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Association of Southeast Asian Nations (ASEAN)

Definition

ASEAN is an international organization established in 1967 by the economies of Indonesia, Malaysia, the Philippines, Singapore, and Thailand to accelerate economic growth and social progress among its members.

Analogy

Think of ASEAN as a sports team where each player represents a different Southeast Asian country. They all have their individual strengths but they work together to win games (or in this case, achieve common goals like economic growth and peace).

Related terms

Economic Integration: The unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade.

Regionalism: A political ideology that focuses on the interests of a particular region or group of regions within a state or on the interests of the region itself at international level.

Free Trade Area: A region where a group of countries has signed a free trade agreement, eliminating tariffs and import quotas between themselves.