ASEAN is on the lookout for ways to accelerate trade facilitation and eliminate trade barriers by 2025 under its new 10-year ASEAN Economic Community (AEC) roadmap.
At the ASEAN Summit in Kuala Lumpur, in November, President Obama reached out to elevate the United States–ASEAN relationship to a ‘strategic partnership’ and invited ASEAN Leaders to a summit that, it’s now been announced, will take place at Sunnylands in Rancho Mirage, California on 15–16 February.
Regardless of whether or not the ASEAN Economic Community (AEC) will be successfully concluded by its deadline of 31 December 2015, we shouldn’t be solely obsessing about its ability to deliver its ‘single market’ objective on time: the AEC project has broader strategic objectives too, and on that front, it’s been a success.
Established in late 2015 by the Association of Southeast Asian Nations (itself founded in 1967), the AEC has been seen as a way to promote economic, political, social and cultural cooperation across the region.
Even though the AEC is just three months away from being launched, there has been scepticism associated with ASEAN leaders’ ability to bring the AEC into fruition.
Following the formal establishment of the ASEAN Economic Community (AEC) in 2015, the AEC will eventually have a great impact on the way we live, work and do business in the ASEAN region. As we know, at the end of 2015 the AEC was launched to make the region a single market and production base.
SINGAPORE: As the ASEAN Economic Community continues to take shape, it is important to strengthen SMEs, Singapore's Ambassador-at-Large Ong Keng Yong said on Thursday (Aug 4).
ASEAN Economic Community to bring opportunities, challenges to Vietnam As a member of the Association of Southeast Asian Nations (ASEAN), Vietnam will face both opportunities for growth and challenges when the ASEAN Economic Community (AEC) is established by the yearend.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
