What are the benefits that the Philippines get from the ASEAN?

Cheaper goods and services Other than better travel options, ASEAN also gives nations within the region to do more trade for goods and services. Tax on imported goods is lowered or even eliminated.

How does ASEAN benefit its member countries?

ASEAN’s purpose is to promote economic and cultural exchange among its member countries, maintain peace and stability in Southeast Asia, and establish relationships with foreign powers with similar aims. ASEAN formed during the Cold War to promote stability and cooperation in a politically turbulent region.

What are the cons of ASEAN?

As a regional grouping, ASEAN has four major weaknesses: The tendency to prioritize national over regional interests, weak leadership, ineffective bureaucratic structure and purely emulating the Western approach.

What happen if ASEAN is a country?

The 10 member countries of ASEAN have a combined population of approximately 625 million people or about 8.8\% of the world’s population. If ASEAN were a single country, it would have the third largest population in the world behind India (1.31 Billion) and China (1.39 Billion).

What are the competitive advantages of the Philippines in the world market?

The country has opened up its economy by allowing 100\% foreign ownership in almost all sectors. It has strengthened its capital markets and has deregulated banking, insurance, and the shipping and telecommunication sectors, therefore removing most, if not all of the monopoly structures in the Philippine market economy.

Which ASEAN country uses Sultanate as its government system?

After Brunei attained full independence in 1984, an Islamic sultanate was established, and the constitution, while retained, underwent significant amendment. Ultimate authority rests with the sultan, who is both head of state and head of government.