The ASEAN Economic Community and what it means for intellectual property | bilaterals.org
The ASEAN Economic Community and what it means for intellectual property
The ASEAN Economic Community and what it means for intellectual property
It is still common in the West to encounter confusion or lack of
recognition of the ‘ASEAN’ acronym that groups the Southeast Asian
nations. Not surprising really, given that there have been few memorable
ASEAN events of consequence for foreign businesses over its near 50
year history. Up until now, for most it has stood for more as an ‘on
paper’ political union over any great effects on international business.
This is set to change, as in 2015 the ASEAN Economic Community (AEC)
was officially fully established. In some ways similar to the economic
unity of the EU, the broad aims of the AEC are to develop (1) a single
market and production base, (2) a region of more equitable economic
development, and (3) a globally integrated economic region. To achieve
these, trade barriers will be removed or reduced and standards across a
number of sectors (i.e. cosmetics, pharmaceuticals, agricultural
products, and medical devices) will be harmonised.
