Free Flow of GoodsThe free flow of

Free Flow of Goods

The free flow of goods is basically the ability to move your goods to any country within the community aiming to build networks within the ASEAN and help to grow the capacity and serve as a global production center. To benefit countries within the economic community, all goods that are bought and sold within it are free from tariffs, according to the CEPT-AFTA Agreement. With keeping the benefits in mind, the group will also experience lower transaction costs thanks to the standardized trade and customs, processes, procedures and related information with the goal in mind of better export competitiveness.

Free Flow of Services

This happens to be one of the most important parts of the ASEAN Economic Community. Services are able to flow freely throughout the south east region and that happens without restrictions from ASEAN suppliers. This allows service suppliers to establish companies across borders. When it comes to negotiating services like financial and air transport, they will be carried out by the respective Ministerial bodies according to the blueprint and agreements.

Free Flow of Investment

To establish a free and open investment regime, which is a main key to enhancing ASEAN’s competitiveness to attract foreign investments, the free flow of investments must be allowed. It is key to get foreign investments, as well as investments from southeast Asia countries that are part of the ASEAN Economic Community. A country in southeast Asia would be able to invest in another within the ASEAN community and this allows for expanded growth and will promote and ensure dynamic development of the countries within the ASEAN community. The written blueprint hopes to enhance “Investment Protection”, “Facilitation and Cooperation”, “Promotion and Awareness” and “Liberalization” within the region.

Free Flow of Capital

This aims to make the ASEAN Capital Market Development stronger by achieving better market standards, mutual recognition, greater flexibility in language, enhanced tab structure and to facilitate market driven efforts in cross-border capital fundraisers. Allowing greater capital mobility including removing restrictions and enhance the flow of payments and transfers, as well as support direct investments from foreign countries outside of the ASEAN community.

Free Flow of Skilled Labor

This portion hopes to allow for the mobility and free flowing possibility of moving persons that are skilled in goods, services and investments according to the restrictions that would be set forth by the country they are traveling to. ASEAN is hoping to speed up the issuance of visa’s and passes for employment for those professionals and skilled laborers engaging in cross-border work. The main goal is to enhance the standardization of restrictions and requirements for those that are needed to work in other parts of the region. Other key parts include enhancing cooperation, developing core competencies and strengthen the research capabilities of all members of the ASEAN community.