In addition to being a region that is rich in natural resources and one of the world's major food suppliers, ASEAN is a huge and growing maket in itself, accounting for 10 percent the world's people. The ASEAN population is also gaining purchasing power; the formation of an ASEAN Community thus strengthens and stabilizes the region's economy.
Resources and Exports
Important resources and industries in the ASEAN region include
1. Forestry
The tropical forests of the ASEAN countries boast some of the most impressive biodiversity on the planet, with a variety of rare plants and indigenous animals that cannot be found anywhere else in the world. Examples of the latter include the Sumatran tiger and the orang-utan.
2. Rice
ASEAN is an important rice producer and exporter. The countries that export the most rice in the world include Thailand, Vietnam, Myanmar and Indonesia.
3. Rubber
With a tropical climate and geographical location near the equator, many ASEAN countries are ideal for rubber producers in the world, with Malaysia, Indonesia and Thailand the leading producers.
4. Oil and Natural Gas
ASEAN boasts both oil and natural gas resources. Brunei is the world's fourth largest producer of natural gas for export. Malaysia, Indonesia, Myanmar, Thailand and Cambodia also have their own oil and natural gas sources.
5. Tin
Tin is a metal that can be found in almost every ASEAN nation. Malaysia is the world's largest producer of tin.
6. Gems
Myanmar and Cambodia are famous as international centers for gems.
7. Fisheries
ASEAN, situated between the Indian and Pacific oceans, has a thriving salt and freshwater fisheries industry. The South China Sea is an especially important body of water in this regard. It is also an important transport route, connecting ASEAN with the rest of the world.
The Mekong River is an important freshwater resource that passes through five ASEAN countries - Myanmar, Thailand, Laos, Combodia and Vietnam. In Cambodia the Tonle Sap lake is an important freshwater resource and home to many aquatic animals.