The ASEAN Economic Community (AEC) is a single market and production base, allowing free flow of goods, services, investments, capital, and skilled labor across the region. The AEC was established in 2015 and is expected to be fully realized by 2020. The ASEAN Economic Community is a major economic development initiative of the 10 ASEAN member states, and is expected to be a major driver of economic growth in the region. One of the most important components of the AEC is the ASEAN Free Trade Area (AFTA), which eliminates tariffs and other barriers to trade between the ASEAN countries. The AFTA is a cornerstone of the AEC, and is a major contributor to the free flow of goods, services, and investments in the ASEAN region.
The ASEAN Economic Community also includes the ASEAN-China Free Trade Area (ACFTA), which was established in 2010 and is a major component of the AEC. The ACFTA eliminates tariffs and other barriers to trade between China and the ASEAN countries. The ACFTA is an important component of the AEC and is expected to be a major driver of economic growth in the region.
The ASEAN Economic Community also includes the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), which was established in 2010 and is a major component of the AEC. The AANZFTA eliminates tariffs and other barriers to trade between Australia, New Zealand, and the ASEAN countries. The AANZFTA is an important component of the AEC and is expected to be a major driver of economic growth in the region.
The ASEAN Economic Community also includes the ASEAN-India Free Trade Area (AIFTA), which was established in 2010 and is a major component of the AEC. The AIFTA eliminates tariffs and other barriers to trade between India and the ASEAN countries. The AIFTA is an important component of the AEC and is expected to be a major driver of economic growth in the region.
The ASEAN Economic Community also includes the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), which was established in 2007 and is a major component of the AEC. The AJCEP eliminates tariffs and other barriers to trade between Japan and the ASEAN countries. The AJCEP is an important component of the AEC and is expected to be a major driver of economic growth in the region.
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