Sign up | Log in



Home  >>   Daily News  >>   Malaysia News  >>Economy  >> Malaysians should not fear AEC 2015, says Mustapa
NEW UPDATES Asean Affairs  22  August 2014  

Malaysians should not fear AEC 2015, says Mustapa

Malaysians should not be worried about the Asean Economic Community 2015 (AEC 2015) as its implementation is more towards benefitting the country and all liberalising measures are not done abruptly.
International Trade and Industry Minister, Datuk Seri Mustapa Mohamed, said the measures undertaken for the aim of a single market and production base had been carried out in the last 10 years.
"Next year is not a big deal really. 2015 is just the semi-completion of the AEC 2015.
"Although Malaysia will assume the chairman role for the community in January 2015, the heavy duties will only start in November next year," he said at the AEC Townhall Session with the media here today.
On advantages, he said, Malaysia was the top beneficiary of the 'open skies' policy given the nature of liberalising the region's air transport industry.
Mustapa said AirAsia, which has staff from all over the region, has been leveraging on this policy and was presently flying all over Asean countries.
The government aimed to push for 90 per cent implementation rate of the measures under the AEC Blueprint from the current over 80 per cent by focusing on three areas -- non-tariff barriers, youth and small and medium enterprises (SMEs).
One of the pillars of the AEC 2015 is free flow of goods whereby member states were to eliminate import duties and remove all forms of non-tariff barriers.
"Todate, Customs import duties have been substantially eliminated and beginning next year, 97.3 per cent of the products traded in the region will be duty-free
"However, Cambodia, Laos, Myanmar and Vietnam are given flexibility to maintain duties between one and five per cent over tariff lines, which will be eliminated in January 2018, as they have only joined the community recently," he said.
Mustapa encouraged local companies, which already have presence in the region, to develop programmes to engage youths in the form of internships that were similar to a student exchange programme.
"This is happening but on a small scale. We need more of these as they are the best way to learn about a country and increase the youths' sense of belonging to Asean," he said.
On SMEs which have growing fear of going bankrupt as a result of the open market, he assured them the AEC would actually create market opportunities for them in Asean member states. (BERNAMA)

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                            August 22, 2014 Subsribe Now !
• Thai alternative bourse's companies post 5.6 pct sales growth in Q2 Subcribe: Asean Affairs Global Magazine
• ASEAN Business Club to convene leaders for AEC
• Malaysians should not fear AEC 2015, says Mustapa
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Thai economic growth may be lower
• VN property market worth $21b
Asean Analysis                    August 20,, 2014

• Asean Analysis August 20, 2014
Using mobile money to increase financial inclusion in RI
Advertise Your Brand

Asean Stock Watch    August  21, 2014
• Asean Stock Watch-August 21, 2014
The Biweekly Update
• The Biweekly Update  August 8, 2014

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand