In: Economics
Both the European and ASEAN are regional organisations .The EU has 28 members and ASEAN has 10 members.Both aimed at promoting peace.The EU came into existence after the two world wars in order to prevent another world war. ASEAN was created to develop a peaceful environment in Southeast Asia so that the ASEAN countries can put their attention in economic development. In the case of EU there is free movement of goods and services and also of capital and labor but in the case of ASEAN there no no free movement of labor . This is the major difference between the two.Both the organisations contribute to human rights ,the EU has a charter of fundamental rights and the ASEAN has a declaration of Human rights.EU has a European court of justice , while ASEAN does not have a court.Both ASEAN and EU had free trade agreement with other countries.For eg EU had a free trade agreement with Singapore. ASEAN had free trade agreement with China,Japan,South Korea , India, Australia , New Zealand but not with EU.The EU holds summits with US, Russia , China , Japan and ASEAN holds summits with US, China, Japan , India .Asean is an intergovernmental organisation but EU is supranational organisation . The member states of EU has given up their sovereignty and the EU exercises pooled sovereignty.EU has a common currency but ASEAN does not have.EU has parliament ASEAN does not.The EU has a powerful secretariat known as European commission and the ASEAN has a weak secretariat.The European commission enjoys the power to put ahead proposals for legislation.In terms of decision making , ASEAN takes all decisions with consensus but EU take decision through votes.Thus the most important impact of EU and ASEAN has been the development of free trade between countries and also free flow of capital and labor between countries.Both have impact of enhancing human security.The impact of both the organisations can also be felt in prevention of natural disasters brought by climatic changes.