As the 2015 ASEAN Economic Community integration approaches, global interest in Thailand and the rest of the ASEAN countries – Brunei, Cambodia, Indonesia, Laos, Myanmar, Malaysia, Philippines, Singapore and Vietnam – continues to grow. The ASEAN Economic Community is home to 600 million people and a combined gross domestic product of more than US $1.13 trillion and offers a wealth of trade and investment opportunities across an extensive range of industries and businesses. One of the founding members of ASEAN, Thailand benefits from a strategic location and successful economic relationships with all ASEAN countries and China, Japan, Korea, India, and Australia and New Zealand. Thailand is in position to become an ASEAN hub as it offers convenient trade with China, India and the ASEAN countries and easy access into the Greater Mekong sub-region where newly emerging markets offer great business potential. Free flows of goods and services under the ASEAN Economic Community and the increasing trend of intra-regional trade will further provide Thailand with greater access to markets at sub-regional and regional levels. Between the ASEAN countries and China and India alone, a total market size of 2 billion people will be available in the form of cross-border trade with lower costs.
To date, Dej-Udom & Associates is already providing clients with specialized regional advice and legal services on labor movement, cross-border investment, and trade integration. However, with the great benefits of the ASEAN Economic Community come great challenges, and Dej-Udom & Associates plans to stay on the cutting edge of this landmark expansion of South East Asia. One of the firm’s strengths is its ability to serve as an across-the-board legal resource for international clients, so for both potential and current clients, our professionals will continue producing reports and articles like our ASEAN Legal & Business Guide which has pertinent, information for all ASEAN countries ranging from a nation’s investment environment and taxation policies to its demographics and legal system.
The objective of the ASEAN Comprehensive Investment Agreement (ACIA) that came into effect on 29 March 2012 is to bolster ASEAN investment by establishing a free, open, transparent and integrated investment regime for domestic and international investors throughout the ASEAN member states that supports the economic integration of the region before and after the ASEAN Economic Community integration in 2015.