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ASEAN on the path to a common economic space

Following the meeting of the Ministers of Economy of the countries of the Association of Southeast Asian Nations in Kota-Baru, a joint statement was made, which provides a forecast of the growth rates of ten countries.

According to the document, the growth rate of the ASEAN member countries will be 5,1%, which is 1,7% higher than the world average.

The assessment is based on internal and external factors. So, on the one hand, due to falling oil prices, the cost of production will go down and the purchasing power of consumers will increase, which will lead to an increase in domestic demand in the region. At the same time, an increase in external demand from developed economies is expected in connection with the US stimulus measures in the Eurozone and Japan.

Another important statement was the confirmation of progress in adopting positive measures aimed at the integration and liberalization of the economic region. Further emphasis will be placed on continuing the simplification of customs procedures, as well as harmonizing the internal standards of the participating countries.

"Deepening economic integration in the region will contribute to the progress and prosperity of ASEAN", - said in a statement. At the same time, it is emphasized that progress towards a single economic space does not mean its implementation by January 1, 2016.

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