The debut of the ASEAN Economic Committee (AEC) in 2015 is strong evidence of member countries’ resolve to transform ASEAN into a common market. Nguyen Quynh Nga, Vietnamese head of the ASEAN Senior Economic Officials’ Meeting.

“The AEC affirms ASSEAN’s resolve to boost free trade, abolish trade barriers, and build a competitive, healthy and transparent business environment. ASEAN is designing a trade vision toward 2025 with 5 intertwined pillars to create a people-centered ASEAN of renovation, dynamism, and connectivity”, said Nguyen Quynh Nga, Vietnamese head of the ASEAN Senior Economic Officials’ Meeting.

Vietnamese head of the ASEAN Senior Economic Officials’ Meeting, Nguyen Quynh Nga.

Nga said Vietnam is firmly committed to the ASEAN Economic Community.

“Vietnam has completed over 90% of measures to develop the AEC, just after Singapore. We have also cut 91% of tariff lines and will abolish 98.1% by early next year,” she added.

ASEAN aims to become the 4th largest economy on the globe by 2050.