ASEAN Economic Community: Potential, reality, and the role for business

Come 31st December 2015, the leaders of the 10 ASEAN member states intend to declare victory: the ASEAN Economic Community (AEC) will have been successfully established – at least that is what they will claim publicly. As validation, they will refer to the “Scorecard”, a set of measures designed to track the progress made by member states in making AEC a reality. In reality the AEC will still be a work in progress.

That said, it would be a mistake to take lightly the importance of the AEC. ASEAN member states have and will continue to make headway, with important and far-reaching implications for business. The ASEAN region has immense potential that remains untapped, and the AEC outlines a long list of important goals for ASEAN’s members to strive towards. The role of business here cannot be understated; the private sector is a tremendous source of global expertise, experience, and resources that be harnessed to help make the AEC a reality.

 The AEC is an ambitious project, promising the free movement of goods, services, investment, skilled labour and freer movement of capital across ten member states for the 600 million people in Southeast Asia. Now more than ever, the private sector needs to take a greater interest and play a larger role in shaping ASEAN and the AEC in ways that will benefit the people of Southeast Asia.

 This 36 page long detailed report provides an overview of the potential that AEC brings to the region, the reality on the ground, and the role that business can play in helping to make that potential a reality.

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