• ASEAN stands for Association of

Southeast Asian Nations. Established

in 8th august 1967.
• It’s a regional intergovernmental
organization comprising of ten
countries in southeast Asia.
• Formed to facilitates economic,
ASEAN political, security, military, educational
and sociocultural integration between
the members.
• It stands as one of the largest and
important free trade areas (FTA). Also
world’s largest multilateral forums and
blocs.
History
• ASEAN was formed in 1967.
• Foreign ministers of five countries signed
the ASEAN declaration commonly called
Bangkok declaration.
• In 1992 AFTA (ASEAN Free Trade Area) is
formed.
• ASEAN Regional Forum (ARF) formed in 26th
ASEAN ministerial meeting, which includes
27 states.
• Currently 10 countries are member of
ASEAN.
 • ASEAN has its origins in the Association of Southeast Asia
(ASA) constituted on 31st July 1961.
• ASEAN main purpose were about cooperation in economic,
social, cultural, technical, educational other fields.
Objectives • Also to develop regional peace, freedom and stability
through abiding respect for justice and the rule.
• To collaborate more effectively for greater utilization of
their agriculture and industries, expansion of trade
including study of international commodity trade.
ASEAN Main 4 Pillars

Single market and production base

Competitive economic region

Equitable economic development

Integration in globalized economy

Challenges faced
Geopolitical stability Governance
New business
and regional challenges for
models
relationships businesses

Growth and
Regional digital
Demographics sustainable
economy
development

Economic
integration
 • Elimination of tariffs and increasing economic
growth.
• Investment opportunities.
• Ease flow of goods and services.
ASEAN PROS • Promoting peace and stability with member
states.
• Cultural exchange
ASEAN CONS

Huge income and

Costly labor Competition
development gap

Illegal migrant
Tariff disparities
issues