Inauguration of the AEC and Its Impacts on Relation between Singapore and Indonesia(28)

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

According to the papers by Juliana Giam (p. 280-281.) and Ong Keng Yong (p. 132-133.), Singapore’s major perception of and response to the formation of the AEC can be summarized as below. 

Singapore remains committed and continues to work closely with the other ASEAN countries to achieve the goals of the AEC as set out in the AEC blueprint. Singapore believes that a strong and competitive ASEAN is important in the face of growing challenges posed, not just to the Southeast Asian economy, but the global economy.

Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(33)

Comparative Study on the Perception and Response of Singapore and Indonesia

To its credit the Indonesian Government has taken the necessary steps to incorporate its commitments to the AEC into the country's national economic development programs. 

With regard to its commitments to the AEC, there is, unfortunately, no simple way to verify the degree of the Indonesian Government's compliance. Ever since Indonesia initiated trade liberalization in the mid-1980s, it has significantly reduced tariff rates, more or less across the board.