What is ASEAN Economic Community (AEC)?

What is ASEAN Economic Community (AEC)?

The establishment of the ASEAN Economic Community (AEC) in 2015 is a major milestone in the regional economic integration agenda in ASEAN, offering opportunities in the form of a huge market of US$2.6 trillion and over 622 million people. In 2014, AEC was collectively the third largest economy in Asia and the seventh largest in the world.

What does the AEC Blueprint 2025 mean for ASEAN?

The AEC Blueprint 2025 will lead towards an ASEAN that is more proactive, having had in place the structure and frameworks to operate as an economic community, cultivating its collective identity and strength to engage with the world, responding to new developments, and seizing new opportunities.

Where is the ASEAN Secretariat located?

The ASEAN Secretariat 70A Jalan Sisingamangaraja Jakarta 12110 (+6221)7262991, 7243372

How many people live in the ASEAN region?

The ASEAN contains about 31 urban areas with populations of over one million. The largest urban area in the ASEAN is Jakarta followed by Manila, Bangkok, Ho Chi Minh City, Kuala Lumpur, Bandung, Hanoi, Surabaya, Yangon, and Singapore, all with an urban population of over 5 million. Over 49.5% or 324 million people live in urban areas.

What are the conflicts in ASEAN countries?

Several territorial disputes has affected the unity of ASEAN such as the Cambodian–Thai border dispute between Cambodia and Thailand, the North Borneo dispute between the Philippines and Malaysia, and the South China Sea dispute which includes Vietnam, Brunei, the Philippines, Malaysia, and possibly Indonesia.

Which country held the chair of ASEAN in 2020?

Vietnam held the chair of ASEAN in 2020. There are currently two states seeking accession to ASEAN: Papua New Guinea and East Timor. A number of countries had expressed an interest in becoming part of ASEAN such as Bangladesh, Fiji and Sri Lanka . , the population of the ASEAN was about 655 million people (8.5% of the world population).