Editing ASEAN (section)

==Economy==
{{See also|List of ASEAN countries by GDP|List of ASEAN country subdivisions by GDP}}

{{Static row numbers}}<!-- Read [[Talk:List_of_countries_by_GDP_(nominal)/Archive_8#Remove_European_union_please]] before removing -->
{{sticky header}}{{table alignment}}
{| class="wikitable sortable sticky-header-multi static-row-numbers" style="text-align:right;"
|+GDP statistics by country, in 2025
! rowspan="2"| Country<ref>{{cite web |url=https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD |date=11 January 2025 |title=Real GDP growth |access-date=19 January 2025}}</ref>
! rowspan=2 data-sort-type="number" | Population<br /><small>(millions)</small>
! colspan=2| GDP Nominal
! colspan=2| GDP (PPP)
|-
! data-sort-type="number" | <small>millions of<br />USD</small>
! data-sort-type="number" | per capita<br /><small>USD</small>
! data-sort-type="number" | <small>millions of<br />Int$</small>
! data-sort-type="number" | per capita<br /><small>Int$</small>
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Indonesia}}
|| 279.965 || 1,492,618 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/IDN |title=datamapper/profile/IDN DataMapper: Indonesia |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 5,250 || 4,980,000 || 17,520
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Thailand}}
|| 65.975 || 545,341 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/THA |title=datamapper/profile/THA DataMapper: Thailand |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 7,750 || 1,860,000 || 26,420
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Singapore}}
|| 5.938 || 561,730 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/SGP |title=datamapper/profile/SGP DataMapper: Singapore |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 93,960 || 918,360 || 153,610
|-
| scope="1" style="text-align: left; font-weight: normal;" ! | {{flag|Philippines}}
|| 114.161 || 507,670 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/PHL |title=datamapper/profile/PHL DataMapper: Philippines |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> ||4,440  || 1,480,000 || 12,910
|-
| scope="1" style="text-align: left; font-weight: normal;" ! | {{flag|Vietnam}}
|| 100.770 || 506,430 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/VNM |title=datamapper/profile/VNM DataMapper: Vietnam |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 4,990 || 1,760,000 || 17,350
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Malaysia}}
|| 33.460 || 488,250 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/MYS |title=datamapper/profile/MYS DataMapper: Malaysia |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 14,420 || 1,460,000 || 43,100
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Myanmar}}
|| 54.506 || 65,010 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/MMR |title=datamapper/profile/MMR DataMapper: Myanmar |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 1,190 || 292,030 || 5,330 
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Cambodia}}
|| 17.182 || 51,160 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/KHM |title=datamapper/profile/KHM DataMapper: Cambodia |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 2,950 || 150,590 || 8,680
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Brunei}}
|| 0.442 || 16,680 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/BRN |title=datamapper/profile/BRN DataMapper: Brunei Darussalam |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 37,020 || 42,820 || 95,040
|-
| scope="row" style="text-align: left; font-weight: normal;" ! | {{flag|Laos}}
|| 7.686 || 14,440 {{abbr|2025f|2025 forecast}})<ref>{{cite web |url=https://www.imf.org/external/datamapper/profile/LAO |title=datamapper/profile/LAO DataMapper: Lao P.D.R. |website=[[International Monetary Fund]] |date=11 January 2025 |access-date=11 January 2025}}</ref> || 1,850 || 78,750 || 10,110
|-
! scope="row" style="text-align: left; font-weight: normal;" ! | {{Flag|ASEAN}}
! 684.376 !! 4,249,329 !! 6,209 !! 13,022,550 !! 19,028
|}

The group sought economic integration by creating the AEC by the end of 2015 that established a [[single market]].<ref name="asil1">{{Cite web|url=http://www.asil.org/aseanevent/Sim_Intro_to_ASEAN.pdf|title=Trade & Customs Singapore : Introduction to ASEAN Economic Community|archive-url=https://web.archive.org/web/20120218183029/http://www.asil.org/aseanevent/Sim_Intro_to_ASEAN.pdf |access-date=28 July 2022|archive-date=18 February 2012 }}</ref> The average economic growth of member states from 1989 to 2009 was between 3.8% and 7%. This was greater than the average growth of APEC, which was 2.8%.<ref>{{cite web |url=http://www.thejakartapost.com/news/2011/05/11/asean-economies-past-and-future.html |title=ASEAN economies past and future |work=The Jakarta Post |date=29 July 2011 |access-date=8 August 2011 |archive-date=12 May 2011 |archive-url=https://web.archive.org/web/20110512043847/http://www.thejakartapost.com/news/2011/05/11/asean-economies-past-and-future.html |url-status=live }}</ref> The ASEAN Free Trade Area (AFTA), established on 28 January 1992,<ref name="AFTA" /> includes a Common Effective Preferential Tariff (CEPT) to promote the free flow of goods between member states.<ref name="asil1" /> ASEAN had only six members when it was signed. The new member states (Vietnam, Laos, Myanmar, and Cambodia) have not fully met AFTA's obligations, but are officially considered part of the agreement as they were required to sign it upon entry into ASEAN, and were given longer time frames to meet AFTA's tariff reduction obligations.<ref>{{cite web|url=http://www.asean.org/12021.htm |title=Overview |publisher=ASEAN |access-date=21 December 2008 |archive-url=https://web.archive.org/web/20081022142043/http://www.asean.org/12021.htm |archive-date=22 October 2008 }}</ref> The next steps are to create a single market and production base, a competitive economic region, a region of equitable economic development, and a region that is fully integrated into the global economy. Since 2007, ASEAN countries have gradually lowered their import duties to member states, with a target of zero import duties by 2016.<ref>{{cite web|title=ASEAN Economic Community (AEC) |url=http://www.miti.gov.my/cms/content.jsp?id=com.tms.cms.article.Article_b5e22087-c0a81573-aba0aba0-ab12873b |website=Ministry of International Trade and Industry (Malaysia) |access-date=12 February 2015 |date=24 April 2013 |archive-url=https://web.archive.org/web/20140820145429/http://www.miti.gov.my/cms/content.jsp?id=com.tms.cms.article.Article_b5e22087-c0a81573-aba0aba0-ab12873b |archive-date=20 August 2014 }}</ref>

ASEAN countries have many economic zones (industrial parks, eco-industrial parks, special economic zones, technology parks, and innovation districts) (see reference for comprehensive list from 2015).<ref>{{cite web|url=https://www.unido.org/fileadmin/user_media_upgrade/Resources/Publications/UCO_Viet_Nam_Study_FINAL.pdf|title=Economic Zones in the ASEAN|access-date=20 November 2016|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930053234/https://www.unido.org/sites/default/files/2015-08/UCO_Viet_Nam_Study_FINAL_0.pdf|url-status=live}}</ref>
In 2018, eight of the ASEAN members are among the world's outperforming economies, with positive long-term prospect for the region.<ref>{{cite news |title=ASEAN countries among world's outperforming emerging economies: Report |url=https://www.channelnewsasia.com/news/asia/asean-countries-among-world-s-outperforming-emerging-economies-10718216 |work=Channel NewsAsia |access-date=17 September 2018 |archive-date=17 September 2018 |archive-url=https://web.archive.org/web/20180917181637/https://www.channelnewsasia.com/news/asia/asean-countries-among-world-s-outperforming-emerging-economies-10718216 |url-status=live }}</ref> ASEAN's Secretariat projects that the regional body will grow to become the world's fourth largest economy by 2030.<ref name="E&E-20191120">{{cite news |last1=Gronewold |first1=Nathanial |title=Booming Southeast Asia's dirty secret: Coal |url=https://www.eenews.net/stories/1061593609 |access-date=22 November 2019 |work=E&E News |via=Climatewire |date=20 November 2019 |archive-date=30 September 2020 |archive-url=https://web.archive.org/web/20200930053238/https://www.eenews.net/stories/1061593609 |url-status=live }}</ref>

The ASEAN Centre for Energy publishes the ASEAN Energy Outlook every five years, analysing and promoting the integration of national energy systems across the region. The sixth edition was published in 2020.<ref>{{Cite web|date=2020-11-19|title=The 6th ASEAN Energy Outlook|url=https://aseanenergy.org/the-6th-asean-energy-outlook/|access-date=2021-02-20|website=ASEAN Centre for Energy}}</ref>

===Internal market===
ASEAN planned to establish a single market based upon the [[Four Freedoms (European Union)|four freedoms]] by the end of 2015, with the goal of ensuring free flow of goods, services, skilled labour, and capital. The ASEAN Economic Community (AEC) was formed in 2015,<ref>{{Cite web|url=https://asean.org/asean-economic-community/|title=Legal Instruments|website=asean.org}}</ref> but the group deferred about 20% of the harmonization provisions needed to create a [[common market]] and set a new deadline of 2025.<ref>{{Cite web|url=https://www.asiapathways-adbi.org/2017/07/will-2025-be-the-final-deadline-for-the-asean-economic-community/|title=Will 2025 be the final deadline for the ASEAN Economic Community?|first=Jayant|last=Menon|date=14 July 2017}}</ref>

Until the end of 2010, intra-ASEAN trade was still low as trade involved mainly exports to countries outside the region, with the exception of Laos and Myanmar, whose foreign trade was ASEAN-oriented.<ref>{{cite web|url=http://www.antaranews.com/en/news/77403/asean-feared-to-become-multinational-companies-market-only|work=Anatara News|title=ASEAN feared to become multinational companies market only|date=10 November 2011|access-date=10 November 2011|archive-date=12 January 2012|archive-url=https://web.archive.org/web/20120112112614/http://www.antaranews.com/en/news/77403/asean-feared-to-become-multinational-companies-market-only|url-status=live}}</ref> In 2009, realised [[foreign direct investment]] (FDI) was US$37.9 billion and increased two-fold in 2010 to US$75.8 billion. 22% of FDI came from the [[European Union]], followed by ASEAN countries (16%), and by Japan and the United States.

The ASEAN Framework Agreement on Trade in Services (AFAS) was adopted at the ASEAN Summit in Bangkok in December 1995.<ref>{{cite web|url=http://www.asean.org/6628.htm |title=ASEAN Framework Agreement on Services (1995) |publisher=ASEAN |access-date=21 December 2008 |archive-url=https://web.archive.org/web/20091226223120/http://www.asean.org/6628.htm |archive-date=26 December 2009 }}</ref> Under the agreement, member states enter into successive rounds of negotiations to liberalise trade in services with the aim of submitting increasingly higher levels of commitment. ASEAN has concluded seven packages of commitments under AFAS.<ref>{{cite web|url=http://www.asean.org/6626.htm |title=Overview |publisher=ASEAN |access-date=21 December 2008 |archive-url=https://web.archive.org/web/20110206130652/http://www.asean.org/6626.htm |archive-date=6 February 2011 }}</ref>

Mutual Recognition Agreements (MRAs) have been agreed upon by ASEAN for eight professions: physicians, dentists, nurses, architects, engineers, accountants, surveyors, and tourism professionals. Individuals in these professions will be free to work in any ASEAN states effective 31 December 2015.<ref>{{cite news|last1=Buranasomphop|first1=Duangkamol|title=Asean 2015: Free movement of labour|url=http://en.aectourismthai.com/content1/1411|access-date=11 May 2015|publisher=AEC Tourism Thailand|date=14 June 2014|archive-url=https://web.archive.org/web/20150518070624/http://en.aectourismthai.com/content1/1411|archive-date=18 May 2015}}</ref><ref>{{cite news|title=Concern over free flow of labour after AEC starts|url=http://www.nationmultimedia.com/national/Concern-over-free-flow-of-labour-after-AEC-starts-30238365.html|access-date=11 May 2015|work=The Nation|date=13 July 2014|archive-date=18 May 2015|archive-url=https://web.archive.org/web/20150518102622/http://www.nationmultimedia.com/national/Concern-over-free-flow-of-labour-after-AEC-starts-30238365.html|url-status=dead}}</ref><ref>{{cite web|title=Why the AEC in 2015 Will Lead to Few Changes in Thailand |url=http://www.norcham.com/news/why-the-aec-in-2015-will-lead-to-few-changes-in-thailand |website=Thai-Norwegian Chamber of Commerce |access-date=12 May 2015 |archive-url=https://web.archive.org/web/20150518093814/http://www.norcham.com/news/why-the-aec-in-2015-will-lead-to-few-changes-in-thailand |archive-date=18 May 2015 }}</ref>

In addition, six member states ([[Malaysia]], [[Vietnam]] (2 exchanges), [[Indonesia]], [[Philippines]], [[Thailand]], and [[Singapore]]) have collaborated on integrating their stock exchanges, which includes 70% of its transaction values with the goal to compete with international exchanges.<ref>{{cite web |url=http://investasi.kontan.co.id/news/indonesia-belum-akan-masuk-asean-linkage |title=Indonesia belum akan masuk Asean Linkage |author=Anna Suci Perwitasari |date=13 June 2012 |access-date=17 January 2014 |archive-date=10 December 2014 |archive-url=https://web.archive.org/web/20141210101112/http://investasi.kontan.co.id/news/indonesia-belum-akan-masuk-asean-linkage |url-status=live }}</ref>

Single market will also include the [[ASEAN Single Aviation Market]] (ASEAN-SAM), the region's aviation policy geared towards the development of a [[Open skies|unified and single aviation market]] in [[Southeast Asia]]. It was proposed by the ASEAN Air Transport Working Group, supported by the ASEAN Senior Transport Officials Meeting, and endorsed by the ASEAN Transport Ministers.<ref name="ASEAN SAM">{{cite web|url=http://www.asian-aerocad.com/news/news.php?newsid=23 |title=Asean Single Aviation Market |access-date=26 September 2008 |work=Straits Times |location=Singapore |date=2 February 2008 |archive-url=https://web.archive.org/web/20081209063906/http://www.asian-aerocad.com/news/news.php?newsid=23 |archive-date=9 December 2008 }}</ref> It is expected to liberalise air travel between member states allowing ASEAN airlines to benefit directly from the growth in air travel, and also free up tourism, trade, investment, and service flows.<ref name="ASEAN SAM" /><ref name="LHL on SAM">{{cite news |url=http://news.xinhuanet.com/english/2007-11/01/content_6990497.htm |title=Singaporean PM urges ASEAN to liberalise aviation |access-date=26 September 2008 |work=chinaview.cn |publisher=Xinhua News Agency |date=1 November 2007 |archive-date=11 December 2008 |archive-url=https://web.archive.org/web/20081211012727/http://news.xinhuanet.com/english/2007-11/01/content_6990497.htm }}</ref> Since 1 December 2008, restrictions on the third and fourth [[freedoms of the air]] between capital cities of member states for air passenger services have been removed,<ref>{{cite news |url=http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_282410.html | title=Tiger offers 50,000 free seats |access-date=26 September 2008 |last=Kaur |first= Karamjit |work=Straits Times |location=Singapore |date=25 September 2008| archive-url= https://web.archive.org/web/20080927183958/http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_282410.html| archive-date= 27 September 2008 | url-status=live}}</ref> while from 1 January 2009, full liberalisation of air freight services in the region took effect.<ref name="ASEAN SAM" /><ref name="LHL on SAM" /> On 1 January 2011, full liberalisation on fifth freedom traffic rights between all capital cities took effect.<ref>{{cite web|url=http://www.centreforaviation.com/aviation/index.php?option=com_content&task=view&id=5015 |title=Three-quarters of a million more seats and counting- KL-Singapore benefits from liberalisation |access-date=26 September 2008 |publisher=Centre for Asia Pacific Aviation |date=28 September 2008 |archive-url=https://web.archive.org/web/20060405030709/http://content.nejm.org/icons/home/cme_button.gif |archive-date=5 April 2006 }}</ref> This policy supersedes existing unilateral, bilateral, and multilateral air services agreements among member states which are inconsistent with its provisions.

===Monetary union===
The concept of an [[Asian Currency Unit]] (ACU) started in the middle of the 1990s, prior to the [[1997 Asian financial crisis]].<ref name="Baby Steps to a Common Currency">Baby Steps to a Common Currency</ref> It is a proposed basket of Asian currencies, similar to the European Currency Unit, which was the precursor of the [[Euro]]. The [[Asian Development Bank]] is responsible for exploring the feasibility and construction of the basket.<ref name="Baby Steps to a Common Currency" /><ref>Asian Currency Unit</ref> Since the ACU is being considered to be a precursor to a common currency, it has a dynamic outlook of the region.{{clarify|date=May 2024}}<ref>Prospects for a Single Asian Currency</ref> The overall goal of a common currency is to contribute to the financial stability of a regional economy, including price stability. It means lower cost of cross-border business through the elimination of currency risk. Greater flows of intra-trade would put pressure on prices, resulting in cheaper goods and services. Individuals benefit not only from the lowering of prices, they save by not having to change money when travelling, by being able to compare prices more readily, and by the reduced cost of transferring money across borders.

However, there are conditions for a common currency: the intensity of intra-regional trade and the convergence of [[macroeconomics|macroeconomic]] conditions. Substantial intra-ASEAN trade (which is growing, partly as a result of the ASEAN Free Trade Area (AFTA) and the ASEAN Economic Community.) and economic integration is an incentive for a monetary union. Member states currently trade more with other countries (80%) than among themselves (20%). Therefore, their economies are more concerned about currency stability against major international currencies, like the US dollar. On macroeconomic conditions, member states have different levels of economic development, capacity, and priorities that translate into different levels of interest and readiness. Monetary integration, however, implies less control over national monetary and fiscal policy to stimulate the economy. Therefore, greater convergence in macroeconomic conditions is being enacted to improve conditions and confidence in a common currency.<ref name="ReferenceB">Towards ASEAN Financial Integration</ref> Other concerns include weaknesses in the financial sectors, inadequacy of regional-level resource pooling mechanisms and institutions required to form and manage a currency union, and lack of political preconditions for monetary co-operation and a common currency.<ref>Cost and Benefits for A Common Currency in ASEAN</ref>

===Free trade===
[[File:Map of countries with which ASEAN has free trade agreements.svg|thumb|310x310px|{{Legend|#fd1813ff|ASEAN}}{{Legend|#124295ff|Countries with which ASEAN has free trade agreements}}]]
In 1992, the Common Effective Preferential Tariff (CEPT) scheme was adopted as a schedule for phasing out tariffs to increase the "region's competitive advantage as a production base geared for the world market". This law would act as the framework for the [[ASEAN Free Trade Area]] (AFTA), which is an agreement by member states concerning local manufacturing in ASEAN. It was signed on 28 January 1992 in Singapore.<ref name="AFTA">{{cite web|url=http://www.asean.org/12375.htm|title=Agreement on the Common Effective Preferential Tariff Scheme for the ASEAN Free Trade Area, Singapore, 28 Jan 1992|publisher=Asean.org|archive-url=https://web.archive.org/web/20090414223453/http://www.asean.org/12375.htm|archive-date=14 April 2009|access-date=21 December 2008}}</ref>

Free trade initiatives in ASEAN are spearheaded by the implementation of the ASEAN Trade in Goods Agreement (ATIGA) and the Agreement on Customs. These agreements are supported by several sector bodies to plan and to execute free trade measures, guided by the provisions and the requirements of ATIGA and the Agreement on Customs. They form a backbone for achieving targets of the AEC Blueprint and establishing the ASEAN Economic Community by the end of 2015.<ref name="InvestAsian">{{cite web|url=http://www.investasian.com/2015/01/15/asean-economic-communitys-progress/|title=The ASEAN Economic Community's Progress|work=InvestAsian|date=15 January 2015|access-date=14 June 2015|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930053243/https://www.investasian.com/2015/01/15/aec-2015-problems/|url-status=live}}</ref>

On 26 August 2007, ASEAN stated its aim of completing free trade agreements (FTA) with China, Japan, South Korea, India, Australia, and New Zealand by 2013, which is in line with the start of the ASEAN Economic Community by 2015.<ref>{{cite news|title=ASEAN to complete free trade agreements by 2013 |url=https://www.forbes.com/feeds/afx/2007/08/26/afx4054320.html |work=Forbes |date=26 August 2007 |access-date=27 August 2007 |archive-url=https://web.archive.org/web/20081012121738/http://www.forbes.com/feeds/afx/2007/08/26/afx4054320.html |archive-date=12 October 2008 }}</ref><ref>{{cite news |first=Christine |last=Ong |title=ASEAN confident of concluding FTAs with partners by 2013 |url=http://www.channelnewsasia.com/stories/economicnews/view/296149/1/.html |publisher=Channel NewsAsia |date=27 August 2007 |access-date=27 August 2007 }}{{dead link|date=June 2016}}{{cbignore}}</ref> In November 2007, ASEAN states signed the ASEAN Charter, a constitution governing relations among member states and establishing the group itself as an international legal entity.<ref>{{cite web | url=http://www.asean.org/asean/asean-charter/ | title=ASEAN Charter | publisher=ASEAN | access-date=4 March 2016 | archive-date=30 September 2020 | archive-url=https://web.archive.org/web/20200930053247/https://asean.org/asean/asean-charter/charter-of-the-association-of-southeast-asian-nations/ | url-status=live }}</ref> During the same year, the [[Cebu Declaration on East Asian Energy Security]] was signed by ASEAN and the other members of the [[East Asian Summit|EAS]] (Australia, China, India, Japan, New Zealand, South Korea), which pursues [[energy security]] by finding [[renewable|energy alternatives]] to [[fossil fuels]].<ref>{{cite web | url=http://www.mofa.go.jp/region/asia-paci/eas/energy0701.html | title=CEBU DECLARATION ON EAST ASIAN ENERGY SECURITY | publisher=Ministry of Foreign Affairs of Japan | access-date=4 March 2016 | archive-date=30 September 2020 | archive-url=https://web.archive.org/web/20200930053238/https://www.mofa.go.jp/region/asia-paci/eas/energy0701.html | url-status=live }}</ref>

On 27 February 2009, an FTA with [[Australia]] and [[New Zealand]] was signed. It is believed that this FTA would boost combined GDP across the 12 countries by more than US$48&nbsp;billion over the period between 2000 and 2020.<ref>{{cite web|url=http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Asean/index.php |title=ASEAN, Australia and New Zealand Free Trade Agreement – NZ Ministry of Foreign Affairs and Trade |publisher=Mfat.govt.nz |access-date=21 May 2009 |archive-url=https://web.archive.org/web/20090415060123/http://www.mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Asean/index.php |archive-date=15 April 2009 }}</ref><ref>{{cite news|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aul8rxM98Jg4 |title=Asean, Australia, New Zealand Sign Free-Trade Deal (Update1) |publisher=Bloomberg |date=27 February 2009 |access-date=21 May 2009 |archive-url=https://web.archive.org/web/20101202160359/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aul8rxM98Jg4 |archive-date=2 December 2010 }}</ref> The agreement with China created the [[ASEAN–China Free Trade Area]] (ACFTA), which went into full effect on 1 January 2010. In addition, ASEAN was noted to be negotiating an FTA with the [[European Union]].<ref name="FTA">{{cite web |url=http://www.fta.gov.sg/sg_fta.asp |title=Welcome to Singapore FTA Network |publisher=Fta.gov.sg |access-date=21 December 2008 |archive-url=https://web.archive.org/web/20081209033340/http://www.fta.gov.sg/sg_fta.asp |archive-date=9 December 2008 }}</ref> Bilateral trade with India crossed the US$70 billion target in 2012 (target was to reach the level by 2015).<ref>{{Cite web|url=https://www.statista.com/statistics/650795/trade-value-asean-countries-with-india/|title=India – trade value with ASEAN countries 2016 {{!}} Statistic|website=Statista|access-date=2018-08-29|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930053248/https://www.statista.com/statistics/650795/trade-value-asean-countries-with-india/|url-status=live}}</ref> Taiwan has also expressed interest in an agreement with ASEAN but needs to overcome diplomatic objections from China.<ref>{{cite web|url=http://www.taipeitimes.com/News/taiwan/archives/2008/10/12/2003425653 |title=Siew calls for pragmatic approach to ASEAN ties |work=The Taipei Times |date=12 October 2008 |location=Taiwan (ROC) |access-date=21 December 2008| archive-url= https://web.archive.org/web/20081211235752/http://www.taipeitimes.com/News/taiwan/archives/2008/10/12/2003425653| archive-date= 11 December 2008 | url-status=live}}</ref>

ASEAN, together with its six major trading partners (Australia, China, India, Japan, New Zealand, South Korea), began the first round of negotiations on 26–28 February 2013, in Bali, Indonesia on the establishment of [[Regional Comprehensive Economic Partnership|the Regional Comprehensive Economic Partnership (RCEP)]],<ref name="ref2013022305">{{Cite news| title = ASEAN+6 trade bloc in the making| publisher = Investvine.com| date = 23 February 2013| url = http://investvine.com/asean6-trade-bloc-in-the-making/| access-date = 24 February 2013| archive-date = 28 March 2013| archive-url = https://web.archive.org/web/20130328045835/http://investvine.com/asean6-trade-bloc-in-the-making| url-status = live}}</ref> which is an extension of ASEAN Plus Three and Six that covers 45% of the world's population and about a third of the world's total GDP.<ref>{{cite web|url=http://www.mfat.govt.nz/Trade-and-Economic-Relations/2-Trade-Relationships-and-Agreements/RCEP/ |title=Regional Comprehensive Economic Partnership (RCEP) |access-date=29 October 2014 |archive-url=https://web.archive.org/web/20141029151938/http://www.mfat.govt.nz/Trade-and-Economic-Relations/2-Trade-Relationships-and-Agreements/RCEP/ |archive-date=29 October 2014 }}</ref><ref>{{cite web|url=http://www.fta.gov.sg/press_release%5CFACTSHEET%20ON%20RCEP_final.pdf |archive-url=https://web.archive.org/web/20130626012240/http://www.fta.gov.sg/press_release%5CFACTSHEET%20ON%20RCEP_final.pdf |archive-date=26 June 2013 |title=Factsheet on the Regional Comprehensive Economic Partnership (RCEP) |access-date=29 October 2014 }}</ref><ref>Regional integration: the ASEAN vision in 2020 by Rosabel B. Guerrero; Director, Department of Economic Statistics, Bangko Sentral ng Pilipinas, Manila, Philippines.</ref>

In 2019, [[Reuters]] highlighted a mechanism used by traders to avoid the 70% tariff on [[ethanol]] imported into China from the United States, involving importing the fuel into Malaysia, mixing it with at least 40% ASEAN-produced fuel, and re-exporting it to China tariff-free under ACFTA rules.<ref>{{cite web|url=https://www.reuters.com/article/us-usa-trade-ethanol-insight/long-strange-trip-how-u-s-ethanol-reaches-china-tariff-free-idUSKCN1PW0BR|title=Long, strange trip: How U.S. ethanol reaches China tariff-free|work=reuters.com|first1=Chris|last1=Prentice|first2=A.|last2=Ananthalakshmi|date=7 February 2019|access-date=7 February 2019|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930053244/https://www.reuters.com/article/us-usa-trade-ethanol-insight/long-strange-trip-how-u-s-ethanol-reaches-china-tariff-free-idUSKCN1PW0BR|url-status=live}}</ref>

===Electricity trade===
Cross-border electricity trade in ASEAN has been limited, despite efforts since 1997 to establish an [[ASEAN Power Grid]] and associated trade. Electricity trade accounts for only about 5% of the generation, whereas trades in coal and gas are 86% and 53% respectively.<ref>{{Cite journal |last1=Do |first1=Thang Nam |last2=Burke |first2=Paul J. |date=2022-05-09 |title=Is ASEAN ready to move to multilateral cross-border electricity trade? |journal=Asia Pacific Viewpoint |volume=64|pages=110–125 |doi=10.1111/apv.12343 |s2cid=248689540 |issn=1360-7456|doi-access=free }}</ref><ref>{{Cite journal |last1=Nian |first1=Victor |last2=Mignacca |first2=Benito |last3=Locatelli |first3=Giorgio |date=2022-08-15 |title=Policies toward net-zero: Benchmarking the economic competitiveness of nuclear against wind and solar energy |url=https://www.sciencedirect.com/science/article/pii/S0306261922006328 |journal=Applied Energy|volume=320 |pages=119275 |doi=10.1016/j.apenergy.2022.119275 |bibcode=2022ApEn..32019275N |s2cid=249223353 |issn=0306-2619|hdl=11311/1227558 |hdl-access=free }}</ref>

===Tourism===
{{See also|Visa policy of ASEAN members}}

With the institutionalisation of visa-free travel between ASEAN member states, intra-ASEAN travel has escalated. In 2010, 47% or 34 million out of 73 million tourists in ASEAN member-states were from other ASEAN countries.<ref>{{cite news|last1=Anjaiah|first1=Veeramalla|title=Perfect 10 Paradise: ASEAN tourist industry is booming with intra-ASEAN travelers|url=http://www.thejakartapost.com/news/2011/09/27/perfect-10-paradise-asean-tourist-industry-booming-with-intra-asean-travelers.html|access-date=10 February 2015|work=The Jakarta Post|date=27 September 2011|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930053245/https://www.thejakartapost.com/news/2011/09/27/perfect-10-paradise-asean-tourist-industry-booming-with-intra-asean-travelers.html|url-status=live}}</ref> Cooperation in tourism was formalised in 1976, following the formation of the Sub-Committee on Tourism (SCOT) under the ASEAN Committee on Trade and Tourism. The 1st ASEAN Tourism Forum was held on 18–26 October 1981 in [[Kuala Lumpur]]. In 1986, ASEAN Promotional Chapters for Tourism (APCT) were established in Hong Kong, West Germany, the United Kingdom, Australia/New Zealand, Japan, and North America.<ref>{{cite web|last1=Thoeun|first1=In|title=Tourism Cooperation Towards AEC|url=http://www.moc.gov.kh/tradeswap/userfiles/file/uploadedfiles/Gallery/9.%20Tourism%20Cooperation%20Towards%20AEC9_16_2014_13_56_52.pdf|website=Kingdom of Cambodia, Ministry of Commerce|publisher=Workshop on ASEAN Economic Community Outreach|access-date=10 May 2015|archive-date=2 November 2014|archive-url=https://web.archive.org/web/20141102083250/http://www.moc.gov.kh/tradeswap/userfiles/file/uploadedfiles/Gallery/9.%20Tourism%20Cooperation%20Towards%20AEC9_16_2014_13_56_52.pdf|url-status=live}}</ref>

Tourism has been one of the key growth sectors in ASEAN and has proven resilient amid global economic challenges. The wide array of tourist attractions across the region drew 109 million tourists to ASEAN in 2015, up by 34% compared to 81 million tourists in 2011. As of 2012, tourism was estimated to account for 4.6% of ASEAN GDP—10.9% when taking into account all indirect contributions. It directly employed 9.3 million people, or 3.2% of total employment, and indirectly supported some 25 million jobs.<ref>{{cite web|title=Tourism Statistics – ASEAN {{!}} ONE VISION ONE IDENTITY ONE COMMUNITY|url=http://asean.org/?static_post=tourism-statistics|website=ASEAN {{!}} ONE VISION ONE IDENTITY ONE COMMUNITY|access-date=23 November 2017|archive-date=30 September 2020|archive-url=https://web.archive.org/web/20200930053249/https://asean.org/?static_post=tourism-statistics|url-status=live}}</ref><ref>{{cite web|url=http://www3.weforum.org/docs/WEF_TTCR_ASEAN_Report_2012.pdf|archive-url=https://web.archive.org/web/20170829211257/http://www3.weforum.org/docs/WEF_TTCR_ASEAN_Report_2012.pdf|archive-date=2017-08-29|title=The ASEAN Travel & Tourism Competitiveness Report 2012|publisher=[[World Economic Forum]]}}</ref> In addition, the sector accounted for an estimated 8% of total capital investment in the region.<ref>{{cite web|url=http://investasean.asean.org/index.php/page/view/tourism |title=Tourism &#124; ASEAN Investment |access-date=2014-11-01 |archive-url=https://web.archive.org/web/20141029213600/http://investasean.asean.org/index.php/page/view/tourism |archive-date=29 October 2014 }}</ref> In January 2012, ASEAN tourism ministers called for the development of a marketing strategy. The strategy represents the consensus of ASEAN National Tourism Organisations (NTOs) on marketing directions for ASEAN moving forward to 2015.<ref>{{cite book|title=ASEAN Tourism Marketing Strategy (ATMS) 2012–2015|date=Mar 2012|publisher=The ASEAN Secretariat Public Outreach and Civil Society Division|location=Jakarta|isbn=978-602-8411-97-4|url=http://www10.iadb.org/intal/intalcdi/PE/2012/10151.pdf|access-date=10 May 2015|archive-url=https://web.archive.org/web/20150205203358/http://www10.iadb.org/intal/intalcdi/PE/2012/10151.pdf|archive-date=5 February 2015}}</ref> In the 2013 ''Travel and Tourism Competitiveness Index'' (TTCI) report, Singapore placed 1st, Malaysia placed 8th, Thailand placed 9th, Indonesia placed 12th, Brunei placed 13th, Vietnam placed 16th, Philippines placed 17th, and Cambodia placed 20th as the top destinations of travellers in the Asia Pacific region.<ref>{{cite web|url=http://www3.weforum.org/docs/WEF_TT_Competitiveness_Report_2013.pdf|title=The Travel & Tourism Competitiveness Report 2013|year=2013|publisher=[[World Economic Forum]]|access-date=1 November 2014|archive-date=5 November 2019|archive-url=https://web.archive.org/web/20191105024651/http://www3.weforum.org/docs/WEF_TT_Competitiveness_Report_2013.pdf|url-status=live}}</ref>

1981 The ASEAN Tourism Forum (ATF) was established. It is a regional meeting of NGOs, Ministers, sellers, buyers and journalists to promote the ASEAN countries as a single one tourist destination. The annual event 2019 in Ha Long marks the 38th anniversary and involves all the tourism industry sectors of the 10 member states of ASEAN: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. It was organized by TTG Events from Singapore.

<gallery widths="160">
File:Indonesian Press Conference ATF 2019.ogv|Indonesian Press Conference AFT 2019
File:ASEAN Tourism Forum 2019 Vietnam woman cloth parade.jpg|ASEAN Tourism Forum 2019 - Traditional Vietnam woman cloth parade
File:ASEAN Tourism Awards 2019.jpg|ASEAN Tourism Awards 2019 - Gzhel costumes Vietnam style
File:Nguyễn Ngọc Thiện.jpg|Nguyễn Ngọc Thiện, Minister of Culture, Sports and Tourism of Vietnam at the ASEAN Tourism Awards 2019 in Ha Long Bay
File:Thai Village Princesses.jpg|Children from Thai Hai Reserve Area of Ecological Houses-on-stilts Ethnic Village at the ASEAN Tourism Forum 2019 in Ha Long Bay, Viet Nam; organized by TTG Events
File:Gala ATF 2019 Salute.jpg|Closing Ceremony of Visit Vietnam Year 2018 & Gala Celebrating the Success of ATF 2019
File:AirAsia (Truly ASEAN Livery), HS-ABE, Airbus A320-216 (40696562403).jpg|Southeast Asian carrier [[AirAsia]], featuring the "Truly ASEAN" tagline to promote regional tourism.
</gallery>

=== Cooperation funds ===
The establishment of the [[China-ASEAN Investment Cooperation Fund]] was announced in 2009 by Chinese Premier [[Wen Jiabao]] began operations in 2010.<ref name="AboutCAF">{{cite web |title=About |url=http://www.china-asean-fund.com/about-caf.php?slider1=1 |accessdate=28 March 2013 |publisher=China-ASEAN Investment Cooperation Fund Official Website}}</ref>  The fund, which is sponsored by the [[Export-Import Bank of China]], among other institutional investors, became the first Southeast Asia-focused private equity fund approved by China's [[State Council of the People's Republic of China|State Council]] and the National Development and Reform Commission.<ref name="ManBull">{{cite news |last=Chan |first=Cathy |date=December 1, 2011 |title=China-ASEAN Investment Fund Plans To Deploy $500M In 2012 |url=http://www.mb.com.ph/articles/343200/chinaasean-investment-fund-plans-to-deploy-500m-in-2012#.UQ9lQFoTGKQ |accessdate=4 February 2013 |newspaper=Manila Bulletin}}</ref> The [[Export-Import Bank of China]] is the "anchor sponsor" with a "seed investment" of US$300 million.<ref name="IFC">{{cite web |title=China-ASEAN Fund on Investment Cooperation:Summary of Proposed Investment |url=http://ifcext.ifc.org/ifcext/spiwebsite1.nsf/0/EA30D66D3BCEE0F9852576BA000E3309 |accessdate=2 September 2013 |work=IFC Official Website |publisher=[[International Finance Corporation]], part of the [[World Bank]]}}</ref>  Three other Chinese institutions invested a combined US$500 million.<ref name="IFC" />  The [[International Finance Corporation]] of the [[World Bank]] invested US$100 million.<ref name="IFC" />

In November 2011, the China-ASEAN Maritime Cooperation fund was established.<ref name="Loh" />{{Rp|page=160}}  China underwrote the fund, which is valued at RMB 3 billion.<ref name="Loh" />{{Rp|page=160}}