Sponsor Area

International Organisations

Question
CBSEENPO12041225

Assess the role of ASEAN as an economic association.

Solution

Role of ASEAN as an economic association
i) The economy of ASEAN region is growing much faster than that of the US, EU and Japan. This accounts for the growth in its influence both in the region and beyond.
ii) ASEAN is trying to create a common market and production base within the ASEAN states and to aid social and economic development in the region.
iii) A mechanism is being evolved to settle and resolve the economic disputes. ASEAN has focused on creating a Free Trade Area for investment, labour and services.
iv) ASEAN is rapidly growing into a very important regional organization. It’s vision 2020 defined an outward looking role for ASEAN in the international community.
v) The current economic strength of ASEAN is being a trading and investment partner to the growing Asian economies such as India and China makes its an attractive
proposition.
vi) ASEAN’s strength, however, lies in its policies of interaction and consultation with member states, with dialogue partners, and with other non-regional organisations. Or any other relevant point.