Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(14)

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

It is because the AEC's ultimate target is to become an Asian version of the EEC (European Economic Community), the precursor of the EU (European Union). Consequently, 10 member states have put considerable efforts to keep pace with the new economic norm envisioning a single market in the region. 

The goals of the AEC go with the interrelated four pillars upon which the AEC Blueprint is based. They are a single market and production base, a highly competitive economic region, a region of equitable economic development and a region fully integrated into the global economy.