Compare the European Union with ASEAN

Compare the European Union with ASEAN

Ans.9. The European Union-
(a) After the Second World War, the Organization for European
Economic Cooperation (OECC) was established by America,
under the Marshall Plan.
(b) The process of economic integration of European capitalist
countries proceeded systematically and the Council of Europe
was established in 1949.
(c) This led to the formation of the European Economic Community
in 1957. After the collapse of Soviet bloc, EuropeanUnion was
established in 1992.
(d) It has its own flag, anthem, founding date and currency.
European Union was the world’s largest economy in 2005. It
had a GDP of more than US $ 12 trillion in 2005. (Any two points)

ASEAN-

(a) Association of South East Asian Nations (ASEAN) was
established in 1967 by five countries of this region –Indonesia,
Malaysia, the Philippines, Singapore and Thailand by signing the
Bangkok Declaration.
(b) ASEAN countries have adopted the “ASEAN Way” as a form of
interaction that is informal, non-confrontationist and
cooperative.
(c) In 2003, ASEAN moved along the path of establishing an ASEAN
Community comprising three pillars, namely, the ASEAN Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community.
(d) ASEAN had several agreements in place by which member
states promised to uphold peace, neutrality, cooperation, noninterference and respect for national differences and sovereign
rights. ASEAN economy is growing much faster than other
countries.
(e) ASEAN has focused on creating a Free Trade Area (FTA) for
investment, labor and services. ASEAN Vision 2020 had defined
an outward- looking role for ASEAN in the international community. ASEAN policy has been to encourage negotiation over conflicts in the region. (Any two points)