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Submitted To:Mr. Liaqat Ali Submitted By:Mohammad Qasim Roll No.: 120426169
Introduction
The Association of Southeast Asian Nations 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. The Membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam. ASEAN covers a land area of 4.46 million km, which is 3% of the total land area of Earth. It has a population of approximately 600 million people, which is 8.8% of the world's population. In 2010, its combined nominal GDP had grown to US$1.8 trillion. It ranked as the 10th largest economy in the world behind the United States, China, Japan, India, Germany, Russia, France, Canada, Spain, Brazil, the United Kingdom, and Italy.
Formation
ASEAN was preceded by an organization called the Association of
Southeast Asia, commonly called ASA, an alliance consisting of the Philippines, Malaysia and Thailand that was formed in 1961.
The bloc itself, however, was established on 8 August 1967, when
foreign ministers of five countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand met at the Thai Department of Foreign Affairs building in Bangkok and signed the ASEAN Declaration, more commonly known as the Bangkok Declaration.
The five foreign ministers Adam Malik of Indonesia, Narciso Ramos
of the Philippines, Abdul Razak of Malaysia, S. Rajaratnam of Singapore and Thanat Khoman of Thailand are considered the organization's Founding Fathers.
Expansion
On 28 July 1995, Vietnam became the seventh member. Laos and Myanmar (Burma) joined two years later on 23 July 1997. Cambodia was to have joined together with Laos and Burma, but was
deferred due to the country's internal political struggle. The country later joined on 30 April 1999, following the stabilization of its government.
Goals of ASEAN
To accelerate the economic growth, social progress and cultural
Objectives of ASEAN
Mutual respect for the independence, sovereignty, equality,
Map of ASEAN
ASEAN Summit
The ASEAN Summit is an annual meeting held by the member of the
Association of Southeast Asian Nations in relation to economic, and cultural development of Southeast Asian countries.
The formal summit are held in three days.
In this summit they talk about future plans, fluctuation and poverty in
Association of Southeast Asian Nations supporting local manufacturing in all ASEAN countries.
Goals
Increase ASEAN's competitive edge as a production base in the
world market through the elimination, within ASEAN, of tariffs and non-tariff barriers and Attract more foreign direct investment to ASEAN
Imports
974,789.6
Exports
1,242,286.4
Imports
1,146,305.9
Total trade
2,388,592.3
Total Trade
2,400,000.00 2,300,000.00 2,200,000.00 2,100,000.00 2,000,000.00 1,900,000.00
1,800,000.00
2010 2011
2,432.8
Malaysia 198,800.8 Myanmar 7,599.5 The Philippines
2,076.4
164,733.5 4,198.7
4,509.1
363,534.3 11,798.3
1,746.5
228,179.1 8,119.2
2,209.4
187,542.8 6,805.9
3,955.9
415,721.9 14,925.1
51,431.7
Singapore 371,194.3 Thailand 195,312.3 Viet Nam
58,228.6
328,078.9 189,728.4
109,660.3
699,273.3 385,040.8
48,042.2
409,443.5 228,820.7
63,709.4
365,709.1 230,083.6
111,751.6
775,152.6 458,904.4
72,191.9
84,801.2
156,993.1
95,365.6
104,216.5
199,582.1
China
Exports 127,908.5
USA
Republic of Korea Hong Kong 106,305.6 54,468.0 92,480.3 70,002.9 81,312.9 33,650.7 15,402.1 47,214.9 India 42,754.7 Australia 37,253.9 22,220.5 25,674.1
Taiwan
Japan
China EU-27 USA India Australia Taiwan Total top ten destination countries Others2/
145,197.7
127,908.5 126,593.5 106,305.6 42,754.7 37,253.9 33,650.7 1,082,977.3 159,309.1
11.7
10.3 10.2 8.6 3.4 3.0 2.7 87.2 12.8
Total
1,242,286.4
100.0
India-ASEAN Relation
ASEAN-India relations have grown rapidly from a sectoral dialogue
they just give permission to do trade with them and make a look on their policies and economies.
During 1990 to 2005, the total value of trade between India and
ASEAN countries has gone up from US$2.4 billion in 1990 to US$23 billion by the end of 2005. And now it goes up to US 68.8 billion.
Area of trade: palm oil, electrical and high-end technological
components, chemical products and drugs, textiles, software, tea and coffee, both raw and processed meats automotive, chemicals, consumer electronics and retailing sectors and so on.
-5000
2002-03 India's export 4627.7 india's import 5160.3 trade balance -532.6 -10000 2003-04 5825.7 7438.2 -1612.5 2004-05 8422.4 9110.9 -688.5 2005-06 10409.8 10882.1 -472.3 2006-07 12605.2 18091.6 -5486.4 2007-08 15721.2 22669.7 -6948.5
Cereals
Food Residues & Animal Fodder Mineral Fuel & Oils
161.06
331.00 1,185.22
1903.91
226.46 441.99
Organic Chemicals
Cotton Manmade Filaments Precious Stones
348.49
123.17 136.00 415.74
Wood Articles
Books & Scripts Machinery & Appliances Electrical Machinery
505.07
134.55 1,127.80 779.86
390.44
298.52 182.69
Aircraft Parts
Ships, Boats Ores, Slag & Ash
119.55
279.68 124.30
Japan-ASEAN Relations
Japan's formal relationship with ASEAN dates back to 1977, when
then Prime Minister Takeo Fukuda met with ASEAN leaders at the organization's second summit meeting in Kuala Lumpur.
The 1997 Asian financial crisis highlighted the interdependence of the
region's economies and led to the establishment of the ASEAN+3 (Japan, Korea, and China).
Japans trade with ASEAN in year 2000 it was 92,592,621 and by the
``My generation and that of my elders cannot forget [WWII] as long as we live ``The policy of our government is not to allow the unhappy experiences of the past to inhibit us from a policy which can enhance our growth rates by Japanese participation
asset bubbles.
The US increased interest rates to reduce inflationary pressures.
Higher interest rates in the US, made the East less attractive as a place to move hot money flows.
China-ASEAN Relations
The ASEANChina Free Trade Area (ACFTA) agreement was signed on 4 November 2002 with the intent on establishing a free trade area among the eleven nations. The ASEANChina Free Trade Area is the largest free trade area in terms of population and third largest in terms of nominal GDP. ASEAN members and the People's Republic of China had a combined nominal gross domestic product of approximately US$6 trillion in 2008. The free trade area had the third largest trade volume after the European Economic Area and the North American Free Trade Area. Between 2003 and 2008, trade with ASEAN grew from US$59.6 billion to US$192.5 billion. China is also the world's largest exporter. And become the Largest Trading Partner of ASEAN. It had overtaken Japan, The US and EU.
Total Trade
250,000 200,000 150,000 100,000 50,000 0 1998 2010
EU-ASEAN Relations
The EU is Free Trade Agreements with Singapore, Malaysia and Vietnam. ASEAN as a whole represents the EU's 3rd largest trading partner outside Europe with more than 206 billion of trade in goods and services in 2011. The EU is ASEAN 2nd largest trading partner, accounting for around 11% of ASEAN trade. The EU is by far the largest investor in ASEAN countries. EU companies have invested around 9.1 billion annually on average (2000-2009). The EU's main exports to ASEAN are chemical products, machinery and transport equipment. The main imports from ASEAN to the EU are machinery and transport equipment, agricultural products as well as textiles and clothing.
2009
2010 2011
68.0
87.0 93.3
50.1
61.1 68.4
-17.9
-25.8 -24.8
USA-ASEAN Relations
The United States and ASEAN members (Brunei, Burma, Cambodia,
Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam) concluded a TIFA in August 2006 and since then have been working to build upon already strong trade and investment ties to further enhance their economic relationship.
The ASEAN countries collectively became the fourth largest U.S.
billion in 2010.
U.S. goods exports in 2010 totaled $70.4 billion, up 31% since 2009. U.S. goods imports from ASEAN were $ 107.8 billion in 2010, up 17
% since 2009.
U.S. services exports in 2009 to ASEAN totaled $15.9 billion, down
down.
Criticism of Asean
The lack of transparency. Too soft in promoting human rights. Allowing human rights violations to occur in Myanmar and refused to
violations in Myanmar.
International observers view it as a "talk shop" which means "big on
What are the reasons that trade of ASEAN is going up day by day? Why it is the fastest growing Trade bloc? Answer is
Less Labor Cost is inviting all the world for investment. Labor is the main factor of production and a big part of capital is taken by Labor. But the ASEAN countries are not developed countries so the labor cost in these countries is very low. ASEAN has population of 600 million which means huge market for consumption. Due to the Low Currency Rate of member countries of ASEAN. AFTA (Asean Free Trade Agreement) also helps in trade of ASEAN which means any one can freely trade with ASEAN countries with out or very less Tarrifs. The region offers a rich investment opportunity due to its strong demographic dividend. A young growing population with strong income levels and low consumer debt-to-GDP are the growth drivers . ASEAN contributes to 87 per cent of world's crude palm oil production and 82 per cent of the world's rubber production. Indonesia is ranked third amongst the world's top five regions with the highest overall mining potential
Cont.
FISCAL MANAGEMENT, the world were affected by the global financial crisis of 2008, Asean countries faced an equally severe crisis during the Asian financial crisis of 1997. However, fiscal management and implementation of austerity measures have seen these countries moving from a fiscal deficit situation in 1997 to a fiscal surplus situation now. Significant agricultural market.
Conclusion
After 40 years, many consider ASEAN to be very successful
in part because of the ongoing stability in the region. Instead of worrying about military conflict, its member countries have been able to focus on development of their political and economic systems.
ASEAN is the fastest growing rate other than any trade bloc. AFTA helps ASEAN for trading with new countries. ASEAN trade in 99 goods and services and in 220 countries. Figures of ASEAN going up day by day and Its future is also seeing very bright. It just not helps in GDPs of its member states but also the countries who make trade with ASEAN.
Despite any objections, ASEAN is well on its way to full economic integration and is making great strides to fully assert itself on the world market.
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