Association of Southeast Asian Nations (ASEAN/ASEAN+3)

Abstract

Today’s ASEAN/ASEAN+3 regional monetary cooperation framework dates back to initial regional cooperation schemes in the Association of Southeast Asia between the Philippines and Thailand in 1961 and the Maphilindo — an acronym formed of the first letters of the Malaysian Federation, the Philippines, and Indonesia — in 1963 (cf. Sandhu et al., 2003: 29 ff.). However, both arrangements were short-lived, largely due to border conflicts and political disputes. Nevertheless, the Association of Southeast Asia’s organizational structures are still represented in ASEAN.