Following the establishment of the ASEAN Economic Community in 2015, Southeast Asia remains poised to become the world’s third largest free-trade bloc, ushering in a host of new economic opportunities for companies with a presence on the ground.
Yet it is not an easy deal for the 12 partners, despite potential benefits
The introduction of the AEC in 2015 will usher in an important new economic era and area. With a range of ambitious objectives, the new economic community has the potential to be a significant player in the global economy. But what of the essential plumbing that underpins an economic venture like the AEC - i.e. the payment infrastructure? Vengadasalam Venkatachalam, Head of Product Management South East Asia at HSBC, examines the current payment environment in ASEAN and the changes envisaged, if the infrastructure is to facilitate growth within the AEC and beyond.
ASEAN has seen respectable growth over the last two to three years. However, with the introduction of the ASEAN Economic Community (AEC) due in 2015, hopes are high in some ASEAN countries for appreciable additional growth. Su Sian Lim, ASEAN Economist at HSBC, casts an eye over some of ASEAN’s most interesting economies, their future prospects, and those of the AEC.