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The ASEAN Economic Integration in2015 will be very feasible and helpful to the ASEAN financial markets especially to the members of the ASEAN Exchanges. More specifically, the Philippine Stock Exchanges will be very benefitted due to this forthcoming integration of the trends continue to produce growth in capital returns. If ever no global recession will occur in the coming years then the ASEAN Economic Integration will be successful in developing the ASEAN financial markets. With the other aspects of the integration however, I cannot tell since this paper is just limited to presenting hypothetical analysis on the feasibility of the integration of the ASEAN Financial Markets especially at the Philippine Setting. But the trends for investment in consumer goods and consumer services are also indicating high weighted contributions among the diversified sectors which indicate that the ASEAN Economic Community2015 goal of achieving a single market that is production market that is production based is feasible as well. As for the other goals, only time will tell considering that ASEAN member states are not very open to integrating with the global economy yet since according to reports and trends they are not yet ready
Demand for high and low-skilled workers could increase by about60 percent when ASEAN integration takes effect next year, a joint study by the International Labor Organization (ILO) and Asian Development Bank (ADB) concluded.
“The AEC (ASEAN Economic Community) will have major benefits for the Philippines. However, to maximize these benefits, the government must take decisive actions now, especially in terms of labor and employment as too many workers are still in poor quality jobs,” Sukti Dasgupta, chief of the ILO Regional Economic and Social Analysis Unit, said at the ILO-ADB ASEAN integration forum.
Under the planned regional integration, the AEC will set in motion the creation of a single market spanning the10-nation bloc that includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
The integration would result in a freer flow of goods, services, investment and skilled labor coming from AEC at remarkably lower tariffs.
