Singapore economy stands to gain from Asean Economic Community

[SINGAPORE] The creation of the Asean Economic Community (AEC) has potentially significant consequences for the Singapore economy, say experts.

Asean leaders on Sunday established the AEC, one of whose aims is to promote freer movement of trade and capital in the region. The community will come into effect on Dec 31. Mr Guy Harvey-Samuel, chief executive of HSBC Singapore, said that if the AEC is well implemented, Singapore's GDP would be 9.5 per cent higher by 2030 compared to if there was no such community.

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