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Comparative Study on the Perception and Response of Singapore and Indonesia

Results of SWOT analysis on the Singapore's perception of and response to the formation of the AEC can be diagramed as below. 

According to the papers by Hadi Soesastro and Raymond Atje (p. 72-77.) and Widdi Mugijayani and Pratiwi Kartika (p. 210-212.), Indonesia's major perception of and response to the formation of the AEC can be summarized as below.

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Comparative Study on the Perception and Response of Singapore and Indonesia

Consequently, there is lack of familiarity or limited knowledge of the workings and details of the agreements and their impact on business. Going forward, Singapore will focus on capacity building and human resource development in the ASEAN countries to help them prepare for the 2015 deadline. 

In this respect, Singapore has spent more than US$120 million cumulatively in various initiatives and training programs to help narrow the gaps among ASEAN economies.

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Comparative Study on the Perception and Response of Singapore and Indonesia

The larger players, being more experienced, point out that whilst the ASEAN agreements are being help up as the way forward, delays or non-implementation of signed agreements are too common occurrences. 

A more basic reaction from businesses is tied to the process itself of drawing up the ASEAN economic agreements. An underlying concern is that the agreements are concluded without the involvement of or consultation with the private sector.

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Comparative Study on the Perception and Response of Singapore and Indonesia

While it fully supports efforts taken to accelerate internal integration towards AEC 2015, the ASEAN needs to deepen its engagement with key trading partners in parallel. 

It is significant that SMEs  tend to be in the more optimistic category in relation to regional integration. SME leaders in Singapore have urged fellow companies to expand within the region and to seriously consider investing in ASEAN neighbors for the many benefits that an integrated ASEAN economic community can bring.

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Comparative Study on the Perception and Response of Singapore and Indonesia

Singapore believes that a strong and competitive ASEAN is important in the face of growing challenges posed, not just to the Southeast Asian economy, but the global economy. 

Thus, while Singapore acknowledges that some problems are faced by the ASEAN countries in implementing the AEC Blueprint, there is an urgent need to persevere in order for the region to remain competitive and relevant to the global economy.

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Comparative Study on the Perception and Response of Singapore and Indonesia

According to the papers by Juliana Giam (p. 280-281.) and Ong Keng Yong (p. 132-133.), Singapore's major perception of and response to the formation of the AEC can be summarized as below: 

Singapore remains committed and continues to work closely with the other ASEAN countries to achieve the goals of the AEC as set out in the AEC blueprint. According to the latest AEC Scorecard, Singapore has registered more than 93 percent implementation of the requirements in the AEC Blueprint for the period 2008 to 2009. 

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Comparative Study on the Perception and Response of Singapore and Indonesia

Relied upon the findings from the papers, SWOT analysis can be further applied for both countries. This is to verify internal strengths and weaknesses, as well as external opportunities and threats of Singapore and Indonesia in the time of the AEC. 

Originating from a strategic planning tool in the business area, SWOT analysis will prove itself handy to demonstrate where Singapore and Indonesia are placed.

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Comparative Study on the Perception and Response of Singapore and Indonesia

In other words, the perception of and response to the formation of the AEC in Singapore and Indonesia are intensively discovered in the papers. Accordingly, perspectives of Singapore and Indonesia can be drawn out respectively. 

The 4 papers are 'Deadline 2015: Assessing Indonesia's Progress towards the AEC' by Hadi Soesastro and Raymond Atje, 'Role of the Singapore Private Sector in ASEAN Economic Integration' by Juliana Giam, ASEAN Economic Integration: Perspectives from Singapore' by Ong Keng Yong and 'Perspective of the Indonesian Business Sector on the Regional Integration Process' by Widdi Mugijayani and Pratiwi Kartika.

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Comparative Study on the Perception and Response of Singapore and Indonesia

Though probably considered somewhat outdated, this rare publication still delivers meaningful messages by providing country-specific insights with special highlights on crucial economic roadmaps of the individual members toward the era of AEC. 

This is no exception to Singapore and Indonesia as well. Against this background, 4 papers of the book may seem fairly useful in offering comprehensive view of how well Singapore and Indonesia are prepared in accomplishing the goals of the AEC.