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JAKARTA, 7 October 2022 – The 8th ASEAN Economic Community (AEC) Dialogue took place on 5 October in Jakarta, Indonesia. The dialogue discussed opportunities and challenges faced by digital start-ups and explored concrete initiatives with the private sector to further enhance the ecosystem and facilitate growth of digital start-ups in ASEAN.

Background

The five founding members of ASEAN—Indonesia, Malaysia, the Philippines, Singapore, and Thailand—instituted it on August 8 in Bangkok. On January 8, 1984, Brunei Darussalam joined; on July 28, 1995, Vietnam; on July 23, 1997, Laos and Myanmar; and on April 30, 1999, Cambodia.

                                   

                         

Political Relations

According to the TAC, ASEAN political and security cooperation should work to strengthen regional resilience in order to promote regional peace and stability. A strong and viable community of states in Southeast Asia must be built on the concepts of self-confidence, self-reliance, mutual respect, cooperation, and solidarity. This is how regional resilience will be attained.

Following are a few of the key political agreements between ASEAN members:

Declaration of ASEAN, Bangkok -8 August 1967 

Zone of Peace, Freedom, and Neutrality, Kuala Lumpur -November 27, 1971

Declaration of ASEAN Concord, Bali - 24 February 1976

Treaty of Amity and Cooperation in Southeast Asia, Bali - 24 February 1976

ASEAN Declaration on the South China Sea, Manila - 22 July 1992.

    

Despite the fact that the ASEAN States primarily cooperate on economic and social issues, the organisation also serves a security role. It has a long-discussed programme for confidence-building measures and for creating a nuclear-weapons-free zone in Southeast Asia with the aim of implementing ASEAN's 1971 Declaration on a Zone of Peace, Freedom, and Neutrality (ZOPFAN) and a Southeast Asia Nuclear Weapon-Free Zone (SEANWFZ), which would be a component. 

             

Objectives of ASEAN 

According to the ASEAN Declaration, the organization's goals and objectives are to: 

1. Strengthen the foundation for a prosperous and peaceful community of Southeast Asian nations by accelerating regional economic growth, social progress, and cultural development. 
2. Promote regional peace and stability through ongoing respect for justice and the rule of law in relationships among members. The primary aims of ASEAN were reiterated by the Heads of State and Government of the ASEAN in 1995: "Cooperative peace and shared prosperity."

Development of ASEAN

• On 14 February, ASEAN expressed its grave concern over the DPRK’s test firing of on the Pukguksong-2 MRBM on 12 February 2017.

• On August 5, the ASEAN released a statement of the development in the Korean Peninsula, reiterating grave concern over the escalation of tensions in the peninsula.

• On April 29-30 the 30th ASEAN Summit was held in Manila, Philippines.

• On March 8, the ASEAN expressed its grave concern over the firing of ballistic missiles by the DPRK in the early morning of 6 March, 2017, reaffirming the importance of peace and security in the Korean Peninsula and its full support for the denuclearization of the peninsula in a peaceful manner.

• On March 2, the 24th meeting of the ASEAN-EU Joint Cooperation Committee (JCC) was held in Jakarta.

• On 1 March, the 10th meeting of the ASEAN-US Joint Cooperation Committee took place in Jakarta. Both parties discussed shared strategic priorities, including transnational crime, cybersecurity, and developments in the U.S.-DPRK relationship.

 What does the future hold?

Despite their distinct cultures, histories and languages, the 10 member states of ASEAN share a focus on jobs and prosperity. Household purchasing power is rising, propelling the region into the next frontier of consumer growth.

The region must now meet the challenges of providing enormous investment in infrastructure and human-capital development to ensure it realizes its full potential.

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