KUALA LUMPUR, 12 June 2025 – ASEAN is poised to ascend as the world's fourth largest economy, a milestone envisioned in the ASEAN Community Vision 2045: Our Shared Future, recently adopted by the ASEAN Leaders at the 46 th ASEAN Summit. The Association of Southeast Asian Nations (ASEAN) is an intergovernmental forum of all 11 states in Southeast Asia. ASEAN operates on the principle of consensus and. Philippines is the Chair of ASEAN for 2026. ASEAN Prize is a regional premier award to recognize the inspiring achievements of ASEAN citizens or ASEAN-based organizations with significant contribution toward ASEAN community-building efforts. Ethan Teekah is an Associate Editor at Encyclopædia Britannica, where he leads coverage of Asia. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of. Over the last half century, the global economy has expanded 30-fold, from around $3 trillion in 1970 to more than $110 trillion in 2024. This remarkable surge is often attributed to openness: more open trade, cross-border investment, and the mobility of talent. It is headquartered in Jakarta, Indonesia.