Tasks ahead for Asean as it turns 50

ASEAN has just turned 50. Now well into middle age, it has some significant achievements under its belt. Indeed, Asean is almost a household name today, both within and beyond Asia. Established in 1967, Asean's initial focus was on politico-security issues. Its proactive engagement with the region has contributed to sustained peace and stability in South-east Asia.

Asean's greatest economic achievement has been tariff reduction. On average, Asean's 10 member states have cut 96 per cent of tariff lines to zero per cent, and this share is expected to reach 98.7 per cent next year. Asean's commitment to open regionalism has seen its original member states voluntarily multi-lateralise their trade preferences by also offering them to non-members. Today, more than 90 per cent of tariff lines offer the same rate to both members and non-members. And more than 70 per cent of intra-Asean trade travels at the Most-Favoured Nation rate of zero.

Some of its more ambitious reform plans, however, have proved difficult to implement. So, what does the future hold for Asean? More specifically, will it achieve its goal of regional economic integration?