The Association of Southeast Asian Nations has hailed the establishment of the AEC as a “major milestone in the regional economic integration agenda in ASEAN, offering opportunities in the form of a huge market of US$2.6 trillion and over 622 million people.” Here, ASEAN lays out policy papers and reports critical to understanding the AEC and what it hopes to achieve.
Ten countries in Southeast Asia are attempting to launch a single market for goods, services, capital, and labor, which has the potential to become one of the largest economies and markets in the world. The Asian Development Bank presents 12 things to know about the ASEAN Economic Community.
The Singapore Institute of International Affairs (SIIA) writes: “As ASEAN gears up for ASEAN Community 2015, questions have been raised whether this is achievable and what it will mean for ASEAN citizens and corporations. Deeper policy questions also arise as to how ASEAN works and whether its institutions can further support the process. Integration and ongoing economic liberalization also surface questions of risk from contagion and negative spill-over effects between member states’ economies.”
The SIIA brief highlights potential institutional issues that may arise, and discusses what ASEAN can do as it moves toward deeper integration in the future.
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