ASEAN-EU economic relationship: Integration and lessons for the ASEAN economic community

This paper considers the economic relationship of the Association of Southeast Asian Nations (ASEAN) and the European Union (EU), in terms of both economic integration indicators and policy lessons in light of the proposal to create an ASEAN Economic Community (AEC). It begins with a quantitative assessment of the ASEAN-EU economic relationship, followed by a contextual review of ASEAN economic integration as it evolves into the AEC. Next, we evaluate the relevant policy lessons of the European experience for ASEAN. Finally, we explore optimal objectives of the AEC and how ASEAN might go about putting policy flesh on the bones of the AEC proposal.