Founded in 2005, the East Asia Summit [EAS] is a multilateral forum of 18 nations where leaders of Asia-Pacific regions meet annually to discuss strategies for economic, political, and security issues.
The idea of the East Asia grouping got the first-ever promotion in 1991 by the then PM of Malaysia. Initially, leaders of 16 countries from the Asia and Pacific regions became members based on the model of ASEAN Plus Six.
Facts About East Asia Summit [EAS]
The membership of the East Asia Summit [EAS] exceeded to become 18 as the United States and Russia joined at the 6th meet in 2011. The first summit was hosted in Kuala Lumpur in December 2005.
Ever since its inception, the Association of Southeast Asian Nations [ASEAN] has played a crucial role in the forum. The meetings take place every year after the annual meeting of the ASEAN leaders and impact the regional architecture of Asia-Pacific to a great extent.
It is an ASEAN-centred forum and the chair can be held by an ASEAN member only. The chair of the ASEAN is the chair of the EAS, the role of the chair is given to the ten member countries turn by turn annually.
Member Counties of East Asia Summit [EAS]
East Asia Summit [EAS] members include the ten members of the ASEAN namely
along with eight others
- New Zealand
- The Republic of Korea.
Significance of The East Asia Summit [EAS]
East Asia Summit [EAS], as it represents about 50 per cent of the total global population, is a supreme forum and holds a lot of potential for the growth of Asia. It comprises strong, fast-developing economies with four major players India, Japan, China, and Korea.
Monetary cooperation between the EAS countries could prove to be fruitful considering the fact that their combined foreign exchange reserves value at over $3 trillion.
With efforts in the right direction, it is possible to create an architecture that facilitates the mobilization of the reserves to narrow down development gaps in Asia.
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India's Role In The East Asia Summit [EAS]
India has remained a founding member of the East Asia Summit [EAS] and endorses collaboration across the priority areas of cooperation. The EAS works as an excellent replacement for APEC whose membership it does not enjoy.
In the 16th Summit, India stressed the significance of a free, open, inclusive Indo-Pacific and promoted the idea of developing international standards of cybersecurity. India is expected to play a critical role in the coming summits, being seen as a leader in the region.
To conclude, being a part of the East Asia Summit is India's recognition of its rapidly growing economy. EAS plays a vital role in India's Act East policy aimed at building relations with multilateral countries.
FAQs on East Asia Summit [EAS]
Q.1 What is East Asia Summit [EAS]?
The East Asia Summit [EAS] is a regional summit held annually by 18 East Asian Countries, aimed at trade and economic partnerships. The most recent event, East Asia Summit [EAS] 2021 was held online due to the pandemic.
Q.2 Which country hosted the East Asia Summit [EAS] 2021?
The 16th East Asia Summit [EAS] was held online in October 2021 because of the Covid 19 restrictions. It was hosted by Brunei as it was the scheduled venue for the meeting.
Q.3 Who will host the 2022 East Asia Summit [EAS]?
Following an online event during the East Asia Summit [EAS] 2021, the 2022 East Asia Summit [EAS] is likely to be hosted by Cambodia in Phnom Penh.
Q.4 Where is the headquarters of the East Asia Summit [EAS]?
The EAS is headquartered in Kuala Lumpur, Malaysia, where the first summit was held in 2005. The East Asia Summit 2021 was held online owing to the COVID-19 pandemic.