AEC (ASEAN Economic Community)

The ASEAN Economic Community (AEC) is a regional integration initiative among the ten Southeast Asian nations aimed at creating a single market and production base. It promotes free flow of goods, services, investments, skilled labor, and easier trade across member countries. The goal is to boost economic growth, competitiveness, and development by reducing trade barriers and fostering cooperation. Essentially, AEC works like a unified economic zone, enabling businesses to operate more smoothly across borders and helping Southeast Asia become more attractive to global investors.