(Xinhua)
Updated: 2007-11-20 23:22

BEIJING -- In order to be more ready to face challenges, the Association of Southeast Nations (ASEAN) signed a Charter on Tuesday, which transforms the ASEAN into a rules-based legal entity like the European Union.

Heads of state or government of the 10 member countries of the Association of Southeast Asian Nations (ASEAN) gathered Tuesday morning to start the regional grouping's 13th summit. [Xinhua]

The Charter was signed by the bloc's 10 leaders in Shangri-La Hotel in the downtown of Singapore. Under the Charter, the member states of ASEAN are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Here is a rough guide of the Charter:

Legal personality

In order to be more ready to face challenges, ASEAN needs a legal foundation and institutional framework for building up the regional integration, the Charter says.

"ASEAN, as an inter-governmental organization, is hereby conferred legal personality," says the Charter.

Single market and elimination of all barriers

ASEAN leaders promised in the Charter to create a single market and production base with effective facilitation for trade and investment in which there is free flow of goods, services and investment. They also promised to gain freer flow of capital.

According to the Charter, ASEAN will adhere to multilateral trade rules to eliminate all barriers to regional economic integration in a market-driven economy.

The Charter says that ASEAN will enhance consultations on matters seriously affecting the common interest of the group.

ASEAN Community

The Charter says peoples of the ASEAN member states are committed to intensifying community building through enhanced regional cooperation and integration, particularly by establishing an ASEAN Community comprising the ASEAN Security Community, the ASEAN Economic Community, and the ASEAN Socio-Cultural Community.

ASEAN, founded in August 1967, used to be a loosely-organized regional body, whereas it is moving towards being a more rules-based organization in order to better meet the challenges posed by regional integration.

The Charter says in its preamble that peoples of the ASEAN member states are convinced of the need to strengthen existing bonds of regional solidarity, so as to effectively respond to current and future challenges and opportunities.

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