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The term Asian values is a political ideology that arose in the 1990s, which defined elements of society, culture, and history common to the nations of Southeast Asia and East Asia. It aimed to use commonalities – for example, the principles of collectivism or communitarianism – to unify people for their economic and social good and to create a pan-Asian identity. This contrasted with perceived European ideals of the universal rights of man. The concept was advocated by Mahathir Mohamad (Prime Minister of Malaysia, 1981–2003, 2018–2020), Lee Kuan Yew (Prime Minister of Singapore, 1959–1990), Park Chung Hee (President of South Korea, 1962–1979) and Shinzo Abe (Prime Minister of Japan, 2012–present) and as well as other Asian leaders.

The popularity of the concept slightly waned after the 1997 Asian financial crisis when at the time Asia lacked a coherent regional institutional mechanism to deal with such crises. A few months after the crisis, The ASEAN Plus Three (APT) was conceived in December 1997 with the convening of a summit among the leaders of ASEAN, China, Japan and South Korea. The APT Summit was institutionalised in 1999 when its leaders issued a joint statement at the 3rd APT Summit. The joint statement determined the main objectives, principles and further directions of APT countries' and resolved to strengthen and deepen cooperation at various levels and in various areas, particularly in economic, social, political and other fields.

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