ASEAN Economic Community (AEC)

The ASEAN Economic Community (AEC) is a regional initiative established by the Association of Southeast Asian Nations (ASEAN) to promote economic integration among its ten member countries. Launched in 2015, AEC aims to create a single market and production base, allowing for the free flow of goods, services, investment, and skilled labor across the region. By reducing trade barriers and harmonizing regulations, the AEC seeks to enhance competitiveness, foster innovation, and improve the overall economic growth of member states, ultimately benefiting both businesses and consumers in Southeast Asia.