ASEAN ECONOMIC COMMUNITY

SUI GENERIS MODEL AND LEGAL ISSUES OF INTEGRATION

Анотація

In order to intensify bilateral relations between Ukraine and ASEAN and, accordingly, to increase trade between Ukraine and the ASEAN countries, achieve closer investment cooperation, as envisaged by the Foreign Policy Strategy of Ukraine, the author conducted an in-depth legal and economic study. The research article analyses three main stages of ASEAN economic integration development, determines its achievements and failures. For 212 ЮРИДИЧНИЙ ВІСНИК, 2021/6 a better understanding of AEC the author decomposes treaties and soft law in respect of legal mechanisms to be implemented by the states. The article examines institutional model behind the ASEAN economic community and defines distinctive features of the AEC. Finally the author compares Ukraine-ASEAN trade turnout and evaluates prospects for bilateral economic development. Taking into account the possible impact of the RSEP agreement on relations between Ukraine and ASEAN, the author concludes on the expected results of the implementation of the agreement. The author examines six main pillars of the ASEAN economic integration, namely: 1) Competitive Policy; 2) Consumer Protection; 3) Intellectual Property Rights; 4) Infrastructure Development; 5) Environmental Measures Tax; 6) Electronic Commerce. The author examines legal mechanisms of economic integration in the AFTA and ATISA. The results of the research shows that sui generis model of ASEAN is heavily reliant on the sovereign will of each state, there is no supranational body and in 2021 the AEC remained still adherent to application of soft law for a better transition of small economies to high standards of integration. As to Ukraine-ASEAN economic cooperation estimates have shown that in 2020 there was a decline in trade dynamics between Ukraine and states of South-East Asia. Export from all ASEAN states to Ukraine cumulatively was less than 1,6 billion USD. In the meantime export turnout from January to September 2021 accounted to 1,24 billion USD, this is almost 4 percent higher than in the previous period. As of today, Ukraine remains one of the leaders in the export of agricultural and food products to the market of some ASEAN countries. In the framework of AEC integration 60.3% of measures defined by the ASEAN economic blueprint were implemented, it means that in the nearest future ASEAN will approach the need to establish an FTA with the countries of the European region that have high production capacity and have concluded their own bilateral and multilateral trade preferential agreements, such is Ukraine.