ASEAN economic ministers to discuss establishment of AEC

Economic ministers from the Association of Southeast Asian Nations (ASEAN) members will meet at the end of the month in Malaysia to discuss crucial matters on the establishment of the ASEAN Economic Community (AEC), a government official said Wednesday.

The meeting, from Feb. 28 to March 1, is one of several meetings held in conjunction with Malaysia's chairmanship of ASEAN 2015, Malaysia's International Trade and Industry Minister Mustapa Mohamad told reporters in the country's northeastern city of Kota Bharu.

Mustapa who will chair the meeting said the gathering will enable ASEAN economic ministers to assess and take stock of overall achievements in regional integration and discuss new initiatives.

"This meeting is critical as the ministers will focus on ensuring that all core economic integration measures as stipulated in the AEC blueprint substantially are realized.

"This AEC is set to come into effect on Dec. 31 this year and is aimed at creating a single market and production base in the region to further bolster ASEAN's progress and prosperity," he said.

Mustapa said the ministers are also expected to provide guidance on the draft of the Post-2015 Economic Vision and Plan for ASEAN.