The Association of Southeast Asian Nations (ASEAN) was established in 1967 with the aim of enhancing the multilateral cooperation in the field of economics, politics and socio-culture among 10 South East Asian countries, including Singapore, Thailand, Indonesia, Malaysia, Philippines, Brunei, Vietnam, Myanmar, Cambodia and Lao.
ASEAN Community is comprised of three primary pillars, namely the ASEAN Political-Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community. The ASEAN Economic Community (AEC) is set up on December 31st, 2015.
One of the main purposes of AEC is to create a single market and production base in the region. Such purpose has been progressively fulfilled through the Agreement on Free Trade in Goods, Services, Investment in ASEAN and many other Programs, Initiatives, etc.
The Economic Cooperation Organization (ECO) was founded in 1985 to provide members with a platform to discuss ways to improve development as well as promote trade and investment opportunities. Around 462 million people — 6.2 per cent of the world’s population — live within the 10 member states of Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan. But at a time when the world trading system is moving towards regional economic integration, ECO remains one of the least integrated trade organisations in the world, making up only 2.1 per cent of world trade.
Execution Unit: Center for WTO and Economic Integration - Vietnam Chamber of Commerce and Industry
Execution Time: March 2017