The Bali Concord III focuses to the three pillars of the Asean namely politics and security, economy and socio-culture.
For politics and security cooperation, the declaration deals with conflict resolution, transnational crime and piracy eradication, corruption eradication and nuclear disarmament, among others.
In the field of economy it calls for ASEAN's participation in the global economy, the strengthening of the ASEAN economy, adoption of production standards and economic commodity distribution, access improvement and technology application, agricultural investment increase and energy diversification.
The socio-cultural pillar covers the issues of natural disaster mitigation and management, climate change, health, education and culture.
The declaration also reaffirms the regional bloc’s commitment to the purposes and principles of the Charter of the United Nations and international laws which they subscribed to.
Bali Concord III was signed at the 19th ASEAN Summit by the 10 heads of state/government. They were: Prime Minister Hun Sen of Cambodia, Sultan Hasanal Bolkiah of Brunei Darussalam, Prime Minister Thongsing Thammavong of Laos, President Thein Sein of Myanmar, Prime Minister Dato Sri Mohd Najib bin Tun Abdul Razak of Malaysia, President Benigno Aquino III of the Philippines, Prime Minister Lee Hsien Loong of Singapore, Prime Minister Yingluck Shinawatra of Thailand, Prime Minister Nguyen Tan Dun of Vietnam, and Indonesian President Susilo Bambang Yudhoyono.
