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ASEAN Prioritises E-Commerce Integration - November 2004
29th November 2004 - At the 10th ASEAN Summit in Vientiane, Laos, the ASEAN leaders have agreed to accelerate the integration of 11 priority sectors, including the e-commerce 'e-ASEAN' initiative, reaffirming ASEAN’s commitment to fast track the integration towards the ASEAN Economic Community (AEC) that ASEAN Leaders agreed to establish by 2020. The AEC is envisaged as a single market and production base with free flow of goods, services, investment, skilled labour and freer flow of capital.
The 11 priority sectors accounted for more than 50% of intra-ASEAN trade in 2003. In value terms, the priority sectors contributed US$48.4 billion and US$43.4 billion of intra-ASEAN exports and imports, respectively, in 2003.
Attached to each protocol is a roadmap to serve as the basis for economic integration of each of the priority sectors. These roadmaps were prepared with active involvement of the private sector. The roadmap includes specific measures that are of direct relevance to each sector, as well as common measures that cut across all priority integration sectors to be implemented with timelines from now on to the year 2010. For example, relevant to e-ASEAN, product standards and technical regulations will be harmonised to reduce the transaction costs of doing business in ASEAN.
Galexia's work on e-commerce legal infrastructure harmonisation forms a vital part of this initiative. Read more about the ASEAN E-Commerce project »