On 15 February 1997, the 1st ASEM Foreign Ministers’ Meeting (ASEMFMM1) was held in Singapore. The Ministers adopted a Declaration welcoming the establishment of ASEF.

Based in Singapore, ASEF is the only permanent institution of ASEM. ASEF is funded by voluntary contributions from ASEM’s partner governments and shares the financing of its projects with its civil society partners across the 2 regions.