Assess the role of ASEAN as an economic association

1.	Assess the role of ASEAN as an economic association
Answer» ASEAN was established in 1967 by five countries of this region — Indonesia, Malaysia, the Philippines, Singapore and Thailand — by signing the Bangkok Declaration. Brunei Darussalam, Vietnam, Lao PDR, Myanmar (Burma) and Cambodia joined ASEAN taking its strength to ten. 1. ASEAN has strengthened its trading capacity , its economic relevance as a trading and investment partner to the growing Asian economies such as India and China, makes this an attractive proposition. 2. ASEAN has focused on creating a Free Trade Area (FTA) for investment, labour, and services. 3. The global powers like USA and China are already negotiating FTAs with ASEAN.

Answer»

ASEAN was established in 1967 by five countries of this region — Indonesia, Malaysia, the Philippines, Singapore and Thailand — by signing the Bangkok Declaration. Brunei Darussalam, Vietnam, Lao PDR, Myanmar (Burma) and Cambodia joined ASEAN taking its strength to ten.

1. ASEAN has strengthened its trading capacity , its economic relevance as a trading and investment partner to the growing Asian economies such as India and China, makes this an attractive proposition.

2. ASEAN has focused on creating a Free Trade Area (FTA) for investment, labour, and services.

3. The global powers like USA and China are already negotiating FTAs with ASEAN.

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