In 1976 in Parapat Lake Toba (North Sumatra-Indonesia), The Society initiated the founding of the ASEAN Federation of Economic Associations. (FAEA).
The FAEA now consists of the economic associations of seven ASEAN countries – Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The aim of this Federation is to promote the study of economics in ASEAN countries in a cooperative and coordinated manner. The FAEA seeks to provide useful input for economic policymaking in each member country and to contribute to economic development in the region. This is done through annual regional conferences, which are organized by each member economic association on a rotative basis.