The ASEAN Economic Community—AEC—is not intended to be a customs union. Rather, while goods can move freely within the 10 member states, each country will determine its external tariff policy with respect to non-member countries.
The AEC will remain a work-in-progress beyond 2015, as it involves many separate agreements that will require negotiations beyond 2015.
The following points provide a brief status update of AEC initiatives:
Read a November 2015 report prepared by the KPMG member firm in Singapore: What the AEC 2015 target means for businesses in ASEAN?
For more information, contact a professional with KPMG’s Trade & Customs practice:
Douglas Zuvich | +1 (312) 665-1022 | email@example.com
Andrew Siciliano | +1 (631) 425-6057 | firstname.lastname@example.org
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