The ASEAN Economic Community (AEC), with the goal of regional economic integration characterized by a single market and production base, a highly competitive economic region, a region of economic development, and fully integrated into the global economy, finally commenced in late 2015. Economic progress has been made, as the Gross Domestic Product (GDP) of ASEAN member states (AMS) grew at 5.3% per annum on the average in the past eight years (2007-2015). Moreover, total trade of AMS grew 10.2% on the average with exports growing by an average of 8.6% per annum during the same period. Foreign Direct Investments (FDIs) into the ASEAN have steadily increased ranging from US$ 63.3 billion in 2007 to US$ 121 billion in 2015.>>read complete document
