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What the ASEAN Economic Community Will Mean for Businesses

A Look at the Case of Myanmar

image of What the ASEAN Economic Community Will Mean for Businesses
With the ASEAN Economic Community (AEC) coming into effect, the main purpose of this publication is to serve as a resource to businesses, particularly in Myanmar and the other CLMV countries, in navigating the coming changes. The central conclusion of this guidebook is that despite the numerous opportunities the AEC will provide to the private sector, the reality for most CLMV businesses is that they will need to focus, at least initially, primarily on remaining competitive domestically in a more open and regionally integrated environment. This is due to several disadvantages they face in comparison to companies from the more economically powerful countries in the region. This includes underdeveloped domestic and cross-border infrastructure, less competitive human resources, lower quality technology and equipment, and a more challenging business environment.

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The key AEC policies, defined and explained

The ASEAN Economic Community will cover a broad array of policies and will have an impact on all aspects of the economies of the countries of ASEAN. In this section, the major policies that are likely to impact businesses in Myanmar (and other CLMV countries) most directly will be outlined and their main effects will be explained. This section relies heavily on official publications by ASEAN on the ASEAN Economic Community, particularly, the ASEAN Economic Community Blueprint (2008) and the ASEAN Economic Community Factbook (2011).

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