ADBI study says ASEAN can catch up with the EU in 2030
The Asian Development Bank Institute (ADBI) recently presented in Jakarta a new publication which forecasts the evolution of ASEAN up to 2030.
It discusses several challenges and opportunities faced by ASEAN and the upcoming Economic Community in the next 15 years and predicts that “key challenges to moving forward are to enhance macroeconomic and financial stability, support equitable growth, promote competitiveness and innovation, and protect the environment. Overcoming these challenges to build a truly borderless economic region implies eliminating remaining barriers to the flow of goods, services, and production factors, and strengthening competitiveness and the institutional framework, while updating some governing principles.”
One of the most sounding findings of this study is that ASEAN countries could catch up with the EU and other developed countries by 2030, should the ASEAN regional economic bloc continue to develop at current and forecasted levels with adequate integration policies.