SOUTHEAST ASIA IS CONSIDERED TO be one of the most dynamic regions in the world because of its collective GDP growth and resilience in the face of global economic challenges over the last five years. Some estimates predict that the nominal GDP of the region will double by 2020 from US$2 trillion to about US$4.7 trillion. Such estimates substantially factor in the planned closer integration of the regions economy by 2015. The ASEAN Economic Community (AEC) plans to create a single market and production base; a highly competitive economic region; a region of equitable economic development; and, a region fully integrated into the global economy. Although its full implementation remains to be seen, several initiatives have been underway for some time now, including the ASEAN Free Trade Agreement.
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