In 2007, ASEAN developed its Blueprint for the ASEAN Economic Community. The Blueprint identified four “pillars” of the AEC to create a single market and production base, a competitive economic region, a region of equitable economic development, and a globally integrated regional economy.
What are the 4 pillars of Asean Economic Community?
The AEC is characterised by four pillars: single market and production base, highly competitive economic region, a region of equitable economic development, and a region that is fully integrated with the global economy.
What is the suggested 4th pillar of ASEAN?
The fourth pillar seeks to focus on discussions on challenges and solutions to environmental ruin caused by rapid economic growth in the Asean region. It also places best practices and sustainability at the center of decision-making.
What are the pillars of Asean community?
The ASEAN Community is comprised of three pillars, namely the ASEAN Political-Security Community, ASEAN Economic Community and ASEAN Socio-Cultural Community.
What are the main pillars of ASEAN discuss briefly?
Answer: The three pillars of the ASEAN Community, namely the ASEAN Political-Security Community (APSC), the ASEAN Economic Community (AEC) and the ASEAN Socio-Cultural Community (ASCC), are the most crucial areas deemed necessary for the progress and evolution of ASEAN and its peoples.
What is the ASEAN motto?
The motto of ASEAN is “One Vision, One Identity, One Community”.
What is the most important ASEAN pillar and why?
The three pillars of the ASEAN Community, namely the ASEAN Political-Security Community (APSC), the ASEAN Economic Community (AEC) and the ASEAN Socio-Cultural Community (ASCC), are the most crucial areas deemed necessary for the progress and evolution of ASEAN and its peoples.
What are the 4 pillars of ASEAN explain each pillar?
There are four pillars to the AEC: 1) Single Market and Production Base; 2) Competitive Economic Region; 3) Equitable Economic Development; and 4) ASEAN’s Integration into the Global Economy.
What is the main goal of ASEAN?
The ASEAN Declaration states that the aims and purposes of the Association are: (1) to accelerate economic growth, social progress and cultural development in the region and (2) to promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries in the …
What are the three major economic engines of ASEAN?
Attached to the Declaration of ASEAN Concord, one of two historic documents yielded by the Summit, was a Program of Action that set forth three important instruments of ASEAN economic cooperation: the ASEAN Industrial Projects (AIP), the Preferential Trading Arrangements (PTA) and the ASEAN Industrial Cooperation (AIC) …
What is the most important part of ASEAN Community?
The ASEAN Community pursues the goal of ASEAN’s founding fathers of improving the lives of Southeast Asia peoples through economic and cultural development, social progress, regional peace and security, collaboration, mutual assistance in training and research, improvement of living standards, promotion of Southeast …
What is the goal of Asean Economic Community?
On January 1, 2016, the world’s seventh largest economy, the Association of Southeast Asian Nations (“ASEAN”), inaugurated the ASEAN Economic Community (“AEC”). The AEC aims to create a single market and production base for the free flow of goods, services, investment, capital, and skilled labor within ASEAN.