ASEM actively involves itself in a wide range of activities in line with its three main pillars. It initiates various dialogues and co-operations on specific and global issues. ASEM established the Asia-Europe Cooperation Framework (AECF) to set the vision, principles, objectives, priorities and mechanisms for the ASEM process for the first decade of the new millennium.

ASEM also actively carries out dialogue on various global issues ranging from the welfare of women and children to transnational terrorism. In the economic and financial side, ASEM--to name a few--set up ASEM Trust Fund and the Asia-Europe Business Forum.