Inauguration of the AEC and Its Impacts on Relation between Singapore and Indonesia(9)

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

The first articulation of the concept of ASEAN economic integration was revealed in the Framework Agreement on Enhancing ASEAN Economic Cooperation signed in Singapore in 1992. The Agreement highlighted the importance of cooperation in the areas of trade; industry, minerals and energy; finance and banking; food, agriculture, and forestry; as well as transport and communications. 

It was not until 2003, at the 9th ASEAN Summit, that ASEAN Leaders first declared the formation of an 'ASEAN Economic Community' as stated in the Bali Concord II.