The ASEAN Economic Community (AEC) is at the tail end of implementation of its second Blueprint, the AEC Blueprint 2025, amid times of growing uncertainties and complexities. The open, inclusive, rules-based multilateralism that lay the ground for the previous phases of ASEAN economic integration is now threatened by geostrategic competition and rising protectionism. Furthermore, the broader and deeper fragmentation of the global economy poses a significant risk to the region’s growth prospects and the economic well-being of its citizens. Against a backdrop of global supply chain reorganisation and pressures from global megatrends such as climate change and digital transformation, the AEC needs to reposition itself more strategically in terms of its role and relevance.