ASEAN leaders sign landmark deal to establish Community
15:11 | 22/11/2015
VGP – ASEAN leaders signed the Declaration on the establishment of the ASEAN Community this morning in Kuala Lumpur, Malaysia, marking a landmark in the development history of the bloc.

PM Nguyen Tan Dung (second from the left) signs the Kuala Lumpur Declaration on the establishment of the ASEAN Community in Malaysia on November 22, 2015. Photo: VGP

Accordingly, ASEAN’s ten member countries will be a single market and production base since January 1 next year, further opening up the market that has a combined population of 630 million.

More than 70 percent of products made in ASEAN will have zero tariffs. This free movement of goods and services is expected to bring down prices of raw materials and cost of production.

Eight professions including doctors, nurses and accountants will be able to work in any ASEAN member country.

Above all, the AEC can tap on a huge consumer market of more than 630 million people, with half below the age of 30. With growing awareness of its benefits, more businesses are anticipating the rollout of the Community.

The Declaration affirms the commitments of the member countries to ASEAN Charter, reflecting the joint aspiration and will to live in the region of long lasting peace, security, stability, sustainable development, prosperity and social progress.

The formation of the ASEAN Community is a milestone in the regional connectivity process that helps ensure long lasting peace, security and self reliance in the region, according to the Declaration.

The Declaration also stresses the common wish of ASEAN member countries to work towards a law-based, people-centered Community.

The regional leaders pledge to realize the Community by reforming working methods and coordination, improving the effectiveness and efficiency of all ASEAN organs, including the ASEAN Secretariat./.

By Hai Minh

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