Association of Southeast Asian Nations - ASEAN

DEFINITION of 'Association of Southeast Asian Nations - ASEAN'

An organization of countries in southeast Asia set up to promote cultural, economic and political development in the region. ASEAN was officially formed in 1967 with the signing of the Bangkok Declaration.

BREAKING DOWN 'Association of Southeast Asian Nations - ASEAN'

The original five members included Indonesia, Malaysia, Philippines, Singapore, and Thailand. Since its formation, ASEAN has been growing slowly, and more countries in the region have gained membership. Through co-operation the goal of the organization is to increase the welfare of the people in the region, both economically and culturally.

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