Illustrative image (Source: reamstime.com)

Hanoi (VNA) - An international scientific seminar on development process of the ASEAN Economic Community took place in Hanoi on August 13.

The event was jointly organised by the Vietnam Institute for Economic and Policy Research (VEPR) of the University of Economics and Business - Vietnam National University Hanoi and the Institute for Democracy and Economic Affairs (IDEAS) of Malaysia.

Participants to the event agreed that ASEAN is one of the successful models in terms of regional cooperation in particular and among developing countries worldwide in general.

The ASEAN Economic Community is gradually being strengthened, they said.

According to a report of IDEAS, Singapore, Vietnam and the Philippines are pioneering countries in the group in promoting regional cooperation and international integration, especially within the framework of new generation free trade agreements.

Some new forecasts and challenges on economic cooperation prospects within the ASEAN Economic Community were put forth at the event.-VNA