The Objective and Other Factors Affecting ASEAN (Essay Sample)

The Objective and Other Factors Affecting ASEAN

Introduction
The Association of Southeast Asian Nations (ASEAN) was established in 1967 by Malaysia, Indonesia, Singapore, the Philippines and Thailand to promote economic and political cooperation and regional stability. In 1984, Brunei joined the association after getting independence from the U.K ad Vietnam joined the association in 1995 as its seventh member. In July 1997, Burma and Laos were admitted into full membership as the Association celebrated its 30th anniversary. Cambodia became the tenth member of ASEAN IN 1999.The ASEAN Declaration in that was formulated in 1967, established the principles of cooperation and peace to which ASEAN is dedicated (State.gov)
The objectives of the organization
The ASEAN Declaration has set out the aims and purposes of the organization. Firstly, the association aims to accelerate social progress, economic growth and social cultural development in the entire region. The association also aims to promote peaceful coexistence in the region and stability. It also aims at promoting mutual assistance and collaboration on matters of common interest. Another purpose of the organization is the provision of assistance to each other in the form of research and training facilities. In addition to these, the association also aims at collaborating in enhancement of agriculture and raising the standards of living of the people. Lastly, the association aims at promoting Southeast Asian studies and maintaining close and beneficial cooperation with other international organizations with similar purposes and aims. (Common and Richard 30)
The member countries and brief economic facts about each of the countries
Brunei Darussalam: Brunei had an estimated GDP of $16.56 billion in 2013.The country has a small well-to-do type of economy that relies on revenues from natural resource extraction. However, the economy comprises of a mixture of foreign and local government regulation, entrepreneurship, village tradition and welfare measures. Natural gas and crude oil account for 60 percent of GDP and more than 90 percent of exports. (Cia.gov)
Cambodia: Cambodia had an estimated GDP of $15.64 billion in 2013.The country’s GDP rose more than 7 percent per year between 2010 and 2013. Garment, agriculture, construction, tourism and agriculture have driven the growth of Cambodia. The garment industry accounts for about 70 percent of the total exports. Cambodia remains one of the poorest nations in Asia and its economic development has been hindered by high income inequality, endemic corruption, poor job prospects and limited educational opportunities. (Cia.gov)
Indonesia: Indonesia had an estimated GDP of $485 billion in 2007.It is a vast polyglot country and has been undergoing significant reforms under its current president. Its debt-GDP ratio has been reducing steadily and its foreign reserves are always high at over $50 billion. Significant reforms have been introduced in the financial sector by the government. (Cia.gov)
Laos: The government of Laos began decentralizing power and encouraging entrepreneurship in 1986.The country experienced significant growth of about 6 percent after these reforms. Laos remains a nation with an underdeveloped infrastructure especially in the rural areas. The country has no a rudimentary road system, railroads and limited internal and external telecommunications. Subsistence agriculture accounts for about 40 percent of GDP and avails 80 percent of the employment. The economy depends on aid from international donors.