Besides, in the time of economic globalisation and after it was hit hard by the Asian financial crisis, forming an economic community will help Southeast Asia boost its economic competitiveness and attractiveness to investors inside and outside the region (Almonte, 2006). In a 2003 study done for the ASEAN economic ministers by McKinsey & Company warned that “The region is falling behind its rivals. Turning it into a true single market would... help restore its economic luster”.