What are the 4 pillars of Asean Economic Community?
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 are the five interrelated and mutually reinforcing characteristics of Asean Economic Community?
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 are the 5 core principles of ASEAN single market?
11. Through ASEAN Free Trade Area (AFTA), ASEAN has achieved significant progress in the removal of tariffs. However, free flow of goods would require not only zero tariffs but the removal of non-tariff barriers as well.
What are the 3 community pillars of ASEAN?
shall be established comprising three pillars, namely political and security cooperation, economic cooperation, and socio-cultural cooperation…”
What is the goal of AEC?
The primary objective of the AEC is to “implement the initiatives to achieve a single market and production base, allowing the free flow of goods, services, investments, and skilled labor, and the freer movement of capital across the region” (ADB).
What is AEC?
The acronym AEC stands for “architecture, engineering and construction”.
What are the five goals of the Asean Economic Community set in 2015?
ASEAN realized the ASEAN Economic Community (AEC) at the end of 2015. The AEC is an economic integration whose goals are free movement of goods, services, investment, and skilled workers, and freer movement of capital.
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 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.
What is Bali Concord II?
The Bali Concord II, named after the Declaration of ASEAN Concord, or The Bali Concord, which was produced at the First ASEAN Summit in Bali in 1976, consists of three pillars, namely an ASEAN Security Community (ASC), an ASEAN Economic Community (AEC) and an ASEAN Socio-cultural Community (ASCC) among ASEAN member …
What is the goal of Asean Economic Community?
ASEAN ECONOMIC COMMUNITY Its goal is to create a stable, prosperous and highly competitive ASEAN economic region in which there is a free flow of goods, services, investment and a freer flow of capital, equitable economic development and reduced poverty and socio-economic disparities in year 2020.
How many countries are in AEC?
ASEAN
| show Association of Southeast Asian Nations | |
|---|---|
| Working language | English |
| Official languages of contracting states | Burmese Chinese English Filipino Indonesian Khmer Lao Malay Tamil Thai Vietnamese |
| Membership | Brunei Cambodia Indonesia Laos Malaysia Myanmar Philippines Singapore Thailand Vietnam |
| Leaders |
What are the principles of the ASEAN Economic Community?
ASEAN is founded on the principles of economic advancement, social progress and intercultural enlargement in Southeast Asia and the Pacific. The ASEAN Economic Community is the mechanism in charge of delivering an integrated economic region of Southeast Asia by 2015, while ensuring that AEC initiatives are accurately implemented.
What do you need to know about the AEC scorecard?
The AEC Scorecard concludes with an assessment of the path to achieving the Desired State of Evolution, which is the full implementation of measures for economic development and integration. Human resource development and research development seem to lay the foundations of this process.
Who are the members of the ASEAN group?
The Association of Southeast Asian Nations (ASEAN) is an economic and political organization established in 1967 by Indonesia, Singapore, Malaysia, Thailand and the Philippines. Thereon after the association expanded so as to include the countries of Brunei Darussalam, Myanmar, Cambodia, Vietnam and Laos.