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.

  1. Four Asian Tigers

    The high-growth economies of Hong Kong, Singapore, South Korea ...
  2. Abacus

    1. A calculation tool used by sliding counters along rods or ...
  3. Association of Latino Professionals ...

    A not-for-profit organization created to enhance opportunities ...
  4. Tiger Economy

    A nickname given to the economies of Southeast Asia. Some of ...
  5. Singapore Interbank Offered Rate ...

    The interest rate at which banks located in Asian time zones ...
  6. Emerging Market Economy

    A nation's economy that is progressing toward becoming advanced, ...
Related Articles
  1. Economics

    What Is An Emerging Market Economy?

    Emerging markets provide new investment opportunities, but there are risks - both to residents and foreign investors.
  2. Home & Auto

    Before you Buy That Home: Find a Great Realtor

    Most people think of a good realtor as a successful salesperson, but we should not assume than that's what makes a great or even a good realtor.
  3. Forex

    Trans-Pacific Partnership Agreement: Pros & Cons

    With President Obama securing fast track authority on the Trans-Pacific Partnership, the benefits for labor and capital can be examined.
  4. Investing

    What's a Multinational Corporation?

    A multinational corporation is just that – a corporation that operates in multiple nations, with a home office that coordinates global management. Being a multinational corporation is a complicated ...
  5. Investing

    What is Globalization?

    As a business term, globalization refers to the tendency of international trade, investments, information technology and outsourced manufacturing to weave the economies of diverse countries together.
  6. Credit & Loans

    5 Eurozone Acronyms Explained

    Confused by all of the new acronyms used by the media to describe the European debt crisis? We can help.
  7. Economics

    How A Eurasian Union Could Control The World's Energy

    Putin recently said that he wanted to form a Eurasian Union. What would this union look like and what affect would it have on the global economy?
  8. Insurance

    What Is The World Bank?

    You've heard of the World Bank, now find out how it functions and why some groups oppose it.
  9. Economics

    What Is The World Trade Organization?

    The WTO sets the global rules of trade. But what exactly does it do and why do so many oppose it?
  1. How do NGOs get funding?

    A non-governmental organization (NGO) is a non-profit, citizen-based group that functions independently of government. NGOs ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Zero-Sum Game

    A situation in which one person’s gain is equivalent to another’s loss, so that the net change in wealth or benefit is zero. ...
  2. Capitalization Rate

    The rate of return on a real estate investment property based on the income that the property is expected to generate.
  3. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  4. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  5. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  6. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!