Question: When was the Asean Economic Community blueprint adopted?

The AEC Blueprint 2025, adopted by the ASEAN Leaders at the 27th ASEAN Summit on 22 November 2015 in Kuala Lumpur, Malaysia, provides broad directions through strategic measures for the AEC from 2016 to 2025.

In which year was ASEAN Economic Community AEC formally established?

ASEAN Economic Community – ASEAN. The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN: Indonesia, Malaysia, Philippines, Singapore and Thailand.

Is ASEAN an economic community?

The ASEAN Economic Community envisions ASEAN as a single market and production base. Free flow of goods, services, investments, capital, and labor will allow the development of production networks in the region and enhance ASEAN’s capacity as the global supply chain.

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What are the key achievements of AEC by 2015?

A Blueprint for Growth | AEC 2015: Progress and Key Achievements

  • ASEAN Single Aviation Market : One Sky, One Region.
  • Mutual Recognitiion Arrangement on Tourism Professionals : Tourism Professionals without Borders.
  • ASEAN Consumer Based Tourism Standard : Tourism for the People.

What is ASEAN Integration 2015 all about?

The ASEAN Integration Report (AIR) 2015 provides a comprehensive analysis of the progress and achievements, including evaluating the impact, of implementation of the ASEAN Economic Community (AEC) Blueprint since its adoption in 2007.

What Asean agreement accelerated the creation of the Asean Community from 2012 to 2015?

Leaders affirmed their strong commitment to accelerate the establishment of an ASEAN Community by 2015 as envisioned in the ASEAN Vision 2020 and the ASEAN Concord II, and signed the Cebu Declaration on the Acceleration of the Establishment of an ASEAN Community by 2015.

Which country joined Asean 1998?

1997 – First meeting of ASEAN Plus Three, comprising leaders of the 10 ASEAN members and their counterparts from East Asia – China, Japan and South Korea. Laos and Myanmar join ASEAN. 1998 – The two day ASEAN summit opens in Hanoi, Vietnam. Cambodia is admitted formally.

What are economic communities?

Nations that frequently trade with each other may decide to formalize their relationship. The governments meet and work out agreements for a common economic policy. The result is an economic community or, in other cases, a bilateral trade agreement (an agreement between two countries to lower trade barriers).

What is Asean Economic Community PDF?

The ASEAN Economic Community (AEC) is the largest integration effort attempted in the developing world; if realized, it will create a single market with the free movement of goods, services, foreign direct investment and skilled labor, and freer movement of capital encompassing nearly 600 million people.

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What is the vision of the Asean Economic Community?

Our ASEAN Economic Community by 2025 shall be highly integrated and cohesive; competitive, innovative and dynamic; with enhanced connectivity and sectoral cooperation; and a more resilient, inclusive, and people-oriented, people-centred community, integrated with the global economy. 10.

What is the Asean Economic Community Blueprint 2025 part of?

The AEC Blueprint 2025 consists of five interrelated and mutually reinforcing characteristics, namely: (i) A Highly Integrated and Cohesive Economy; (ii) A Competitive, Innovative, and Dynamic ASEAN; (iii) Enhanced Connectivity and Sectoral Cooperation; (iv) A Resilient, Inclusive, People-Oriented, and People-Centred …

What is the major milestone of ASEAN economic integration?

The establishment of the ASEAN Economic Community (AEC) in 2015 is a major milestone in the regional economic integration agenda in ASEAN, offering opportunities in the form of a huge market of US$2.6 trillion and over 622 million people.

What are the six 6 core elements under the competitive economic region?

Based on these facts, the reality of economic integration is that there are six stages: (1) FTA (covering trade in goods only), (2) comprehensive FTA (economic partnership), (3) customs union, (4) common market, (5) economic union, and (6) complete economic integration.

Is ASEAN Integration 2015 program can be considered an economic integration?

Economic integration, embodied in the Economic Community pillar of the Association of Southeast Asian Nations (ASEAN) is one of three key pillars that form the Roadmap for an ASEAN Community — in part envisioning a single economic entity by 2015.

What were the 3 ASEAN pillars?

shall be established comprising three pillars, namely political and security cooperation, economic cooperation, and socio-cultural cooperation…”

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What are the impacts of ASEAN integration?

Integration will undoubtedly affect regional cooperative efforts in the Asia-Pacific; ASEAN can serve as a model for other East Asian partnerships. Many participants saw integration as a means of enhancing the internal stability of member countries, thereby providing a foundation for future regional partnerships.