History of AEC
At Ninth Summit in October 2003, the Association of South East Asian Nations (ASEAN) has established regional cooperation on the three pillars of security and socio cultural and economic integration. It has made most progress in economic integration and aims to create an ASEAN Economic Community (AEC) as one of the three pillars by 2015.
To clarify this, the mission of the AEC is to develop a single market and production base that is stable, wealth, highly competitive and economically integrated with effective facilitation for trade and investment in which there is free flow of goods, services, investment, skilled labors, and free flow of capital. Furthermore, creating an economic community will help Southeast Asia in boosting its economic competitiveness and attractiveness to investors inside and outside the region.
Recent Comments