Role and Importance of Multilateral Organizations such as ASEAN and APEC In the Light of Political Development of the Region. The world has seen a lot of change in the Southeast Asian region from the World War II to ‘The Asian Miracle’, as referred by the World Bank in the year 19931, and later…
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This was true for all irrespective of the form of rule be it monarchy, communism, military rule or democracy. ASEAN policy of constructive intervention has led to increased participation of all the countries, including Myanmar, in the regional affairs. Establishment of AFTA (ASEAN Free Trade Area) has led to increased free trade in the region. However, AFTA is not as strong and consolidated as EU and needs further intensification. Currently ASEAN holds around 200 meetings annually2 for increasing the economic prospects within and outside the region. Even China, which is busy setting up several military base stations in within and outside the ASEAN region, is exploring every possibility to increase in trade and investment openness among other countries. However, there is a need to make the Treaty of Amity and Co-operation in Southeast Asia sharper for economic well-being of the member countries. With US biggest consumer and China the biggest producer, there will always be economic inter-dependence in the Asia Pacific region. Hence APEC could not have been only a consultative forum. All the countries in the association have adhered to an open multiparty system of trading. Though APEC includes economically stronger countries like U.S., Australia, New Zealand and Canada, ASEAN countries in the ASEAN-APEC group are definitely going to have competitive advantage over the others. ...
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