Business Finance Essay Example | Topics and Well Written Essays - 1500 words - 1

Business Finance - Essay Example Union (EU) and creation of bodies such as South Asian Association for Regional Cooperation (SCCRC), North Atlantic Treaty Organizations (NATO) and Southeast Asia Treaty Organization (SEATO) are all examples of such regionalization. Association of Southeast Asian Nations (ASEAN) is also one of these organizations which have been developed to promote the interests of the whole Southeast Asia. Being a fast growing economic bloc, observers pay a special attention towards its financial worth now and in future. Here we would focus on financial implications of ASEAN being our research question, vis-Ã  -vis other blocs and in global economy as a whole. Our research method would be primarily comparative and analytical and will be based on available historical data, both in print and electronic media, as primary research does not suit the purpose. We will also deliberate upon the individual contribution of member states wherever seems necessary. ASEAN was founded on August 8, 1967. Initially, it had five member countries namely Indonesia, Thailand, Malaysia, Philippines and Singapore. Since then, five more countries have joined ASEAN namely Brunei Darussalam, Cambodia, Vietnam, Burma and Laos making it a vibrant regional organization with ten members. Together these nations look to strengthen their political, economic, social and cultural development. With the passage of time ASEAN has provided even bigger platforms for nations of the region to sit together. One of them is ASEAN plus three where three economic giants of East Asia i.e. China, South Korea and Japan also attend the meetings to further the cause of regional development. Similarly, the creation of East Asian Summit is another step towards such regional dialogue. East Asian Summit includes New Zealand, Australia and India in addition to the ASEAN plus three states making it a meeting point for 16 nation states. 5. To mutually work for the development of agricultural, industrial and trade related issues.