ASEAN Economic Community Boosts Trade and Investment Across Southeast Asia
The ASEAN Economic Community (AEC) was established in 2015 to promote free movement of goods, services, investment, and skilled workers among ASEAN countries. The AEC aims to create a high level of trade liberalization through tariff elimination. While progress has been made, challenges remain in liberalizing trade in services and removing non-tariff barriers. AEC2025 focuses on attracting foreign direct investment to participate in the global value chain. Overall, ASEAN's economic integration has been successful due to its flexible approach over time, serving as a model for other developing countries.