Why was ASEAN formed?
- ASEAN was formed to accelerate the economic growth.
- For social progress and cultural development in the region.
- These can be done by joint endeavours in the spirit of equality and partnership.
It is a regional grouping that promotes economic, political, and security cooperation among its ten members:
It was established in 1967 on August 8 by five countries Indonesia, Malaysia, Philippines, Singapore, and Thailand.
It was formed to create a common front against the spread of communism and promote political, economic stability amid rising tensions in the Asia Pacific.
Then Cambodia, Myanmar, Brunei, Vietnam, Laos joined the ASEAN. There six dialogue partners joined the ASEAN, China, Japan, India, New Zealand, Australia, and India.
The ASEAN Countries expect to gain from FTA, as it reduces tariff and non-tariff barriers. Foreign trade is vital for ASEAN Countries following Globalisation.
The ASEAN meeting is held once in three years. The Heads of Governments of members are the highest forum for ASEAN cooperation. The ASEAN ministerial meeting of Foreign ministers is the next highest decision-making body.
India’s relationship with ASEAN started in 1992. India became the “Sectoral Dialogue Partner” of ASEAN. Due to the geographic structure of these countries with India, it helps faster exports and low-cost freights.
Purpose and Aim of ASEAN Declarations
- To make faster economic growth, social and cultural development in this region.
- For region peace and security.
- Adherence to United Nations Charter principles.
- Exchange of knowledge and experience in public sector auditing.
- Research, Training and education facilities among members
- Exchange of information between ASEAN members with International organizations.
Functions of ASEAN
- To promote free movement of goods, services, and investment like the European Union.
- Improving business competitiveness between businesses from different countries.
- Narrow development gaps between member countries.
- Make opportunities for market and investments for member nations.
India and ASEAN
India became a sectoral dialogue partner of ASEAN in the year 1992 and also became a member of the ARF ( ASEAN Regional Forum) in the year 1996.
ASEAN and India holding the meetings at the summit level since 2002 on an annual basis. Also, India signed FTA( Free trade Agreement) with Thailand, which is also a member of ASEAN.
Japan and ASEAN
Japan and ASEAN have to build a cooperative partnership for peace and development of both parties for more than 30 years. Also, there was a jointed declaration signed between the both for the Cooperation to combat terrorism and Transnational Crime in the year 2014.
Who are the 10 ASEAN countries?
Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
What is the term ASEAN way used for?
“ASEAN has sought to manage the diverse needs of its members by a process known as ‘the ASEAN way’. This means to seek to make a consensus on several problems and adhere to principles of non-interference in the internal affairs of its members.
Also, Check International Monetary Fund