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The ASEAN Economic Community Scorecard: performance measurement for economic integration

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ASEAN

The Association of Southeast Asian Nations (ASEAN) is an economic and political organization established in 1967 by Indonesia, Singapore, Malaysia, Thailand and the Philippines.

Thereon after the association expanded so as to include the countries of Brunei Darussalam, Myanmar, Cambodia, Vietnam and Laos. ASEAN is founded on the principles of economic advancement, social progress and intercultural enlargement in Southeast Asia and the Pacific.

The ASEAN Economic Community is the mechanism in charge of delivering an integrated economic region of Southeast Asia by 2015, while ensuring that AEC initiatives are accurately implemented. The AEC Scorecard was developed as a tool for monitoring and reporting on the progress of AEC measures for economic integration.

The AEC Scorecard provides quantitative and qualitative indicators that track the achievement of milestones according to the AEC Strategic Schedule and serve as a statistical barometer of the ASEAN Economic Community. Monitoring by means of the AEC Scorecard, starts with the definition of the AEC strategic goals, also referred to as, development pillars:

  1. A single market and production base
  2. A highly competitive economic region
  3. A region of equitable economic development
  4. A region that is fully integrated within the global economy

Under each of the four pillars, a performance scorecard is deployed. Within this scorecard, key areas of development are identified, and the implementation rate of measures is monitored. The implementation rate of measures is calculated as the ratio of measures that are fully implemented to total number of measures targeted.

Under the first pillar, implementation of measures is monitored for the free flow of goods, free flow of services and skilled labor, free flow of investment, freer flow of capital, priority integration sectors, food, agriculture and forestry. In terms of results, the AEC Scorecard reveals that 86.7% of measures under Pillar 1 were implemented, while noteworthy accomplishments were identified in the free flow of skilled labor and capital, as well as the integration of priority sectors.

ASEAN

The Competitive Economic Region Scorecard focuses on key development areas such as: competition policy, consumer protection, transport, energy, taxation, and e-commerce. The Scorecard reveals the fact that 67.9% of measures under Pillar II were implemented at the end of 2011, with significant progress being achieved in the areas of competition policy and regional cooperation for equitable resource distribution and economic use.

The Equitable Economic Development Scorecard measures the degree of implementation for measures in two key areas: Small and Medium-Sized Business Development and the Initiative for ASEAN Integration. Under this development pillar, 66.7% of targeted measures was achieved, while implementation of main initiatives in the key areas of development is considered to be on track.

The Scorecard for the AEC Integration into the Global Economy is focused on external economic relations. This Scorecard seems to reveal the best results because of ASEAN Free Trade Agreements with various countries such as: China, Japan, Australia, New Zeeland, India, as well as the Republic of Korea.

The AEC Scorecard concludes with an assessment of the path to achieving the Desired State of Evolution, which is the full implementation of measures for economic development and integration. Human resource development and research development seem to lay the foundations of this process. While the AEC has made significant progress in implementing the core measures for economic integration, improved monitoring for timeline achievement is necessary.

ASEAN

Cascading regional objectives to country level, has revealed the fact that in-country measures not being implemented, has negative impact on regional outcomes. Better alignment of implementation processes and timelines is at hand, as well as better coordination among national agencies. Engagement of the private sector has been identified as an area for improvement, as public and private sector consultation aid the impact and effectiveness of measures being implemented.

Finally, AEC progress monitoring by means of performance scorecards, has revealed that further efforts are necessary for the strengthening of the monitoring process, as target achievement within established timelines is a challenge that has been identified and has to be addressed.

Image sources:

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Comments (7)

  • munirah almalki

    |

    The ASEAN Economic Community is the mechanism in charge of delivering an integrated economic region of Southeast Asia by 2015, while ensuring that AEC initiatives are accurately implemented.
    development pillars:
    A single market and production base
    A highly competitive economic region
    A region of equitable economic development
    A region that is fully integrated within the global economy
    Under each of the four pillars, a performance scorecard is deployed. Within this scorecard, key areas of development are identified, and the implementation rate of measures is monitored

    Finally, AEC progress monitoring by means of performance scorecards, has revealed that further efforts are necessary for the strengthening of the monitoring process, as target achievement within established timelines is a challenge that has been identified and has to be addressed.

    Reply

  • Khalid Nour

    |

    The article is about a balance scorecard for the Association of Southeast Asian Nations (ASEAN), which is an economic and political organization. Scorecard was developed as a tool for monitoring and reporting on the progress of AEC measures for economic integration and it provides both quantitative and qualitative indicators to track the achievement of strategic goals below:
    • A single market and production base: under the first pillar, implementation of measures is monitored.
    • A highly competitive economic region: focused on key development areas such as competition policy, consumer protection, transport, energy, taxation and e-commerce.
    • A region of equitable economic development: measures the degree of implementation for measures in two key areas: Small and Medium-Sized Business Development and the Initiative for ASEAN Integration.
    • A region that is fully integrated within the global economy: focused on external economic relations
    The AEC Scorecard concludes with an assessment of the path to achieving the Desired State of Evolution, which is the full implementation of measures for economic development and integration. Further efforts are necessary for the strengthening of the monitoring process, as target achievement within established timelines is a challenge that has been identified and has to be addressed.

    Reply

  • Iris Daisy De Jesus

    |

    In this article we can see how the ASEAN Association of Southeast Asian Nations, utilizes scorecards monitor and develop their economic sectors. The AEC score card measures economic integration, utilizing both quantitative and qualitative indicators that track their achievements tied to their strategic goals:
    • A single market and production base
    • A highly competitive economic region
    • A region of equitable economic development
    • A region that is fully integrated within the global economy

    Reply

  • Drissa TRAORE

    |

    L’article nous parle de L’Association des nations de l’Asie du Sud-Est (ASEAN) qui est une organisation économique et politique créée en 1967 par l’Indonésie, Singapour, la Malaisie, la Thaïlande, les Philippines, les pays du Brunei Darussalam, du Myanmar, du Cambodge, du Vietnam et du Laos.
    L’ASEAN est fondée sur les principes du progrès économique, du progrès social et de l’élargissement interculturel en Asie du Sud-Est et dans le Pacifique. La Communauté économique de l’ASEAN est le mécanisme chargé de fournir une région économique intégrée de l’Asie du Sud-Est d’ici 2015, tout en veillant à ce que les initiatives AEC soient correctement mises en œuvre.
    Le suivi au moyen du tableau de bord AEC commence par la définition des objectifs stratégiques de l’AEC, également appelés piliers de développement:
    • Un marché et une base de production uniques,
    • Une région économique hautement compétitive,
    • Une région de développement économique équitable,
    • Une région pleinement intégrée à l’économie mondiale,

    Reply

  • Jorge Roman Torres

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    La Asociación de Naciones del Sudeste Asiático (ASEAN) es una organización económica y política establecida en 1967. La ASEAN basa sus principios del avance económico, el progreso social y la ampliación intercultural en el sudeste asiático y el Pacífico. La Comunidad Económica de ASEAN (AEC) es el mecanismo encargado de lograr una región económica integrada del sudeste asiático para 2015.
    El AEC “Scorecard” proporciona indicadores cuantitativos y cualitativos que rastrean el logro de hitos de acuerdo con el Programa estratégico de AEC y sirven como un barómetro estadístico de la comunidad económica de ASEAN. Los pilares de desarrollo son:
    Un mercado y una base de producción únicos
    Una región económica altamente competitiva
    Una región de desarrollo económico equitativo
    Una región que está completamente integrada en la economía global
    El seguimiento del progreso de la AEC mediante cuadros de mando del desempeño, han revelado que son necesarios más esfuerzos para fortalecer el proceso de seguimiento, ya que el logro de las metas dentro de los plazos establecidos es un desafío que se ha identificado y debe abordarse.

    Reply

  • Samir MohamedAbdelghafar

    |

    The article is about a balance scorecard for The Association of Southeast Asian Nations (ASEAN) is an economic and political organization established in 1967 by Indonesia, Singapore, Malaysia, Thailand and the Philippines.
    The AEC Scorecard provides quantitative and qualitative indicators that track achievement of milestones according to the AEC Strategic Scale and serve as a statistical metric for the Association of Southeast Asian Nations (ASEAN) Economic Community. Monitoring with the AEC scorecard begins with defining the strategic goals of the advanced electronics company, also referred to as development pillars:
    The Competitive Economic Region Scorecard focuses on key development areas such as: competition policy, consumer protection, transport, energy, taxation, and e-commerce. The Scorecard reveals the fact that 67.9% of measures under Pillar II were implemented at the end of 2011, with significant progress being achieved in the areas of competition policy and regional cooperation for equitable resource distribution and economic use.

    Reply

  • Raoum

    |

    Within this scorecard, key areas of development are identified, and the implementation rate of measures is monitored. The implementation rate of measures is calculated as the ratio of measures that are fully implemented to total number of measures targeted

    Reply

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