Global-Marketing-1.docx - 1 ASEAN ASEAN is a regional organization comprising ten Southeast Asian states which promotes intergovernmental cooperation

Global-Marketing-1.docx - 1 ASEAN ASEAN is a regional...

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1. ASEAN ASEAN is a regional organization comprising ten Southeast Asian states which promotes intergovernmental cooperation and facilitates economic integration amongst its members. Since its formation on August 8, 1967 with the signing of the ASEAN Declaration by Indonesia, Malaysia, the Philippines, Singapore, and Thailand, the organization’s membership has expanded to include Brunei, Cambodia, Laos, Myanmar, and Vietnam. As set out in the ASEAN Declaration, the aims of ASEAN are: 1. To accelerate the economic growth, social progress and cultural development in the region through joint endeavours in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of Southeast Asian Nations 2. To promote active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields; 3. To provide assistance to each other in the form of training and research facilities in the educational, professional, technical and administrative spheres; 4. To collaborate more effectively for the greater utilisation of their agriculture and industries, the expansion of their trade, including the study of the problems of international commodity trade, the improvement of their transportation and communications facilities and the raising of the living standards of their peoples 5. To maintain close and beneficial cooperation with existing international and regional organizations with similar aims and purposes, and explore all avenues for even closer cooperation among themselves. ASEAN's purpose is to form a European Union type of common market. It is working toward free movement of goods and services, investment and capital, as well as skilled labor. It will also create common standards in agriculture and financial services, intellectual property rights, and consumer protection. These are all necessary to attract foreign direct investment and promote growth. ASEAN is working to make regulations and product standards uniform among the nations. The multilateral trade agreements between ASEAN and its neighbors lessen these countries’ need for the World Trade Organization (WTO). Communication among these long-standing enemies in the name of trade means that they realize the preeminent importance of economic prosperity for all.
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2. Characteristics of Emerging market Emerging market also known as emerging economies or developing countries, are nations that are investing in more productive capacity. Leaders of developing countries want to create a better quality of life for their people. Therefore, they are rapidly industrializing and adopting a free market or mixed economy. a) High growth rate: Emerging markets generally enjoy high growth rates which are often perceived as attractive by investors, although some countries usually described as emerging do have even shrinking economies. Emerging markets such as China, which had the fastest growing, and India, the second fastest growing GDP in the world, represented attractive investment opportunities.
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