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Terms in this set (30)
Brunei Darussalam Facts
- High GDP per capita: Oil-rich nation with one of the highest living standards in Southeast Asia.
- Limited diversification: Heavily reliant on oil and gas exports, vulnerable to commodity price fluctuations.
- Government-led development: Focus on infrastructure and social welfare programs.
- Limited diversification: Heavily reliant on oil and gas exports, vulnerable to commodity price fluctuations.
- Government-led development: Focus on infrastructure and social welfare programs.
Cambodia Facts
- Rapid economic growth: Driven by garment exports, tourism, and agriculture.
- Poverty remains a challenge: Significant income inequality despite impressive economic expansion.
- Lower-middle-income status: Transitioning from agriculture-based economy towards manufacturing and services.
- Poverty remains a challenge: Significant income inequality despite impressive economic expansion.
- Lower-middle-income status: Transitioning from agriculture-based economy towards manufacturing and services.
Indonesia Facts
- Largest economy in ASEAN: Diverse and resource-rich, with potential in manufacturing, agriculture, and tourism.
- Challenges in infrastructure and bureaucracy: Obstacles to efficient economic growth.
- Growing domestic market: Rising middle class with increasing purchasing power.
- Challenges in infrastructure and bureaucracy: Obstacles to efficient economic growth.
- Growing domestic market: Rising middle class with increasing purchasing power.
Laos Facts
- Least developed in ASEAN: Primarily reliant on agriculture and hydropower.
- Rapid infrastructure development: Increased connectivity and trade potential.
- Landlocked position: Presents logistical challenges for trade and investment.
- Rapid infrastructure development: Increased connectivity and trade potential.
- Landlocked position: Presents logistical challenges for trade and investment.
Malaysia Facts
- Upper-middle-income economy: Diversified with strengths in manufacturing, services, and agriculture.
- Focus on knowledge economy: Investments in education and innovation to drive future growth.
- Income inequality and Bumiputera policies: Ongoing debate on balancing economic efficiency with affirmative action programs.
- Focus on knowledge economy: Investments in education and innovation to drive future growth.
- Income inequality and Bumiputera policies: Ongoing debate on balancing economic efficiency with affirmative action programs.
Myanmar Facts
- Transitioning economy: Moving towards a market-oriented system after decades of military rule.
- Rich natural resources: Potential in agriculture, mining, and tourism.
- Political instability and sanctions: Challenges to investor confidence and economic development.
- Rich natural resources: Potential in agriculture, mining, and tourism.
- Political instability and sanctions: Challenges to investor confidence and economic development.
Philippines Facts
- Large and dynamic economy: Strengths in services, remittances, and agriculture.
- High population growth: Pressures on infrastructure and job creation.
- BPO and tourism potential: Opportunities in outsourcing and travel sectors.
- High population growth: Pressures on infrastructure and job creation.
- BPO and tourism potential: Opportunities in outsourcing and travel sectors.
Singapore Facts
- Highly developed and open economy: Global financial and trade hub with strong infrastructure and education.
- Limited land and resources: Dependence on skilled workforce and innovation.
- Income inequality: Addressing growing gap between rich and poor.
- Limited land and resources: Dependence on skilled workforce and innovation.
- Income inequality: Addressing growing gap between rich and poor.
Thailand Facts
- Second-largest economy in ASEAN: Tourism, manufacturing, and agriculture play key roles.
- Political instability and social unrest: Impact on investor confidence and economic growth.
- Aging population: Challenges for healthcare and labor force participation.
- Political instability and social unrest: Impact on investor confidence and economic growth.
- Aging population: Challenges for healthcare and labor force participation.
Vietnam Facts
- Fastest-growing economy in ASEAN: Strong export-oriented manufacturing and agriculture sectors.
- Attracting foreign investment: Focus on infrastructure development and improving business environment.
- Land and environmental concerns: Balancing economic growth with sustainability.
- Attracting foreign investment: Focus on infrastructure development and improving business environment.
- Land and environmental concerns: Balancing economic growth with sustainability.
ASEAN Formation
1967: TIMPS
- Thailand
- Indonesia
- Malaysia
- Philippines
- Singapore
Later: BVLMC
- Brunei (84)
- Vietnam (95)
- Laos (97)
- Myanmar (97)
- Cambodia (99)
- Thailand
- Indonesia
- Malaysia
- Philippines
- Singapore
Later: BVLMC
- Brunei (84)
- Vietnam (95)
- Laos (97)
- Myanmar (97)
- Cambodia (99)
ASEAN Combined GDP
Over $3 trillion (nominal) and rapidly growing economies.
ASEAN First Declaration: Date & Location
In Bangkok, 1967.
ASEAN Aims and Purposes
- To accelerate the region's:
- economic growth
- social progress
- cultural development
- To promote regional peace and stability (by following respect for justice and the rule of law).
- economic growth
- social progress
- cultural development
- To promote regional peace and stability (by following respect for justice and the rule of law).
ASEAN Built Communities
- APSC: ASEAN Political-Security Community
- AEC: ASEAN Economic Community
- ASCC: ASEAN Socio-Cultural Community
- AFTA: ASEAN Free Trade Area
- CEPT: Common Effective Preferential Tariff
- AEC: ASEAN Economic Community
- ASCC: ASEAN Socio-Cultural Community
- AFTA: ASEAN Free Trade Area
- CEPT: Common Effective Preferential Tariff