ASEAN Economic Community (AEC): The next level of Integration

PRESENTATION OUTLINE

1. ASEAN’s relevance – Ready for the 21st century
2. The path to AEC – Already set in motion
3. Next level of integration – Of opportunities and challenges
4. Conclusion

CONCLUSION

• Amid going through a rough patch Post-Global Financial Crisis, ASEAN will emerge stronger
• By 2030, ASEAN will add another 120m people to its already vibrant population of 625m people and a potential GDP growth of 5%
• With ASEAN’s strategic location next to China and India, the two countries are largely viewed as a complementary force to ASEAN amid the high degree of competition they bring
• The path to AEC remains challenging. Weak institutional framework and the lack of an enforcement mechanism are impediments to comprehensive integration
• Lack of alignment of interest between political leaders and bureaucrats
• Loose implementation of AEC provisions will result in few immediate benefits