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

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

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. It isn't too much to say that agendas of the AEC Blueprint 2015 such as elimination of tariffs, facilitation of skilled labor mobility, liberalization of investment have been greatly valued to the international community. 

In that more than 95% of intra-regional trades have been conducted free from any types of tariff, expectation for meaningful progresses of the AEC gets bigger and bigger.

The establishment of the AEC and its implication for South Korea(3)

The establishment of the AEC and its implication for South Korea

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.

Establishment of the AEC and its implication for South Korea(3)

Establishment of the AEC and its implication for South Korea

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. What will be the ASEAN like in the time of the AEC?