The blueprint for realizing an ASEAN Economic Community (AEC) by 2015 was adopted and signed by ASEAN Leaders in November 2007 in Singapore during their annual Summit Meeting. One of the main objectives of an AEC is to create a single market and production base by ensuring a free flow of goods, services, investment, capital and skilled labor.
The Philippines is one of the signatories in the AEC Blueprint, which means the country, along with other ASEAN Member States (AMS), should be open to zero import duties for ASEAN products and services by 2015. AMS nationals, meanwhile, should be able to work anywhere in the region without a work permit.
The Integration is expected to boost investments, job creation, and incomes in the region. As a Filipino entrepreneur, should you be concerned with the ASEAN Integration? What does it mean to your business?
While the ASEAN Integration is expected to level the playing field among industries in the region, it is also expected that Philippine firms should brace for an intense competition with their ASEAN counterparts. An intense competition will therefore raise the bar for innovation, quality and productivity, which will enable businesses to compete head on with other players.
This is bad news because of our exchange rate most of the asean people from viet, thai and etc will flood into singapore, same as what the romanians and bulgarians did in the UK
We go to their countries is no use as who want to earn in baht or ringgit?