As set out in the 1967 ASEAN Declaration, one of the aims and purposes of ASEAN is to accelerate the economic growth, social progress, and cultural development in the region endeavors in the spirit of equality and to strengthen the foundation for a prosperous and peaceful community of ASEAN countries. As one of the fastest-growing economies in the world, ASEAN has been going through a remarkable journey over the past four decades. After weathering the 1997 Asian financial crisis and the 2008 global economic crisis, the regional economy continued growing steadily despite a global slowdown impacted by the Covid-19 pandemic. While jolted by the crises, the resilience and economic transformation of ASEAN economies have been widely praised and henceforth referred to as the miracle economies. However, despite these impressive and enormous achievements at the regional level, ASEAN still has limited impact in reducing the wide economic development gap between member states.
Often referred to as “two-tier ASEAN” in which there exists an economic divide between the older versus the newer member states, several efforts taken by the organization to narrow the economic disparity have seen limited success primarily due to the less effective implementation of its work plans over the years. It shows the need for a more structured and coordinated framework supported by specialized technical assistance and capacity building on the decision-making and implementation of economic policy for the member states at the national level. Among other initiatives in the financial aspect, the ASEAN Finance Minister’s Meeting (AFMM) plays a key role in providing a strategic channel to deliberate on key issues of common concern and widen the extent of discussions on policy dialogue on monetary and financial stability issues. While the meeting focuses on the macroeconomics aspect of maintaining financial stability and promoting deeper financial integration in ASEAN, it has not yet provided a dedicated forum for ASEAN Member States (AMS) to discuss micro financial management aspects, especially in the perspective of treasury while it is necessary to ensure comprehensive implementation of the policy. In that regard, Indonesia as the 2023 ASEAN chairmanship has proposed the initiative to establish ASEAN Treasury Forum (ATF) as an ASEAN finance level forum to cover the broad-spectrum of treasury and public financial management.
The logo is a symbol of unity and cooperation among the 10 ASEAN countries in managing national wealth and assets.
A traditional Southeast Asian rice barn (lumbung padi) as a place for storing and managing wealth.
Hands clasped together upwards (often referred to as "raised hands" or "hands raised in unity") representing the gesture of unity and collaboration.
