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WorldJanuary 5 2015

The Asean Economic Community's many layers

Progress towards the integration of the economic community of the Association of South-east Asian Nations in 2015 has been impressive, but challenges remain as member countries attempt to bring together very different values. 
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The integration of the economic community of the Association of South-east Asian Nations (Asean) is the largest regional consolidation undertaken since the European Economic Community was established in 1957. Its task is arguably trickier. Incorporating countries as politically, economically and socially diverse as Singapore and Myanmar in the same business group is no easy task.

That explains in part why many observers doubt that the Asean Economic Community (AEC) will be formalised by the end of 2015, as scheduled. But this is no testament to failure. The AEC has made impressive progress in trade liberalisation and, to some extent, political reconciliation – as exemplified by Myanmar’s re-engagement with the international community two years ago. The events of 2015 will hardly be an arrival point.

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