Inauguration of the AEC and Its Impacts on Relation between Singapore and Indonesia(3)

Comparative Research on Relationship of Singapore and Indonesia in the AEC Aspect

Along with the ASEAN Political-Security Community and the ASEAN Socio-Cultural Community, the concept of the AEC was first conceived in the ASEAN Vision 2020 articulated in 1997. Then in 2003, leaders of the ASEAN declared the formation of an ASEAN Economic Community by 2020 as the agreed goal of regional economic integration. 

According to the AEC Blueprint 2015, a comprehensive masterplan adopted in 2007 and  accelerated the formal establishment of the AEC from 2020 to 2015, AEC rests on four pillars; a single market and production base; a competitive economic region; equitable economic development; and integration with the global economy.