The ASEAN Leaders endorsed the ASEAN Economic Community (AEC) Blueprint in November 2007.

The AEC marked the commitment of ASEAN leaders to build and promote an integrated market and production base; a highly competitive economic region tempered with equitable development; and a region fully integrated into the global economy. The realization of these AEC goals is to be achieved by the end of 2015. The 2015 timeline is a self-imposed deadline by the 10 ASEAN Member States (AMS) towards the realization of the common goal to create an AEC by facilitating free flow of goods, services, investments freer flow of skilled labour and capital.

The AEC Blueprint outlines the measures that ASEAN will need to implement over 4 phases, from 2008 to 2015. ASEAN has already implemented various measures to encourage free flow of goods, services and investments in the region. Several mutual recognition agreements have been concluded to promote freer movement of skilled people in the region. Additionally, financial integration has also been progressively implemented.

ASEAN is now in the final implementation phase of implementing the AEC Blueprint measures for the period 2014-2015. However 2015 is not the end of regional integration in ASEAN. The AEC Blueprint 2015 lays the important foundation for further deepening economic integration of ASEAN beyond 2015.

The AEC will bring benefits to the peoples of ASEAN by creating a more conducive environment through transparency, predictability and consistency for businesses to flourish. This will in turn benefit consumers who will have access to cheaper and wider range of goods and services and enjoy more extensive consumer protection. The newer AMS of Cambodia, Lao PDR, Myanmar and Viet Nam stand to gain through the many opportunities for production networks created by an AEC and the productivity-enhancing effects as AEC emphasises best practices.