This paper analyses the work done by the ASEAN community and its role in facilitating economic development. Despite its success, ASEAN has not progressed very far in terms of becoming a formal economic entity. But its own brand of market-driven and institution-light regionalism has served it well. the ASEAN+6 countries have undertaken several waves of multilateralizing preferences, ensuring global connectedness. Looking forward, hopefully the new members will follow suit, and this approach towards open regionalism will be preserved with the move to an ASEAN Economic Community.

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