Trade In Services
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Overview
Areas of Cooperation Sectoral Bodies Overview (Source: ASEANStats, Initiative for ASEAN Integration & Narrowing Development Gap (IAI & NDG) By connecting ASEAN through the Master Plan on ASEAN Connectivity 2025, we are creating a network of people and infrastructure to improve the way we live, work and travel. The Leaders envision ASEAN as a peaceful, stable and resilient region within a global community of nations while still maintaining ASEAN centrality. ASEAN Community is envisioned as a community with enhanced capacity and capabilities to both respond effectively to challenges and to seize opportunitiAreas of Cooperation
ASEAN Framework Agreement on Services (AFAS)
Recognising the growing importance of trade in services, ASEAN Member States had commenced their joint effort to work towards free flow of trade in services within the region through the ASEAN Framework Agreement on Services (AFAS), sSectoral Bodies
The works on services integration in ASEAN are overseen by the ASEAN Economic Ministers (AEM). Following the decision of AEM at an Informal Meeting held on 28 June 1999 in Auckland, New Zealand, ASEAN Finance Ministers (AFMM) and ASEAN Transport Ministers (ATM) subsequently took the Overview
The Importance of Trade in Services in ASEAN Economy
Services is a sizeable and continuously expanding component of GDP in ASEAN economies. As of 2018, services sector represents between 38% and 69% of ASEAN Member States’ Gross Domestic ProductInitiative for ASEAN Integration & Narrowing Development Gap (IAI & NDG)
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