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ASEAN6 has grown into ASEAN10 to include Cambodia, Laos, Myanmar and Vietnam (CLMV) as progress of...

ASEAN6 has grown into ASEAN10 to include Cambodia, Laos, Myanmar and Vietnam (CLMV) as progress of ASEAN widening. Discuss and elaborate three challenges ASEAN faced to deepen into further stages of economic integration as CLMV being added

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Answer #1

Hi, Below are the major challenges which they were faced to include Cambodia, Laos, Myanmar and Vietnam (CLMV).

1. Loss of import revenues when import tariffs are reduced to maximum 5% and eliminated in 2018.

2. Carry out reform to comply with ASEAN Agreements resulting in increased transparency, reduction of cost for doing business.

3.Goods produced in Cambodia need to meet international standards. Without this, it would be difficult to find buyers and get better prices .

Hope this help you to understand the challenges.

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