UK Accounting Glossary
acronym of Association of Southeast Asian Nations
ASEAN is the Association of Southeast Asian Nations, a political, cultural, and economic organization of nations in Southeast Asia. ASEAN includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
ASEAN promotes the economic and political interests of this region when dealing with other areas of the world. ASEAN also promotes social and cultural development, as well as regional stability. Although the nations of ASEAN have differing styles of government, they promote the ideals of democratic processes. Many of the nations of ASEAN are experiencing rapid economic advancement, and so the organization has become very important in representing its region. It was formed in 1967 from five nations, as a successor to the Association of Southeast Asia.
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This glossary post was last updated: 4th February 2020.