Formation of ASEAN Community

November 23, 2015
TheDiplomat - ADB

Summary:

The Association of Southeast Asian Nations (ASEAN) inked the 2015 Kuala Lumpur Declaration on the Establishment of the ASEAN Community. The ASEAN Community is to be based on three pillars: the ASEAN Political and Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community. The ASEAN Economic Community (AEC) is expected to be formed by December 31st, 2015. The Community would launch a single market for goods, services, capital and labor for all 10 member countries.

Sources:

http://thediplomat.com/2015/11/asean-creates-new-community-under-malaysias-chairmanship/

http://www.adb.org/features/asean-economic-community-12-things-know