The arrival of the ASEAN Economic Community will likely be delayed
ASEAN leaders have proposed putting off the planned launch of the ASEAN Economic Community (AEC) until the end of 2015, instead of the beginning of that year, so each member state will have more time to prepare for the single market, according to Cambodian Commerce Minister Cham Prasidh, who spoke at a Sept. 18 luncheon organized by the European Chamber of Commerce in Cambodia, Eurocham. … [I]t was the finance experts, perhaps closer to the realities of economic integration, who recently proposed the delay. Their suggestion will be submitted for approval at the big ASEAN summit in November. … Many local observers have been concerned about the effects of the AEC on business in Cambodia, especially small and medium-sized enterprises (SMEs). … Despite the delay, ASEAN is still looking economically robust. While the US is experiencing sclerotic economy growth and the EU wrestles with its debt crisis, ASEAN’s economy grew at 4.7 percent in 2011. …
