AEC – Your next opportunity?
Next Opportunity : ASEAN Economic Community (AEC)
ASEAN is a diverse and economically dynamic grouping of 10 Asian countries, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myammar, Philippines, Singapore, Thailand, Vietnam. The ASEAN Economic Community (AEC) is envisioned to be the realization of ASEAN economic integration by 2015.
Under the tag line “One Vision, One Identity, One Community”, AEC has captured attention of the world.
Important statistics to suggest your company should not ignore the opportunity of AEC
- 620 Million collective population
- USD 2.5 Billion combined GDP in 2014, forecast to grow to USD 3.4 Billion in 2020
- USD 608 Billion total trade in 2013, forecast to grow to USD 1,151 Billion in 2020
- 3.2% share of global GDP
- 7th largest collective economy in the world, after US, China, Japan, Germany,UK and India
- Forecast real GDP grow at 5% y-o-y from 2014 – 2020
- By 2020, 4 out of 15 top smartphone markets will be in ASEAN
- By 2020, Intra-Asean trade of USD 1,151 Billion is equivalent to forecasted total trade of North America(355 Billion) + Europe(498 Billion)+ Latin and Central America(124 Billion) + Ocenia(120 Billion) combined.
Source : Accenture Research, Asean.org
It is envisioned the five fundamental freedoms of free flow of goods, services, investments, capital and skilled labour will lead to real business impact. Your company can tap into this business opportunity via franchising, importing or exporting goods or services.