29 Dec '15, 10am

Free trade in ASEAN would create 500k jobs - report - Paul Tan's Automotive News

Free trade in ASEAN would create 500k jobs - report - Paul Tan's Automotive News

According to an economic study released by General Motors earlier this month, the removal of non-tariff measures (NTMs) in the automotive industry that prevent free trade within ASEAN would create up to 500,000 new jobs as well as an increase economic output. The study, commissioned by GM and carried out by Oxford Economics, reveals that while import tariffs have progressively fallen, almost 190 additional NTMs were implemented across ASEAN member countries between 2009 and 2013, and these remain a significant impediment to achieving the fundamental aims of the ASEAN Economic Community (AEC) to establish the free movement of goods across borders. Oxford Economics found that the automotive sector lags behind other sectors in removing NTMs, with over 70% of imports of motor vehicles and auto parts subject to some kind of non-tariff barrier in Indonesia, Malaysia, the Philipp...

Full article: http://paultan.org/2015/12/29/free-trade-in-asean-would-c...

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