By: Raul V. Abejuela

(With excerpts from a CNA documentary on subject intended to give additional inputs and provide a clearer picture of what ASEAN integration is all about)

The ASEAN Economic Community (AEC) Accord was first discussed in Cebu City during the ASEAN Summit in 2010 and in subsequent summit was planned to be implemented in 2020. However, the deadline was moved to December, 2015 because 2020 was perceived too long and many things would have happened in global affairs by then.

Southeast Asia has a total population of 600 million, roughly the 3rd largest regional population in the world with a combined economy of 2.3 trillion dollars.
A successful economic Integration involving the ten nations of ASEAN, viz.: Singapore, Malaysia, Thailand, Vietnam, Philippines, Indonesia, PDR Laos, Myanmar, Cambodia and Brunei Darussalam would make the region an economic powerhouse.

Also, majority of the region's population is 30 years old and below, hence with available employment opportunities translates to higher consumer spending. Comparatively, China has an older population due to its "one child policy."

Goals:
1. Free trade to counter the market domination of China in the region.
2. Provides better opportunities to skilled workers.

Salient points of an ASEAN integrated economy:
1. No tariff barriers.
2. Free movement of people and capital.
3. Single market and production base.
4. Open skies policy that would improve airline services and will bring in more tourists.

Singapore is the main proponent of the AEC and rightfully so, since it has the capital, the technocrats and the entrepreneurs but lacks adequate land area and skilled workers for expansion at home. Malaysia is tasked to implement the AEC road map on a gradual basis during the transition period which is envisioned for full integration by 2020.

It is expected that hiked remittances of OFWs could be our fallback to keep the economy afloat. AEC will be a boon for our skilled workers and performing artists who have dominated ASEAN's music scene, but our agriculture sector would take the brunt against cheaper selected agricultural products that could threaten its competitiveness and very survival.

Just like the proverbial "two edged sword of Damocles" integration could clear the obstacles on the road towards greater creativity, innovation and productivity or get cut and bleed on the roadside in consequence of our government' slack of preparation,our people being too lackadaisical and our entrepreneurs lacking in aggressiveness and imagination to survive the competition for goods and services.

But they say "no guts no glory" and if we fear change we might deprive ourselves of the opportunities for a new beginning and a better future for all of us.So let's put our act together, gear up and see what AEC will bring come December 2015 and beyond.After all we are resilient as a people where adversity makes us strong and desperation makes us better.