Ministry of International Trade and Industry senior director of ASEAN Economic Cooperation Division P. Ravidran said the economic ministers believe 95 per cent is doable by end-2015.
“Ninety five per cent should mark a great achievement as nowhere in the world is there 100 per cent economic integration.
“The five per cent short-fall is said to be implemented as a priority implementation measure in 2016,” he said at the Economic Diplomacy Series 1/2015 organised by the Institute of Diplomacy and Foreign Relations (IDFR), Ministry of Foreign Affairs, Malaysia here today.
On the status of the AEC implementation, Ravidran said the overall implementation rate for Phases I to III (2008-2013) is 80.7 per cent or 334 out of 414 ASEAN-wide measures.
For ASEAN-wide Phase IV (2014-2015), he said 38.7 per cent or 82 out of 212 measures have been implemented as of December 2014.
Malaysia has implemented 85.5 per cent, or 372 out of 435 measures targeted for Phase I to III while for Phase IV, it has implemented 43.8 per cent, or 95 out of 217 targeted measures.
“The total measures for Malaysia is higher than for ASEAN as we include both ASEAN-wide and country-specific measures,” he said.
The half-day discourse aimed to share the various efforts undertaken by ASEAN and Malaysia as the Chair for ASEAN in 2015 to promote and realise the AEC.