ASEAN

History of ASEAN Association of Southeast Asian Nations

Formed on 8 August 1967 by:

● Indonesia

● Malaysia

● Philippines

● Singapore

● Thailand

The document signed:

● Declared ASEAN

● Cooperation in terms of

● - economics

● - social

● - cultural

● - educational

● - technical

● Midst of the Vietnam war

● Midst of the Cold War

● Threat of communism

● Gave the countries in that area a chance to speak with a united voice

● signed the “Zone of Peace, Freedom and Neutrality”

Photo credit: http://www.asean.org/asean/about-asean/asean-flag

Location Photo Credit

http://emergingequity.org/2015/05/22/

mark-mobius-a-pivotal-year-for-asean/

SizeASEAN has a population of 608

Million people

ASEAN is the 5th largest economic power in the world after the EU, USA, China and Japan.

ASEAN has a nominal GDP of 2.323T$

Third largest market in the World with more than 600M people.http://aseanup.com/asean-infographics-

population-market-economy/

3 Pillars

1.Peace

2.People

3.Prosperity http://image.slidesharecdn.com/asean-pongsak-111203024554-phpapp01/95/aseanpongsak-15-728.jpg?cb=1322881251

Motto"One Vision, One Identity, One Community".

Why is it here today?●ASEAN has become a large economic power

●Free trade agreements with;

○ China

○ Australia

○ New Zealand

○ Japan

○ India

○ Korea

Actions/Events- Who’s involved?

- apart from it’s 10 members, ASEAN has had excellent relations with the U.S.A

- they helped to guide the development of the regional relations

- What ASEAN did?

- improved Asia-Pacific trade

- political and security issuesCreated 3 Finance Cooperations- Chiang Mai Initiative Multilateralization, Asian Bond Markets Initiative, ASEAN+3 Research Group

- address short-term liquidity difficulties in the region

- supplement the existing international financial arrangements

- develop local-currency denominated bond markets

- develop more accessible and well-functioning regional bond markets both for issuers and investors

How has this affected disparity?

PositivesFree flow of goods, as of 2010, duties were eliminated on 99.2% of tariff lines for the ASEAN-6

Member States (Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand).

Committed to building an investment environment to attract businesses, hence the ASEAN

Comprehensive Investment Agreement (ACIA), which includes commitments towards the

liberalization and protection of cross-border investments operations, together with best practices for

the treatment of foreign investors and investments.

ASEAN works towards facilitating the free flow of skilled labor, the ASEAN Agreement on the Movement of Natural Persons (MNP) provides a legal framework to ease temporary cross-border movements of people engaged in the trade in goods, services and investment.

There has been an average growth of 14% since 2000 in ASEAN countries due to a steady increase in Foreign Direct Investment (FDI)

Negatives- ASEAN has a lack of diplomatic coherence, they don’t agree on their

strategic priorities, and is known to have a weak leadership. Due to these problems the group is unable to negotiate in a productive way.

- The increasing transport connectivity, such as the spread of HIV/AIDS, human and wildlife trafficking and environmental degradation.

- The global economic crisis has also negatively impacted on aid development budgets.

Bibliography- http://aseanup.com/benefits-asean-economic-community-aec/

- http://aseanup.com/asean-infographics-population-market-economy/- http://www.cfr.org/asia-and-pacific/asean-association-southeast-asian-nations/p18616 (slide 7)- http://www.asean.org/asean/about-asean/history (Slide 2)