a. While the ASEAN region as a whole is a much smaller economy compared to the US, the EU, and Japan. Its economy is growing much faster than all these. This accounts for the growth in its influence both in the region and beyond.
b. ASEAN has focused on creating a “Free trade Area for investment, labour, and services. The US and China have already moved fast to negotiate FTAs with ASEAN.
c. ASEAN is rapidly growing into a very important regional organization. Its vision 2020 has defined an outward-looking role for ASEAN in the international community. This builds on the existing ASEAN policy to encourage negotiation over conflict in the region. Thus ASEAN has mediated the end of Cambodian conflict and the east Timor Crisis.
d. The current economy strength of ASEAN, especially its economy relevance as a trading and investment partner to the growing ***** economy such as India and China, makes this an attractive proposition
