At the end of 2015, the 10 states of Asean will form a common market — the Asean Economic Community (AEC). The idea of an Asean single market and production base is based on the free flow of goods, services, investment and skilled labour and the freer flow of capital. This is expected to bring about a number of benefits for participating countries.
Economically, the AEC is intended to drive growth for the countries involved, making it cheaper and easier to do business in the region and, possibly, globally.
Under the AEC, Asean-based businesses are likely to find greater ease operating in a more integrated production base. Besides lower trade barriers and increased trade flows, they can access larger markets and enjoy the same incentives as local businesses.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.