ASEAN-Indonesia NewsIndonesia & Asean Single Market

Transformation Indonesia is eager to use its chairmanship of ASEAN this year to lay the foundation and set the direction for the proposed establishment of the ASEAN Economic Community (AEC) by 2015, by commencing now with the preparations and then determining the course for the first seven years of the AEC.

The 10 ASEAN countries are aspiring to build a single market and production base with an estimated total annual trade of US$ 1.23 trillion – in a bid to build a highly competitive economic region. Aside from Indonesia, Asean is also composed of the Philippines, Malaysia, Vietnam, Singapore, Thailand, Burma, Cambodia, Laos & Brunei.

The ambitious project is set for completion in 2015, ahead of the economic community’s launch and would standardize major roads linking ASEAN countries in a bid to improve the free flow of goods and commodities. The roads will also link ASEAN states to China and India.

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