ASEAN Economic Cooperation dates

11 Permanent Committees were set up to coordinate regional economic cooperation

1968-69

3rd ASEAN Ministerial Meeting: 98 recommendations for implementation of projects for economic cooperation in various fields were approved

Dec 1969

Bali Summit - Declaration of ASEAN Concord which paved the way for the initiation of several economic cooperation schemes

23-24 Feb 1976

Preferential Trading Agreements (PTA) : Aimed to reduce tariffs and extend trade preferences between ASEAN members for intra-ASEAN trade

1976

ASEAN Industrial Projects (AIP): Aimed to create large industrial projects that would be jointly owned by all ASEAN states

1980

ASEAN Industrial Complementation Scheme (AIC): Aimed to encourage cooperation between SEA states to exchange components and products to complement each other

1981

Brand to Brand Complementation Scheme (BBC): Aimed to encourage cooperation between SEA states to exchange components and products to complement each other

1982

ASEAN Industrial Joint Ventures (AIJV): Aimed for private sector companies to take initiative to form joint industrial ventures

1983

Regional economic cooperation was heavily emphasised in the Bangkok Declaration (rhetoric)

1967

Limited economic cooperation in reality, with ASEAN members being more focused on political matters + No precedent for economic cooperation + Domestic interests were not aligned to regional economic cooperation

1967 - 1975

Increased attempts at regional economic cooperation, though with limited success and Arguably no real and effective economic cooperation among the ASEAN member states

1976 - late 1980s

Greater increase in attempts at regional economic cooperation – expansion of ASEAN’s scope as most ASEAN countries have moved towards EOI and opened up to FDI + needed a new unifying factor

Late 1980s - 2000

Declaration of ASEAN Concord: joint approaches to international commodity issues and other world economic problems

1976

Post-Ministerial Conference (PMC) with crucial non-ASEAN partners: Sought development assistance, investments and market access

1978

Establishment of the ASEAN Free Trade Area (AFTA)

1992

Establishment of the Asia Pacific Economic Cooperation (APEC)

1989

Asian Financial Crisis

July 1997

Proposal of the ASEAN Surveillance Process: A regional economic surveillance mechanism to complement the IMF

Nov 1997

Bilateral Swap Agreement (recommended stand-by emergency funds)

1998