Premier Wen Jiabao (fifth left) and the 10 leaders of the Association of Southeast Asian Nations (ASEAN) stand together for a group picture during the ASEAN and China Summit in Nusa Dua in Indonesia's resort island of Bali on Nov 18, 2011. [Photo/Agencies]

BEIJING - The integration of the Association of Southeast Asian Nations (ASEAN) community faces both opportunities and challenges, despite the recent signing of the Bali Concord III by ASEAN leaders on Thursday.

The agreement was hailed by Indonesian Foreign Minister Marty M. Natalegawa as "the start of a process where ASEAN will play an increased role at the global level".

"For the next 10 years, there will be concrete actions and measures so that ASEAN can act in unison in global matters," he said at a news briefing after the signing ceremony.

In the agreement, ASEAN leaders affirmed their commitment to adopt a more coordinated, cohesive and coherent ASEAN position on global issues of common interest and concern and to develop an enhanced ASEAN capacity to contribute and respond to key global issues. The ASEAN leaders also affirmed their pledge to present a common platform on global issues by 2022.

In a commentary released in the Jakarta Post on Friday, Malaysia's Prime Minister Najib Razak said ASEAN countries are now "close to securing the most crucial stage" yet of their regional relationship - the ASEAN Community.

"As a 10-nation bloc, we bring more to the international negotiating table, allowing us to secure the best possible terms for treaties and trade agreements," he said in the article.

The bloc is home to more than 600 million people and its total GDP is almost $2 trillion, he added.

But media and analysts have warned that the integration process of the ASEAN countries still faces obstacles, such as the disparate political and economic systems, as they push for an integrated EU-style community by 2015.

"All members support regional integration, but there are disputes about the pace. The biggest challenge is creating a common market that supports business and drives growth for all 10 countries. Talk of a common currency has suffered a blow because of troubles within the European Union," The Associated Press said.

"It remains a fragmented grouping of 10 separate, very different economies," the Financial Times (FT) reported.

For example, "in terms of wealth, Singapore produces GDP per capita at close to US levels, while Myanmar, Cambodia and Laos remain among the world's poorest countries", FT wrote.

It added that other obstacles hamper ASEAN integration, such as insufficient influence to push member states into implementing its vision, widespread resistance to change and the unanimous consensus needed between member states.

"The best way for ASEAN's members to tackle the current crisis and put ourselves in the strongest possible position for the years ahead is not to pull apart but to come closer together," Razak said.

Xinhua contributed to this story.