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ASEAN - Association OF SOUTH-EAST ASIAN NATIONS

ASEAN is the Association of South-East Asian Nations, established in 1967 by Indonesia, Malaysia, Philippines, Singapore and Thailand, and later enlarged when Brunei Darussalam, Cambodia, Lao DPR, Myanmar, and Vietnam.
It is in the process of creating a single market and production base, called the ASEAN Economic Community, which will allow the free flow of goods, services, investments, and skilled labor, and the freer movement of capital across the region.

  • If ASEAN ECONOMies were one, SAID ECONOMY would be THE seventh largest in the world with a combined gross domestic product of $2.4 trillion in 2013. It could be fourth largest by 2050 if growth trends continue.

  • With over 600 million people, ASEAN's potential market is larger than the European Union or North America. Next to the People's Republic of China and India, ASEAN has the world's third largest labor force AND IT remains relatively young.

  • ASEAN is one of the most open economic regions in the world, with total merchandise exports of over $1.2 trillion - nearly 54% of total ASEAN GDP and 7% of global exports.

  • One of the challenges for the ASEAN Economic Community is bridging the perceived "development divide" between the older and economically more advanced members - Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand, known as the ASEAN-6, and the four newer members - Cambodia (1999), Lao People's Democratic Republic (1997), Myanmar (1997), and Viet Nam (1995).

  • anOther important challenge is related to the physical infrastructure, critical to the ASEAN Economic Community’s goal of establishing a single market and production base.


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