ASEAN

The Association of Southeast Asian Nations

1967 • Economic

•Political
• Social • COOPERATION

• Cultural
 Members

• Philippines
• Brunei
• Thailand
• Vietnam
• Singapore
• Myanmar
• Indonesia
• Cambodia
• Malaysia
• Laos
• ASEAN's purpose is to form a common market similar to the 
European Union.
• It is working toward free movement of goods and services, investment and
capital, as well as skilled labor. It will also create common standards in
agriculture and financial services, intellectual property rights, and consumer
protection. These are all necessary to attract foreign direct investment and
promote growth. AEC has identified 611 measures it must implement to
achieve its goals.
Objectives and Purpose
• Economic growth
• Social Progress
• Cultural Development
• Promote regional stability

In 1995, the ASEAN Heads of State and Government re-affirmed

that , “Cooperative peace and shared prosperity shall be the
fundamental goals of ASEAN.”
 ASEAN countries are active in
regional and global trade

1994
ASEAN FREE TRADE AREA (AFTA)
Decreasing tariffs of 20% or more- no
more than 5%
 Impact in Global Economy
The establishment of an ASEAN Economic Community with its
commitment to a free flow of goods, services, and mobility of people
has also made the regional bloc more competitive and resilient amid
a slowdown in the global economy and trade.

1996, intra-ASEAN trade surpassed $70 billion

How important is the region economically?
• If ASEAN were a country, it would be the seventh-largest economy
in the world, with a combined GDP of $2.6 trillion in 2014. By
2050 it's projected to rank as the fourth-largest economy.
• Home to more than 622 million people, the region has a larger
population than the European Union or North America. It also has
the third-largest labour force in the world, behind China and India.
STANDING OF ASEAN IN
GLOBAL ECONOMY
PH
INTEGRATION