Establishment of the AEC(ASEAN Economic Community)
The ASEAN(Association of Southeast Asian
Nations), the 7th largest economy in the world, seems quite noisy in
the wake of the new year, 2017. Assassination at the airport of the capital
city of Malaysia triggered huge fury from all over the world as the North
Korean regime is suspected of the mastermind of the incident. While Myanmar is
under international criticism for the massacre of its minority group, Indonesia
sees social conflict with controversy of the majority religious party's alleged
attempt to exercise influence on the political sector.
10 ASEAN members are
faced with their own weighty political or diplomatic issues as mentioned.
However, all countries may share their uniformed look at the 'AEC(ASEAN
Economic Community)'. It is because the AEC came to the 2nd year of
its ambitious inauguration 47 years after the establishment of the ASEAN back in
1968.
Along with the ASEAN Political-Security
Community and the ASEAN Socio-Cultural Community, the concept of the AEC was
born from the ASEAN 2025 adopted by the leaders of the ASEAN. According to the
AEC blueprint 2025, part of the ASEAN 2025, the AEC rests on four pillars; a
single market and production base; a competitive economic region; equitable
economic development; and integration with the global economy.
The AEC has been
expected to draw huge attention from the international society ever since it
came into the world. It isn't too much to say that agendas of the AEC blueprint
2025 such as elimination of tariffs, facilitation of skilled labor mobility,
liberalization of investment and promotion of connectivity have been greatly valued
to the global community. In fact, meaningful progress was already achieved
since more than 70% of the intra-regional trade has been conducted free from
any types of tariff.
