The Dej-Udom & Associates Newsletter for February 2016
ASEAN Economic Community News
In February, leaders of the ten ASEAN nations and the President of the United States met for the first US-ASEAN Leaders Summit – the first ever held in the US and the first since the establishment of the ASEAN Economic Community. At the conclusion of the Special Leaders Summit, a joint US-ASEAN statement, the Sunnylands Declaration, was signed. The 17-paragraph Sunnylands Declaration lists the key principles that will guide US-ASEAN cooperation going forward and is meant to provide the most comprehensive framework for strategic and security cooperation between ASEAN and the US thus far.
Top Digital Economy
In a recent report, a global management consulting firm and a leading Asian telecommunications company maintain that the ASEAN region has the potential to become one of the world’s top five digital economies by 2025. The authors believe that the region is set to be at the forefront of the coming digital revolution and that many fundamentals for the growth are already in place. A robust digital economy could add US$1 trillion to the ASEAN GDP over the next 10 years.