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

Comparative Study on the Perception and Response of Singapore and Indonesia

As projected by the AEC Blueprint, the AEC was finally launched on the 31th of December, 2015. The AEC has been perceived to open a new phase of more deepened economic integration in Southeast Asia. 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.