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Taking Advantage of ASEAN's Free Trade Agreements Taking Advantage of ASEAN’s Free Trade Agreements A GUIDE FOR SMALL AND MEDIUM-SIZED ENTERPRISES By Paige McClanahan, Alexander Chandra, Ruben Hattari and Damon Vis-Dunbar January 2014 ASEAN BAC © 2014 The International Institute for Sustainable Development Published by the International Institute for Sustainable Development. About IISD The International Institute for Sustainable Development (IISD) contributes to sustainable development by advancing policy recommendations on international trade and investment, economic policy, climate change and energy, and management of natural and social capital, as well as the enabling role of communication technologies in these areas. We report on international negotiations and disseminate knowledge gained through collaborative projects, resulting in more rigorous research, capacity building in developing countries, better networks spanning the North and the South, and better global connections among researchers, practitioners, citizens and policy-makers. IISD’s vision is better living for all—sustainably; its mission is to champion innovation, enabling societies to live sustainably. IISD is registered as a charitable organization in Canada and has 501(c)(3) status in the United States. IISD receives core operating support from the Government of Canada, provided through the International Development Research Centre (IDRC), from the Danish Ministry of Foreign Affairs and from the Province of Manitoba. The Institute receives project funding from numerous governments inside and outside Canada, United Nations agencies, foundations and the private sector. HEAD OFFICE 161 Portage Avenue East, 6th Floor, Winnipeg, Manitoba, Canada R3B 0Y4 Tel: +1 (204) 958-7700 | Fax: +1 (204) 958-7710 | Website: www.iisd.org TAKING ADVANTAGE OF ASEAN’S FREE TRADE AGREEMENTS A guide for small and medium-sized enterprises Foreword The U.K. Government is delighted to be working with the ASEAN Business Advisory Council (ASEAN BAC) and the International Institute for Sustainable Development (IISD) on this guidebook for Small and Medium Size Enterprises (SMEs), part of a project funded by our Prosperity Fund program. SMEs are the backbone of Southeast Asian economies, as they are in the United Kingdom. But SMEs often face unique challenges. Helping them overcome these is vital to achieving strong, sustainable, and equitable growth in Southeast Asian countries, just as it is in the U.K. It is vitally important that SMEs look beyond their own borders and take advantage of the increased business opportunities presented by the growing number of bilateral and regional FTAs in Southeast Asia. Similarly, SME engagement in the debate on free trade agreements (FTAs) is essential in terms of building a strong domestic constituency for reform and openness. Our cooperation with ASEAN BAC and IISD is part of the U.K.’s deepening relationship with ASEAN, a key priority for the British government. Our cooperation with the countries of Southeast Asia and ASEAN as a bloc is growing rapidly across the policy spectrum. As a region, ASEAN is also one of the U.K.’s largest and fastest growing export markets. We strongly support the efforts being led by Deputy Secretary General Lim to deepen regional trade and economic integration in Southeast Asia through the ASEAN Economic Community process. As a country with a long-standing commitment to free trade and openness, the U.K. is also working closely with our EU partners to break down barriers to trade between Europe and Southeast Asia. The EU recently initialled an FTA with Singapore, its first in Southeast Asia. Negotiations are currently underway for FTAs with Malaysia, Vietnam and Thailand, a process we hope will soon be launched with Indonesia too. These are stepping stones towards the ultimate goal of a bloc-to- bloc agreement between the EU and ASEAN. We very much hope these agreements will open up new opportunities for Southeast Asian SMEs in Europe, as well as for European SMEs in ASEAN. Finally, we would like to thank our partners at ASEAN BAC and IISD for their hard work on this guidebook and the seminars being held in several countries as part of the project. Hopefully this project will make a significant contribution to raising awareness of FTA issues in the SME community, and to deepening the links between SE Asian SMEs and the UK. Mark Canning British Ambassador to the Republic of Indonesia, the Democratic Republic of Timor-Leste and ASEAN TAKING ADVANTAGE OF ASEAN’S FREE TRADE AGREEMENTS A guide for small and medium-sized enterprises Foreword This is a momentous occasion for ASEAN and its business community as the ASEAN Business Advisory Council (ASEAN BAC), in partnership with the International Institute for Sustainable Development (IISD) and with the support of the U.K. Foreign & Commonwealth Office, present to you Taking Advantage of ASEAN’s Free Trade Agreements: A Guide for Small and Medium-Sized Enterprises. This guidebook is another milestone in realizing the vision of economic integration—one that is timely for businesses around the region. SMEs are challenged by a lack of information that is relevant to business, including how businesses can fully benefit from the trade initiatives already implemented around the ASEAN region. ASEAN has a combined population of approximately 600 million and a GDP exceeding US$2 trillion. The ASEAN region has been projected to grow to US$10 trillion by 2030. ASEAN is also the central driving force of East Asia, one of the fastest growing regions in the world, and one that is creating vast business and investment opportunities. At the end of last year, ASEAN’s growth was an estimated 5.2 per cent, projecting an undeniably strong economic outlook for the ASEAN region. Supported by increased confidence, domestic spending and intra-regional trade, this positive growth will only gain increased momentum. It is interesting to note that whilst more than 90 per cent of businesses in ASEAN are considered small and medium-sized, the rapid growth of ASEAN as an integrated region has not been fully utilized by its SMEs. ASEAN BAC’s commissioned study, The 2011–12 ASEAN BAC Survey on ASEAN Competitiveness, suggests that while financing remained the major barrier to SMEs’ engagement in ASEAN-related arrangement, the problem was compounded by poor communication with SMEs. In addition, the progress of ASEAN’s internal and external economic integration (i.e., ASEAN+1 Free Trade Agreements and various new regional trade agreements) has not been matched with active participation by the region’s SMEs. Supplementary surveys conducted by various national and regional think tanks, such as the Asian Development Bank Institute and Economic Research Institute for ASEAN East Asia, confirm that the utilization rates of ASEAN-led FTAs are generally low across member states. In line with the ASEAN BAC 2013 theme of “Moving Ahead Together,” we hope this guidebook will contribute to raising awareness amongst ASEAN SMEs, helping to strengthen regional economic integration and ensuring that the benefits are shared by businesses of all sizes and levels of development. Fauziah DSP Talib ASEAN Business Advisory Council Chair for 2013 TAKING ADVANTAGE OF ASEAN’S FREE TRADE AGREEMENTS A guide for small and medium-sized enterprises Table of Contents Acronyms and Abbreviations 2 7 Myanmar 41 1 Introduction and Overview 3 7.1 Country Profile 42 1.1 The Purpose of this Guidebook 4 7.2 General Information for Exporters 42 1.2 ASEAN’s Economic Integration Initiatives 4 7.3 Facilities Enabling Export for SMEs 44 1.3 Overview of Agreements 6 7.4 Overview of ASEAN FTAs 44 2 Brunei Darussalam 10 8 The Philippines 47 2.1 Country Profile 11 8.1 Country Profile 48 2.2 General Information for Exporters 11 8.2 General Information for Exporters 49 2.3 Facilities Enabling Export for SMEs 13 8.3 Facilities Enabling Export for SMEs 50 2.4 Overview of ASEAN FTAs 13 8.4 Overview of ASEAN FTAs 51 3 Cambodia 16 9 Singapore 53 3.1 Country Profile 17 9.1 Country Profile 54 3.2 General Information for Exporters 17 9.2 General Information for Exporters 54 3.3 Facilities Enabling Export for SMEs 19 9.3 Facilities Enabling Export for SMEs 55 3.4 Overview of ASEAN FTAs 19 9.4 Overview of ASEAN FTAs 56 4 Indonesia 22 10 Thailand 59 4.1 Country Profile 23 10.1 Country Profile 60 4.2 General Information for Exporters 23 10.2 General Information for Exporters 60 4.3 Facilities Enabling Export for SMEs 24 10.3 Facilities Enabling Export for SMEs 62 4.4 Overview of ASEAN FTAs 25 10.4 Overview of ASEAN FTAs 63 5 Lao People’s Democratic Republic (Lao PDR) 28 11 Vietnam 65 5.1 Country Profile 29 11.1 Country Profile 66 5.2 General Information for Exporters 29 11.2 General Information for Exporters 66 5.3 Facilities Enabling Export for SMEs 31 11.3 Facilities Enabling Export for SMEs 67 5.4 Overview of ASEAN FTAs 31 11.4 Overview of ASEAN FTAs 68 6 Malaysia 34 References 71 6.1 Country Profile 35 Appendix A: Glossary of Terms 74 6.2 General Information for Exporters 35 Appendix B: Calculating Rules of Origin 75 6.3 Facilities Enabling Export for SMEs 36 Acknowledgements 77 6.4 Overview of Agreements 37 TAKING ADVANTAGE OF ASEAN’S FREE TRADE AGREEMENTS A guide for small and medium-sized enterprises p.1 Acronyms and Abbreviations AANZFTA ASEAN-Australia-New Zealand Free Trade Agreement ACTFA ASEAN-China Free Trade Area AFTA ASEAN Free Trade Area AIFTA ASEAN-India Free Trade Area AJCEP ASEAN-Japan Comprehensive Economic Partnership AKFTA ASEAN-Republic of Korea Free Trade Agreement ANZ Australia and New Zealand
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