Vmhchpphjes, Phjlapkre, Tmahcajd ajd ^het Jai. Tme re`krd hs acsk ihxedhj PIE deveckpiejt whtm nucc hipceiejtathkj by Hjdkjesha, Iacaysha, Phjlapkre, ajdTmahcajd.


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Tabce 16? AE@ P`kreàrd

Gey Areas Vmase H (266=2668) Vmase HH (26162611) Tktac Ieasures

Nuccy Jkt nuccy Nuccy Jkt nuccy Nuccy Jkt nuccy

Hipceiejted Hipceiejted Hipceiejted hipceiejted Hipceiejted hipceiejtedPhjlce iarget ajdprkdu`thkj base

Nree nckw kn lkkds 8 6 20 24 02 24

Nree nckw kn servhès 16 0 10 1< 20 26

Nree nckw kn hjvestiejt 5 1 5 = 16 8

Nreer nckw kn àphtac 1 6 5 6 > 6

Nree nckw kn sghcced cabkr . . 1 6 1 6

Vrhkrhty hjtelrathkj se`tkrs 2= 6 1 6 28 6Nkkd, alrh`hùcture, ajdnkrestry = 6 5 > 10 >

Tktac juiber kn ieasures >1 4 50 55 114 58

Hipceiejtathkj rate 80.=% 48.1% >5.8%@kipeththve e`kjkih`relhkj

@kipeththkj pkch`y 2 6 2 6 4 6

@kjsuier prkte`thkj 2 6 5 4 < 4

Hjtecce`tuac prkperty rhlmts . . 4 1 4 1

Trajspkrt 15 16 > = 21 1=

Ejerly 6 6 2 1 2 1

Ihjerac 1 6 < 6 = 6

H@T 2 6 4 6 > 6

Taxathkj . . 6 1 6 1e-`kiierè . . 1 6 1 6

Tktac juiber kn ieasures 22 16 01 15 50 25

Hipceiejtathkj rate >=.>.


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chge jature kn APEAJ ajd tme dkwjpcay kn celachsi aikjl `cub ieibers. Kj tmektmer majd, hn a ikre celachsth` stajè whtm saj`thkjs nkr jkj-`kipchajè mad beejadkpted, tmej APEAJ ceaders wkucd be ikre recu`tajt tk `kiiht tk sk iajychberachzathkj ajd na`hchtathkj ieasures.

4. TME AE@ BX 2615 AJD BEXKJD

Reachzhjl tme AE@ by 2615 `kucd be hjterpreted hj twk ways. Nhrst, ht wkucd ieaj nucchipceiejtathkj kn acc tme a`thkjs ajd ieasures chsted hj tme AE@ Bcueprhjt. Pe`kjd, htwkucd ieaj reachzhjl tme AE@ kboe`thves kn a shjlce iarget ajd prkdu`thkj base, a`kipeththve e`kjkih` relhkj, equhtabce e`kjkih` deveckpiejt, ajd hjtelrathkj hjtk tmelckbac e`kjkiy. Tme s`kreàrd kjcy ikjhtkrs `kipchajè hj hipceiejthjl tme spe`hnhà`thkjs ajd ieasures hjdhàted hj tme AE@ Bcueprhjt. Ht lhves jk hjdhàthkj kn mkw nartme AE@ kboe`thves are behjl reachzed.

4.1 Hipceiejthjl tme AE@ Bcueprhjt by 2615Tme hiiedhate prhkrhty hs tk hiprkve tme hipceiejtathkj kn AE@ Bcueprhjts stratelhà`thkjs sk tmat tme 2615 thiechjes àj be iet as nar as pksshbce. Vrkbceiath` areas areieasures pertahjhjl tk servhès chberachzathkj, trade na`hchtathkj, ajd nree nckw kn sghccedcabkr.2=

Ikjhtkrhjl tme prklress kn tme AE@ smkucd be strejltmejed. Tmere hs a jeed tk

strejltmej tme ikjhtkrhjl àpa`hty kn tme APEAJ Pe`retarhat ajd prkvhde te`mjhàcasshstajè tk ieiber states tk ejmajè tmehr hipceiejtathkj àpa`hty. Lreater prhvatese`tkr needba`g smkucd be ujdertagej tk assess tme hipa`t ajd enne`thvejess kn tmepkch`hes ajd ieasures behjl hipceiejted, sk as tk address tme bushjess hipedhiejts tktme nree nckw kn lkkds, servhès, hjvestiejts, àphtac, ajd sghcced cabkr.

Ht hs `ru`hac tmat ennkrts are hjtejshnhed bktm at relhkjac ajd `kujtry cevecs tk `cksetme hipceiejtathkj laps. As dhsùssed earcher, kbsta`ces tk hipceiejtathkj hj`cudecelhscathve ajd relucatkry chihtathkjs ajd enne`thve `kkrdhjathkj kn hipceiejtathkj a`rkssvarhkus jathkjac ihjhstrhes ajd alej`hes. A better ennkrt jeeds tk be iade tk lahj tmea`èptajè kn celhscatkrs, lkverjiejt knnh`hacs, bushjess ceaders, ajd tme lejerac pubch`kn tme bejenhts kn trade ajd hjvestiejt chberachzathkj ajd kn tme `ksts kn jkj-a`thkj. Hj ajyNTA, tmere are whjjers ajd cksers. \hjjers are bushjesses, hjvestkrs, wkrgers, ajd

`kjsuiers tmat lahj dhre`tcy nrki chberachzathkj ajd hjtelrathkj, wmhce cksers are tmksebushjesses ajd wkrgers tmat naè hjtejshnhed `kipeththkj nrki nkrehlj suppchers, hjvestkrs,ajd prknesshkjacs. Tmere smkucd be lreater ujderstajdhjl kn tme pkchthàc e`kjkiy knNTAs. Vkch`yiagers mave tme tkulm tasg kn iargethjl tme chberachzathkj hdea,`kiihsshkjhjl ajd dhsseihjathjl studhes kj tme bejenhts kn e`kjkih` hjtelrathkj, seeghjl`kjsuctathkjs whtm tme prhvate se`tkr ajd wkrgers tk hdejthny smkrt-teri cksers, ajd nhjdhjlie`majhsis tk `kipejsate cksers tmrkulm nhjaj`hac, te`mjhàc asshstajè tk ejabcenhris tk seeg jew bushjesses ajd wkrgers tk ujdertage trahjhjl nkr jew okbs. PkieAPEAJ `kujtrhes su`m as Phjlapkre mave beej ikre su`èssnuc tmaj ktmers hj a`mhevhjltmhs kboe`thve.

Tmere hs lrkwhjl `kjsejsus tmat ht wkucd jkt be pksshbce tk nuccy hipceiejt tme AE@Bcueprhjt by ejd-2615, parthùcarcy as skie ieasures su`m as tme reikvac kn JTBs ajdhjvestiejt hj hjnrastru ture mave ckjl lestathkj perhkds. Tme hipkrtajt tmhjl hs tk set hjikthkj tme prkèss, evej hn nucc hipceiejtathkj extejds beykjd 2615.

2= Tme AE@ Bcueprhjt Tabce = chsts tme kutstajdhjl ieasures jkt hipceiejted hj tme 266=2611 perhkd.


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Tme Ihd-Teri Revhewkn tme Hipceiejtathkj kn Tme AE@ Bcueprhjt(ERHA 2612)jktestmat tme drhve tkward AE@ 2615 hs acready `kjtrhbuthjl tk a surle hj NDH tk tme APEAJrelhkj, hj part due tk substajthve a`mheveiejts hj AE@ ieasures. Redu`thkj ajdechihjathkj kn tarhnns mas resucted hj a rhse hj APEAJ hipkrt skur`hjl kn hjdhvhduac`kujtrhes ajd a leklrapmh` dhnnushkj beykjd tme earcher PhjlapkreIacaysha trade`kjèjtrathkj. Kj trade na`hchtathkj, tme prhvate se`tkr hj APEAJ mas jkted navkrabcytme hiprkveiejts hj ùstkis ajd hipkrt ajd/kr expkrt `cearajè hj iajy APEAJ`kujtrhes hj reèjt years. Kj hjvestiejt chberachzathkj, `kiihtiejts hj tme lkkdsse`tkr ujder A@HA are reiargabcy chberac hj ikst APEAJ `kujtrhes, ushjl as ayardsth`g a ihjhiui kn


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hjvestiejts nrki jehlmbkrhjl Phjlapkre wmere bushjesses naè rhshjl cajd ajd wale`ksts ajd severe cabkr smkrtales. At tme saie thie, APEAJ `kujtrhes jeed tk redkubceennkrts tk deveckp ckàc PIEs sk tmat tmey àj `kipete whtm tme nkrehlj hjvestkrs ajdsuppchers ajd ejter hjtk okhjt vejtures tk expckht jew bushjess kppkrtujhthes.

Ikbhchty kn APEAJ sghcced prknesshkjacs. Pkie kn tme dkiesth` relucatkry `kjstrahjtskj eipckyiejt kn nkrehljers smkucd be re-exaihjed, hj`cudhjl `kjsthtuthkjac `kjstrahjts.APEAJ prknesshkjac bkdhes smkucd ieet relucarcy tk let better a`quahjted ajd expckre`kiikj vhshkjs ajd ex`majles. Vrknesshkjac eduàthkj ajd trahjhjl at tme jathkjac cevecsmkucd be strejltmejed, hj`cudhjl Ejlchsm cajluale prknh`hej`y, sk tmat wmhce hjvhthjlhjnckws kn nkrehlj prknesshkjacs, ckàc prknesshkjacs whcc acsk chgewhse tk a`èss ktmerAPEAJ iargets.

4.2.2 @kipeththve e`kjkih` relhkj

Tmhs ejtahcs redu`thkj ajd/kr echihjathkj kn varhkus bemhjd-tme-bkrder ieasures tmathipede nree nckw kn lkkds, servhès, hjvestiejt, àphtac, ajd sghcced cabkr ajd jathkjac

treatiejt kn nkrehlj suppchers, hjvestkrs, ajd prknesshkjacs. Tme enne`thve hipceiejtathkjkn `kipeththkj pkch`y wkucd mecp ejsure a cevec pcayhjl nhecd nkr dkiesth` (prhvate ajdstate-kwjed ejterprhses) ajd nkrehlj hjvestkrs. Pk nar tme AE@ mas jk prkvhshkjs nkrkpejhjl up lkverjiejt prkùreiejt, due tk sejshthvhthes hj a juiber kn APEAJ`kujtrhes. Mkwever, kpejhjl up lkverjiejt prkùreiejt hs jkw stajdard hj ikst NTAs,hj`cudhjl tme Trajs-Va`hnh` Vartjersmhp (TVV) alreeiejt tmat skie APEAJ `kujtrhes arejkw jelkthathjla `kiprkihse wkucd be tk alree kj èrtahj tmresmkcds tmat wkucd bekpej tk nkrehlj bhdders. Tme AE@ iay acsk jeed tk adkpt relhkjac ejvhrkjiejtacstajdards hj tme chlmt kn tme hipa`t kn `chiate `majle ajd hjtrkdu`hjl bash` cabkrstajdards tk prkte`t tme ckwcy sghcced. @krrupthkj hs ajth-`kipeththve bemavhkr ajd tmeweagjess hj a juiber kn APEAJ `kujtrhes ajd jeeds tk be `kjtrkcced kj ennh`hej`y ajdequhty, hn jkt ikrac, lrkujds.

4.2.0 Equhtabce e`kjkih` deveckpiejt

Tme AE@ Bcueprhjt stratelh` a`thkjs nkr PIE deveckpiejt ajd Hjhthathves nkr APEAJHjtelrathkj are hjadequate tk jarrkw tme deveckpiejt lap whtmhj ajd betweej `kujtrhes.Vrkikthjl tme a`ècerated ajd equhtabce deveckpiejt kn @CI^ hs tme surest way tkjarrkw tme deveckpiejt lap betweej tmei ajd tme APEAJ>. 28

Tmere mas beej dhsùsshkj hj skie `hr`ces, kn APEAJ adkpthjl tme stru`turac ajd`kmeshkj nujds kn tme EU (nkr exaipce, ADBH 2612). Mkwever, hssues kj tme skurès knsu`m nujdhjl ajd tme chgecy bejenh`harhes mave tk be reskcved. Ujchge tme EU wmere tmebhllest e`kjkihes are acsk tme rh`mest, hj APEAJ tme mhlmest per àphta hj`kies are tmesiacc e`kjkihes kn Phjlapkre ajd Brujeh Darussacai. A strkjler àse àj be iade nkrsu`m a nujd hn tmere hs `kjsejsus kj tme nujdhjl nkriuca, su`m as based kj devhathkj nrki

APEAJ `kucd expckremkw tme APEAJ> àj rejder ikre asshstajè tk @CI (tmat hs ex`cudhjl ^het Jai tmatmas rea`med tme status kn a ckw ihddce-hj`kie `kujtry) tk rea`m ihddce hj`kie status.Asshstajè `kucd hj`cude studyhjl tmehr best pra`thès, ej`kuralhjl hjvestiejt nckws nrkitmehr prhvate se`tkrs, ajd prkvhdhjl ikre te`mjhàc asshstajè hj pubch` se`tkr

iajaleiejt, muiaj reskurè deveckpiejt, urbaj ajd trajspkrt deveckpiejt ajdalrhùcturac deveckpiejt. @CI^ wkucd be iaokr bejenh`harhes kn tme APEAJ @kjje`thvhtyVcaj ajd APEAJ Hjnrastru`ture Nujda`thkjs ajd ieasures ujder tme AshajDeveckpiejt Bajgs Lreater Iegkjl Pubrelhkj (LIP).

28

@urrejt pkchthàc ajd e`kjkih` renkris ujderway hj Iyajiar are attra`thjl carle hjnckws kn NDH ajd whccmeracd a jew era kn mhlm e`kjkih` lrkwtm.


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04

tme wehlmted ieaj per àphta hj`kie kn acc 16 APEAJ `kujtrhes, kr hn nujdhjl hs purecy kja vkcujtary bashs.

4.2.4 Nucc hjtelrathkj hjtk tme lckbac e`kjkiy

Tmhs AE@ s`kreàrd mad a perne`t s`kre nkr hipceiejtathkj kn tmhs nkurtm phccar. APEAJmas a iarget kn >66 ihcchkj pekpce, exèedhjl JANTA ajd tme EU hj pkpucathkj shze butkjcy a nra`thkj kn tmehr e`kjkih` shze. Mejè tme jeed nkr APEAJ tk pra`thè kpejrelhkjachsi ajd whdej hts e`kjkih` jetwkrghjl tmrkulm varhkus APEAJ-whde NTAs,hjtelrate nurtmer hjtk lckbac prkdu`thkj jetwkrgs ajd suppcy `mahjs, ajd pcay a ikrea`thve rkce hj tme \TK.

Hj Jkveiber 2612, APEAJ hjhthated tme Relhkjac @kipremejshve E`kjkih`Vartjersmhp (R@EV) whtm tme shx NTA partjers kn tme VR@, Oapaj, Repubch` kn Gkrea,Hjdha, Austracha ajd Jew _eacajd. Jelkthathkjs belaj hj earcy hj 2610 ajd areexpe`ted tk be `kj`cuded by 2615. Tme R@EV hs aj atteipt tk rehjnkrè APEAJèjtrachty, as tmere hs skie `kjèrj tmat APEAJ èjtrachty wkucd be ujderihjed as tme

e`kjkih` lravhty smhnts tk VR@OapajHjdha. \htm kjcy skie APEAJ ieibers behjlpart kn tme TVV jelkthathkjs, tme R@EV whcc serve tk ujhte APEAJ ujder tme Ashaj-NTAtra`g. \htm APEAJ ujhted ujder tme AE@, ht smkucd be abce tk pursue hts lkacs kj tmehjterjathkjac ajd relhkjac stale iu`m ikre nkrènuccy ajd enne`thvecy.

5. @KJ@CUPHKJ Ikvhjl Beykjd 2615

Hj suiiary, tme AE@ mas `kie a ckjl way, but ht mas naccej smkrt kn tme mhlm stajdardajd thie nraie ht mas set nkr htsecn. \htm tme `kipcethkj kn tme AE@ at ejd-2615, APEAJwkucd mave a`mheved a cevec kn deep e`kjkih` hjtelrathkj jkt `kiikjcy nkujd hj tmedeveckphjl wkrcd. Iu`m reiahjs tk be addressed, ajd skie kn tmese are dhsùssed

beckw.

Aj APEAJ @ustkis Ujhkj;A ùstkis ujhkj (@U) whtm a `kiikj `kiier`hac pkch`ywkucd ejsure a shjlce iarget as lkkds wkucd jkt be suboe`t tk èrthnhàthkj kn ruces knkrhlhj ajd jkj-tarhnn barrhers. Tmere are lkkd reaskjs wmy tmere are very new @Us hj tmelckbac e`kjkiy, as `kipared tk tme prkchnerathkj kn NTAs. Nhrst, `kujtrhes mave tk pkkcskverehljty kver tmehr `kiier`hac pkch`hes, tmus redu`hjl tme jathkjac pkch`y spaè.Pe`kjd, ht hs dhnnhùct tk rea`m alreeiejt kj a `kiikj exterjac tarhnn (@ET) nkr APEAJhj vhew kn tme whde dhspershkj kn tarhnn rates a`rkss APEAJ `kujtrhes, whtm PhjlapkreBrujeh Darussacai mavhjl essejthaccy zerk INJ appched tarhnns ajd @CI^ mavhjlrecathvecy mhlmer tarhnns. \htm hts rkce as aj ejtrept ajd hts meavy depejdejè kj hipkrtsnkr `kjsuipthkj ajd hjputs hjtk prkdu`thkj, a pkshthve @ET wkucd ujderihje Phjlapkres

`kst `kipeththvejess ajd `kst kn chvhjl, as wecc as suboe`thjl ht tk \TK saj`thkjs. Aùstkis ujhkj wkucd be`kie ikre neashbce hn kveracc APEAJs INJ appched tarhnns arereduèd tk zerk kr jear zerk. Mkwever, as `kiier`hac pkch`y `kvers jkt kjcy tarhnns butacsk tme reikvac ajd marikjhzathkj kn JTBs (hj`cudhjl jaturac reskurè subshdhes, ajdprenerejthac treatiejt kn state-kwjed ejterprhses), iajy APEAJ `kujtrhes wkucd nhjd htdhnnhùct tk surrejder jathkjac skverehljty nkr a @U. Bushjesses surveyed are jkt sk iu`m`kjèrjed whtm tarhnns hjmhbhthjl trade ajd hjvestiejt, as whtm kbsta`ces pksed by varhkusJTBs ajd hjsthtuthkjac pra`thès.

Nree ikveiejt kn cabkr ajd àphtac;APEAJ ihlmt `kjshder `kipcethjl tme `kiikjiarget by hj`cudhjl ktmer aspe`ts tmat mave mhtmertk beej ex`cuded nrki tme AE@Bcueprhjt. Nkr exaipce, tme Bcueprhjt kjcy ejvhshkjs tme nree ikveiejt kn sghcced cabkr

ajd tme nreer ikveiejt kn àphtac. Hipceiejthjl nree ikveiejt kn ujsghcced cabkr a`rkss


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05

APEAJ whcc be at ceast as pkchthàccy dhnnhùct as tme reathkj kn a @U, as kujtrhes whtm verycarle pkpucathkjs, mhlm juibers kn ujeipckyed, ajd ckw sghcced wkrgnkrès are acsk tmeckw hj`kie ajd ckw wale `kujtrhes, wmhce mhlm-hj`kie Phjlapkre ajd BrujehDarussacai mave chihted cajd ajd pkpucathkjs ajd wkucd naè severe spathac ajd sk`hac`kjstrahjts. \mat hs ikre pkchthàccy a`èptabce wkucd be enne`thve relhkjac `kkperathkj hjiajalhjl tme carle celac ajd hccelac hjtra-relhkjac nckws kn ckw-sghcced wkrgers. Pu`m`kkperathkj `kucd hj`cude smarhjl hjnkriathkj kj tme deiajd nkr ajd suppcy kn su`mwkrgers, pkch`hjl `kiikj bkrders tk prevejt hccelac nckws ajd muiaj trannh`ghjl, lreatertrajsparej`y kj tme teris kn eipckyiejt nkr ckw-sghcced wkrgers, ajd better prkte`thkj kntme rhlmts kn su`m wkrgers nrki abuse by re`ruhthjl alej`hes hj mkie `kujtrhes ajdpcaèiejt alej`hes ajd ujs`rupuckus eipckyers hj mkst `kujtrhes.

\htm lreater vkcathchty hj lckbac nhjaj`hac iargets hj reèjt years, APEAJ lkverjiejts areujderstajdabcy recu`tajt tk `kiiht tk nree nckw kn àphtac, whtm tme tmreat tk dkiesth`nhjaj`hac vkcathchty. Nurtmer, prkpksacs nkr nhjaj`hac hjtelrathkj mave tagej a ba`g-seat shjètme kutbreag kn tme eurkzkje `rhshs. \mat are prklresshjl are tme APEAJ+0 `kkperathvearrajleiejts kn relhkjac nhjaj`hac survehccajè (AIRK), tme iucthcaterachzed @mhajl Iah

Hjhthathve (@IHI), ajd tme Ashaj Bkjd Iarget Hjhthathve (ABIH).

Ptrejltmejhjl tme APEAJ Pe`retarhat; Tmere mave beej àccs tk ejcarle ajdstrejltmej tme APEAJ Pe`retarhat tk ieet tme lrkwhjl jeeds kn APEAJ as aj e`kjkih`,pkchthàcseùrhty, ajd sk`hkùcturac `kiiujhty. Tmere are twk hssues behjl debated? kjehs tme wkrg s`kpe ajd respkjshbhchty kn tme se`retarhat, ajd tme ktmer hs tme nujdhjl nkr ajejcarled se`retarhat.06

APEAJ ajd tme \TK. Pkie APEAJ ieibers are kn tme vhew tmat relhkjachsi(wmetmer AE@, R@EV, kr TVV) smkucd be seej as stepphjl stkjes tk tme bhller lkac kntrade ajd hjvestiejt chberachzathkj tmrkulm tme \TK. As Phjlapkres Trade ajdHjdustry Ihjhster, Chi Mjl Ghajl kbserved? Evej whtm prklress iade kj R@EV ajd

TVV, tmey smkucd jkt be seej as ejds hj ajd kn tmeisecves. Ratmer su`èss kj tmesenrkjts smkucd be seej as buhcdhjl ikiejtui tkwards a ckjler-teri lkac kn renkrihjltme iucthcaterac tradhjl systei. Kjlkhjl \TK tacgs hj Dkma Rkujd smkucd jkt beabajdkjed kr acckwed tk nacter. Tme \TK reiahjs tme best hjsurajè alahjstprkte`thkjhsi ajd predh`tabhchty nkr traders ajd bushjesses nrki acc `kujtrhes, siacc ajdcarle, deveckped ajd deveckphjl (Chi 2610).

Kj tme e`kjkih` nrkjt, tme APEAJ Pe`retarhat mas tk enne`thvecypernkri, aikjl ktmer tmhjls, tme nuj`thkjs kn `kkrdhjathjl ajd ikjhtkrhjl APEAJe`kjkih` hjtelrathkj as wecc as hjtelrathkj whtm APEAJ+1 NTA partjers. Tme hssue kndecelathkj kn autmkrhty tk a suprajathkjac autmkrhty ieets whtm reshstajè nrki severacAPEAJ lkverjiejts. At tme saie thie, aj ejcarled se`retarhat jeeds ikre nujdhjlreskurès. Tme exhsthjl nkriuca kn equac payiejt by acc 16 APEAJ `kujtrhes hs

ujsustahjabce ajd aj acterjathve nkriuca mas tk be nkujd, whtm skie APEAJ `kujtrhespayhjl ikre tmaj ktmers. Tme nujdhjl nkriuca adkpted by tme @IHI `kucd be ckkged at.Addhthkjaccy, tme ERHA Ihd-Teri Revhew re`kiiejded strejltmejhjl tme se`retarhatsikjhtkrhjl nuj`thkj tmrkulm kutskur`hjl? nhrst, hjtrkduè tmhrd party te`mjhàc reskurè ajdikjhtkrhjl by tme se`retarhat whtm suppkrt nrki relhkjac resear`m hjsthtuthkjs (hj`cudhjlERHA)7 ajd se`kjd, estabchsm a suppceiejtary ikjhtkrhjl systei at relhkjac ajd jathkjaccevecs ajd use aàdeih` ajd bushjess hjshlmts tk suppceiejt tme AE@ P`kreàrd.

Addhthkjaccy, tme \TK mas su`èssnuccy cauj`med hts ahd nkr trade hjhthathve. APEAJ`kucd appcy nkr te`mjhàc asshstajè tk hipceiejt hts àpa`hty buhcdhjl prklrais, su`mas tme deveckpiejt kn hts PIEs.

06

@rhth`s usuaccy pkhjt tk tme mule bureau`ra`y ajd budlet kn tme Eurkpeaj @kiihsshkj as bad cesskjskn suprajathkjachty.


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Peverhjk, R. @. 266>. Pkutmeast Asha hj Pear`m kn aj APEAJ @kiiujhty? Hjshlmtsnrki tme Nkrier APEAJ Pe`retary-Lejerac. Phjlapkre? Hjsthtute kn PkutmeastAshaj Ptudhes.

UJ@TAD. 2612. \krcd Hjvestiejt Repkrt 2612. Lejeva? Ujhted Jathkjs @kjnerej`e

kj Trade ajd Deveckpiejt.^k, T. T. 2612. Tme Hjhthathve nkr APEAJ Hjtelrathkj? Hs ht Reaccy Enne`thve nkr Jarrkwhjl

tme Deveckpiejt Lap hj APEAJ; Vaper presejted at tme APEAJ Rkujdtabce2612 kj Exaihjhjl tme APEAJ E`kjkih` @kiiujhty P`kre`ard. HPEAP. Iay2612.

\krcd Bajg. 2612. @kjje`thjl tk @kipete? Trade Cklhsth`s hj tme Lckbac E`kjkiy.\asmhjltkj D@? \krcd Bajg.

\krcd Bajg. 2610. Dkhjl Bushjess 2610? Piarter Relucathkjs nkr Piacc ajd Iedhui-Phze Ejterprhses. \asmhjltkj D@? \krcd Bajg.

The ASEAN Economic Community: Progress, Challenges, and Prospects

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