Are We Prepared For AEC 2015?
ASEAN COMMUNITY 2015 BACKGROUND The ASEAN Economic Community ( AEC ) is a plan of economic integration that will lead to the creation of a single market and production base by 2015 and is one of the three pillars to achieve a cohesive ASEAN Community, the other two are political/security and social cultural pillars. The AEC will transform ASEAN into a region with free movement of goods , services, investment, skilled labour and freer flow of capital. Free Trade Area ( FTAs ) will ensure ASEAN members gain greater market access in terms of trading partners and attracting foreign direct investments to ASEAN. The main objectives of AEC are to create a single market and production base, highly competitive economic region, region of equitable economic development and region fully integrated into the global economy. THE STUMBLING BLOCK Analysts have voiced their concern that the group’s plan to move towards an ASEAN Community by 2015 is...