What does AEC mean for ASEAN people and companies?

What does AEC mean for ASEAN people and companies?

The commitments that ASEAN members have undertaken to realise the AEC 2015 are wide-ranging. They build on ASSEAN’s potential and increase opportunities for the people and companies in ASEAN countries

• Manufacturers will benefit from more affordable materials, as tariffs in ASEAN come down, allowing materials to pass through borders at lower costs
• Traders will benefit from easier exporting processes and from being able to export at lower costs with tariffs reduced, Rules of Origin made more flexible, and customs procedures simplified
• Service providers will benefit from gaining access into ASEAN, as discriminatory barriers to ASEAN members’ services markets are removed
• Investors will benefit from being able to set up investments in ASEAN more easily as regulations become more transparent, foreign ownership restrictions are eased, and investments are guaranteed protection
• Consumvers will benefit from a wider choice of goods and services at more affordable prices, and from greater access to the internet and broadband connectivity in the region.