It is foreseen that the implementation of
the AEC in 2015/16 will offer both advantages
and disadvantages within the ASEAN region.
At its commencement, a single market and
production base within the region will evolve,
enabling free movement of goods, services and
investment as well as freer flow of capital and
skilled labor; competition policies, consumer
protection, intellectual property rights,
infrastructure development, taxation and ecommerce
will be prioritized giving benefits to
its member states; access to information,
financing, technology and human resource
development and skills will be increased
advancing small- and medium-sized
enterprises and the CLMV economies (those
of the four late starters, also commonly
referred to as ASEAN-4 countries, Cambodia,
Laos, Myanmar, and Vietnam); and
international practices and standards will be
adopted to maintain the region’s attractiveness
to foreign investors and within a globalized
economy (ASEAN, 2011).