Recently became one of some economi

Recently became one of some economic regional organization which adopted a Single Market as a goal, AEC has its own way to create a Single Market with separated characteristics.
In Bali Concord II, the ASEAN Economic Community is described to become a single market and production base to allow goods, services and production factors i.e capital, investment and labor to flow freely within the region in order to achieve upper economic integration level and institutional advancement. The detail steps, however, were not mentioned in this declaration. Instead, “a single and coherent blueprint for advancing the AEC by identifying the characteristics and elements of the AEC by 2015” was submitted and approved in the ASEAN Economic Ministers Meeting (AEM) held subsequently in August 2006 in Kuala Lumpur.