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ASEM meaning in Business ?

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Answer: What is Asia-Europe Meeting mean?

The Asia–Europe Meeting (ASEM) is an Asian–European political dialogue forum to enhance relations and various forms of cooperation between its partners. It was officially established on 1 March 1996 at the 1st ASEM Summit (ASEM1) in Bangkok, Thailand, by the then 15 Member States of the European Union (EU) and the European Commission, the then 7 Member States of the Association of Southeast Asian Nations (ASEAN), and the individual countries of China, Japan, and South Korea. A series of enlargements saw additional EU Member States join as well as India, Mongolia, Pakistan and the ASEAN Secretariat in 2008, Australia, New Zealand and Russia in 2010, Bangladesh, Norway, and Switzerland in 2012, as well as Croatia, and Kazakhstan, in 2014.

The main components of the ASEM Process rest on the following 3 pillars:

Political PillarEconomic & Financial PillarSocial, Cultural & Educational Pillar

In general, the ASEM Process is considered by the Partners involved to be a way of deepening the relations between Asia and Europe at all levels, which is deemed necessary to achieve a more balanced political and economic world order. The process is enhanced by the biennial meetings of Heads of State and Government, alternately in Asia and Europe, and biennial meetings of Foreign Ministers as well as other Ministerial Meetings, and other political, economic, and socio-cultural events at various levels.

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