After the end of the cold war, Us emerged as the superpower of the world. In order to control and limit its dominance, the importance of the presence of regional organisations was realised. As a result, European Union was formed in Europe and ASEAN was formed in south-east Asia. They aim to serve the following objectives-

• Such organisations focus on the needs and capabilities of the economy of their particular region and provide them development at par with the level of global development.

• Countries with similar interests and needs are clubbed together in these organisations. Therefore, they achieved their ends in similar ways and the grow together.

• It results in social and cultural development as well.

• These organisations promote peace and stability in their specified region.