Ten members gather together in Kuala Lumpur and officially establish ASEAN Economic Community.
Leaders from the ten member countries of ASEAN signed a declaration on November 22 officially establishing the ASEAN Economic Community, as part of a larger ASEAN Community that aims for political, security, cultural and social integration.
ASEAN convened its 27th Summit on November 21 in the Malaysian capital of Kuala Lumpur, with Prime Minister Nguyen Tan Dung and a Vietnamese delegation joining leaders from the ten other members.
In his opening address, Malaysian Prime Minister Najib Razak said the signing is the result of endeavors made over the course of decades towards integration, connectivity, and mutual progress. He also highlighted the achievements of ASEAN, emphasizing that without the bloc the ten individual members could not have achieved the goals and accomplishments they enjoy today.
The formation of the ASEAN Economic Community will bring many benefits to members of the bloc and their people, facilitating market access, lowering commodity and services costs with tariff eliminations, reducing unemployment, and encouraging movement between members.
Source: Vietnam News Agency