Association of Southeast Asian Nations
Association of Southeast Asian Nations
Association of Southeast Asian Nations
ASEAN is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam making up what is today the ten Member States of ASEAN. ASEAN covers an area of 4.46 million km, 3% of the total land area of Earth, with a population of approximately 600 million people, 8.8% of the world population. In 2010, its combined nominal GDP had grown to US$1.8 trillion. If ASEAN was a single entity, it would rank as the ninth largest economy in the world.
AFTA
A Common Effective Preferential Tariff (CEPT) scheme to promote the free flow of goods within ASEAN lead the ASEAN Free Trade Area (AFTA). AFTA is an agreement by the member nations of ASEAN concerning local manufacturing in all ASEAN countries. The AFTA agreement was signed on 28 January 1992 in Singapore. When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand. Vietnam joined in 1995, Laos and Burma in 1997, and Cambodia in 1999.
The latecomers have not fully met the AFTA's obligations, but they are officially considered part of the AFTA as they were required to sign the agreement upon entry into ASEAN, and were given longer time frames in which to meet AFTA's tariff reduction obligations.
Fundamental Principles:
The principles of ASEAN are: In their relations with one another, the ASEAN Member States have adopted the following fundamental principles, as contained in the Treaty of Amity and Cooperation in Southeast Asia (TAC) of 1976: Mutual respect for the independence, sovereignty, equality, territorial integrity, and national identity of all nations;
The right of every State to lead its national existence free from external interference, subversion or coercion;
Non-interference in the internal affairs of one another; Settlement of differences or disputes by peaceful manner; Renunciation of the threat or use of force; and Effective cooperation among themselves.
ASEAN Charter
The ASEAN Charter serves as a firm foundation in achieving the ASEAN Community by providing legal status and institutional framework for ASEAN. It also codifies ASEAN norms, rules and values; sets clear targets for ASEAN; and presents accountability and compliance. The ASEAN Charter entered into force on 15 December 2008. A gathering of the ASEAN Foreign Ministers was held at the ASEAN Secretariat in Jakarta to mark this very historic occasion for ASEAN. With the entry into force of the ASEAN Charter, ASEAN will henceforth operate under a new legal framework and establish a number of new organs to boost its community-building process. In effect, the ASEAN Charter has become a legally binding agreement among the 10 ASEAN Member States.