Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(4)

Comparative Study on the Perception and Response of Singapore and Indonesia

According to the AEC Blueprint 2015, a comprehensive masterplan 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. 

The AEC has drawn huge attention from the global society ever since discussions over the formation of the new regional economic community became the talk of the town.

The foundation of the AEC and its implication for South Korea(2)

The foundation of the AEC and its implication for South Korea

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 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.