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The main purpose of ASEAN (Association of South-East Asian Nations) is
- a)to accelerate economic progress and maintain economic stability
- b)to maintain higher standards of living among member nations
- c)to provide collective defence and economic cooperation
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
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The main purpose of ASEAN (Association of South-East Asian Nations) is...
The ASEAN Declaration states that the aims and purposes of the Association are:
(1) To accelerate the economic growth, social progress and cultural development in the region through joint endeavors in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of Southeast Asian nations, and
(2) To promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries in the region and adherence to the principles of the United Nations Charter.
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The main purpose of ASEAN (Association of South-East Asian Nations) is...
The main purpose of ASEAN (Association of South-East Asian Nations) is to accelerate economic progress and maintain economic stability. ASEAN was formed on 8 August 1967 with the signing of the ASEAN Declaration (Bangkok Declaration) by its founding members - Indonesia, Malaysia, Philippines, Singapore, and Thailand. The organization has since expanded to include Brunei, Cambodia, Laos, Myanmar, and Vietnam, making it a ten-member regional organization.
Economic Progress and Integration:
- ASEAN aims to accelerate economic progress by promoting regional economic integration. The organization has established the ASEAN Economic Community (AEC) with the goal of creating a single market and production base, allowing for the free flow of goods, services, investment, and skilled labor within the region.
- ASEAN has implemented various initiatives and agreements to facilitate trade and investment among member nations. These include the ASEAN Free Trade Area (AFTA), which aims to reduce tariffs and barriers to trade, and the ASEAN Investment Area (AIA), which promotes investment flows and protection.
- The organization also promotes economic cooperation through initiatives such as the ASEAN Infrastructure Fund, which supports infrastructure development in the region, and the ASEAN Single Window, which streamlines customs procedures to facilitate trade.
Maintaining Economic Stability:
- ASEAN seeks to maintain economic stability within the region. It promotes macroeconomic stability through policy coordination and cooperation among member nations. This includes exchanging information and best practices on fiscal and monetary policies, as well as addressing financial and currency stability.
- ASEAN also works to enhance regional financial cooperation through initiatives such as the Chiang Mai Initiative Multilateralization (CMIM), which provides a financial safety net to member countries in times of crisis.
- The organization promotes inclusive and sustainable economic development, aiming to reduce poverty and bridge the development gap among member nations. It focuses on promoting social progress and improving the quality of life for the people of ASEAN.
In conclusion, the main purpose of ASEAN is to accelerate economic progress and maintain economic stability. Through initiatives such as economic integration, trade facilitation, and policy coordination, ASEAN aims to promote regional economic growth and enhance the well-being of its member nations.
Economic Progress and Integration:
- ASEAN aims to accelerate economic progress by promoting regional economic integration. The organization has established the ASEAN Economic Community (AEC) with the goal of creating a single market and production base, allowing for the free flow of goods, services, investment, and skilled labor within the region.
- ASEAN has implemented various initiatives and agreements to facilitate trade and investment among member nations. These include the ASEAN Free Trade Area (AFTA), which aims to reduce tariffs and barriers to trade, and the ASEAN Investment Area (AIA), which promotes investment flows and protection.
- The organization also promotes economic cooperation through initiatives such as the ASEAN Infrastructure Fund, which supports infrastructure development in the region, and the ASEAN Single Window, which streamlines customs procedures to facilitate trade.
Maintaining Economic Stability:
- ASEAN seeks to maintain economic stability within the region. It promotes macroeconomic stability through policy coordination and cooperation among member nations. This includes exchanging information and best practices on fiscal and monetary policies, as well as addressing financial and currency stability.
- ASEAN also works to enhance regional financial cooperation through initiatives such as the Chiang Mai Initiative Multilateralization (CMIM), which provides a financial safety net to member countries in times of crisis.
- The organization promotes inclusive and sustainable economic development, aiming to reduce poverty and bridge the development gap among member nations. It focuses on promoting social progress and improving the quality of life for the people of ASEAN.
In conclusion, the main purpose of ASEAN is to accelerate economic progress and maintain economic stability. Through initiatives such as economic integration, trade facilitation, and policy coordination, ASEAN aims to promote regional economic growth and enhance the well-being of its member nations.
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The main purpose of ASEAN (Association of South-East Asian Nations) isa)to accelerate economic progress and maintain economic stabilityb)to maintain higher standards of living among member nationsc)to provide collective defence and economic cooperationd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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