What is the Asean Economic Community AEC Blueprint 2025 part of?

What is the Asean Economic Community AEC Blueprint 2025 part of?

Along with the ASEAN Community Vision 2025, and the ASEAN Political-Security Community (APSC) Blueprint 2025 and the ASEAN Socio-Cultural Community (ASCC) Blueprint 2025, the AEC Blueprint 2025 forms part of ASEAN 2025: Forging Ahead Together. It succeeded the AEC Blueprint (2008-2015), which was adopted in 2007.

What are the four Asean Economic Community AEC pillars?

The AEC is characterised by four pillars: single market and production base, highly competitive economic region, a region of equitable economic development, and a region that is fully integrated with the global economy.

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.

What Asean 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.

What are the main characteristics of AEC Blueprint 2025?

The AEC Blueprint 2025 will build on the AEC Blueprint 2015 consisting 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 …

What is ASEAN’s Vision 2025 Explain based on your understanding?

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 purpose of AEC?

On January 1, 2016, the world’s seventh largest economy, the Association of Southeast Asian Nations (“ASEAN”), inaugurated the ASEAN Economic Community (“AEC”). The AEC aims to create a single market and production base for the free flow of goods, services, investment, capital, and skilled labor within ASEAN.

Why does AEC matter?

The AEC is ultimately designed to create a single market and production base within ASEAN. The AEC will allow for the free movement of goods, services, skilled labor, and investment among the 10 ASEAN member nations and to facilitate the freer flow of capital. In order to achieve this, ASEAN created the AEC Blueprint.

What are the key policy areas of AEC Blue Print 2025?

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 purpose of the ASEAN Political Security Community?

The APSC shall aim to ensure that countries in the region live at peace with one another and with the world in a just, democratic and harmonious environment.

What is the current status of the Asean Economic Community 2025?

ASEAN Economic Community 9. 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 are the characteristics and elements to make the AEC effective in its purpose?

ASEAN and the need for the ASEAN Community as a whole to remain outward looking, the AEC envisages the following key characteristics: (a) a single market and production base, (b) a highly competitive economic region, (c) a region of equitable economic development, and (d) a region fully integrated into the global …

What is the aim of ASEAN Political Security Community?

What is the purpose of the ASEAN Socio Cultural community?

The primary goal of the ASCC is to contribute to realising an ASEAN Community that is people-centred and socially responsible with a view to achieving enduring solidarity and unity among the nations and peoples of ASEAN by forging a common identity and building a caring and sharing society which is inclusive and …

What are the three main pillars of the ASEAN community?

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