Japan welcomes the formation of the ASEAN Economic Community, or AEC, as the prosperity of the Association of South East Asian Nations is expected to also benefit Japan, the world's third-largest economy.
"Japan and ASEAN should be in a win-win relationship," said Secretary-General of the ASEAN-Japan Centre Masataka Fujita, who assumed the post in September.
The AEC, formed at the end of last year, basically means that ASEAN became a more cohesive organization and consolidated regional economic integration. ASEAN member states had already eliminated many tariffs and other barriers among ASEAN member states prior to the creation of the AEC, but will accelerate activities to further ease doing business.