July 09, 2024
Written By. Ralph Ray D. Chua
Decades ago, Southeast Asian countries were often at odds, entangled in conflicts that seemed insurmountable. Today, however, the narrative has shifted dramatically. Southeast Asian nations have demonstrated to the world the transformative power of engagement and cooperation, evolving from historical conflicts to becoming peaceful trade partners supporting mutual growth.
In the 1970s, the Philippines and Malaysia faced the Sabah dispute—a period marked by tension and uncertainty. Through patience, diplomacy, and a steadfast commitment to engagement, the two nations have moved towards cooperation and mutual respect. This spirit of reconciliation exemplifies the essence of our Southeast Asian community.
Building on such examples of reconciliation, the Association of Southeast Asian Nations (ASEAN) was founded in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Over the years, it has grown to include Brunei, Vietnam, Laos, Myanmar, and Cambodia, with Timor-Leste soon to join. Despite differences in culture, language, and politics, this diverse family of nations has forged a strong and united community. ASEAN's recognition as the second-best international governmental organization after the European Union underscores its success in promoting diversity and inclusivity across its member states.
The results of this collaborative approach are clear. ASEAN’s trade value reached $3.8 trillion in 2022, up from $3.3 trillion the previous year. Intra-ASEAN trade accounted for $856.6 billion of this total, highlighting the robust economic exchanges within our region. This surge in trade is accompanied by significant knowledge sharing and innovation, fostering an environment where cooperation thrives.
Further reflecting the strength of this unity, economic growth in the region has been impressive, with ASEAN countries recovering swiftly from the economic impacts of the pandemic. In 2022, ASEAN achieved a collective GDP growth of 5.7%, outstripping the global average of 3.4%. Projections for 2024 and 2025 suggest continued robust growth, further emphasizing the strength and resilience of our regional economy.
This remarkable recovery is driven by increased trade, foreign investments, and regional cooperation on various fronts, including digital transformation and environmental sustainability. The ASEAN Digital Economy Framework Agreement aims to boost digital trade and innovation, while the ASEAN Strategy for Carbon Neutrality focuses on sustainable development and environmental resilience. These initiatives reflect the region’s commitment to mutual growth and understanding.
ASEAN's success offers valuable lessons for the business sector, which can be a powerful force for good. By adopting the principles of engagement and cooperation seen in ASEAN, businesses can drive positive change. Creating inclusive work environments, investing in sustainable practices, and fostering innovation through collaboration are just a few ways businesses can mirror ASEAN’s success. Being a force for good in business does not require grand gestures. It begins with everyday actions that build a foundation of trust and mutual respect.
The ASEAN story is a powerful reminder of what can be achieved through engagement and cooperation. It illustrates that no matter how different we are, unity can lead to a better future. Embracing understanding, respect, and collaboration in all endeavors is essential.
As we navigate the complexities of global interactions and community building, our greatest strength comes from our ability to communicate, cooperate, and grow together. By embodying these principles, we honor ASEAN’s legacy and contribute to a more harmonious future for all.
Mr. Ralph Ray Dacay Chua is the Chairman of the Board and President of Immuni Global Incorporated. He is an ASEAN Youth Fellow of the Singapore National Youth Council and a recipient of the Ramon V. del Rosario Siklab Award. He was a speaker at the ASEAN-China Future Relations Forum, held in Jakarta by the Chinese and Myanmar Permanent Missions to ASEAN. rdc@immuni.com.ph