ASEAN Positions itself as Asia’s “Third Force”
Southeast Asia has become an overshadowed success story of the modern era. In two generations, the region has risen from poverty and is moving towards a great prosperity through greater integration as seen by the ASEAN Economic Community. By 2030, 64% of the world’s affluent middle class will be in Asia. It will become vital for businesses to match consumers’ demands and make shopping more convenient.
“International retailers entering Southeast Asia want a one-stop solution that involves ecommerce and offline channels to sell their products. Why? Because customers care about convenience, it’s no longer a question of whether to go online or offline, brands need both to stay competitive.”– Paul Srivorakul, aCommerce Group CEO
A Brief History of ASEAN
The Association of Southeast Asian Nations (ASEAN) was established on August 8, 1967 in Bangkok, Thailand, with the signing of the Bangkok Declaration by the five founding nations, Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam joined in January 1984, Vietnam in July 1995, Laos PDR and Myanmar in July 1997, and Cambodia in April 1999.
“For any organization, or any country or society, innovation begins with a ‘mindset’. There needs to be an openness, a willingness to continue to move forward, to embrace change and to find and develop better, more efficient solutions in order to grow and improve.” John Riady, Executive Director, Lippo Group
ASEAN positions itself as Asia’s “Third Force”
The establishment of the AEC aims to create a unified economic block that can compete for a greater share of the direct investment flowing into and around the Asia Pacific, and position itself as the “third force” after India and China. AEC also seeks to provide the populations of each country with greater employment opportunities, enhanced infrastructure and improved social integration.
In addition to attracting more investment and more business to Southeast Asia, the AEC will seek to increase regional economic prosperity, stability and critically reduce the development gaps between its members.
ASEAN Member Countries
“ASEAN is one of the success stories of the modern era. In two generations it has risen from poverty to prosperity. In doing this, ASEAN has set an example for developing countries around the globe that aspire to economic progress.” David Lipton, Deputy Managing Director, International Monetary Fund.
Read more about market expansion and the Asian region in the Global Market Expansion Services DKSH Report 2015.