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Assess the role of ASEAN as an economic association.

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Role of ASEAN as an economic association : 

• The economy of ASEAN regions 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.

• ASEAN is trying to create a common market and production base within the ASEAN states. 

• A mechanism is being evolved to settle and resolve the economic disputes. 

• ASEAN has focused on creating a free trade Asia for investment, labour and services. 

• Its vision 2020 defined an outward-looking role for ASEAN in the international community. 

• The current economic strength of ASEAN is being trading and investment partner to the growing Asian economise such as India and China, Singapore and Thailand. 

• Two ASEAN members signed FTA with India.

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