Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(25)

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.

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(30)

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

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. 

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.