On the initiative of the Nobel prize winners Milton Friedman and Gary Becker, the Fraser Institute in Vancouver, Canada framed a series of indicators measuring the level of freedom granted by the legal and economic system and the practical economic, finance, tax and currency policies in national economies. Based on these indicators the Economic Freedom Index was developed, which is annually published in the Economic Freedom of the World Annual Report since 1996, providing a comparison between all countries ranking them by their level of economic freedom.

More than 70 economic research institutes and liberal think tanks joined the initiative of the Fraser Institute, including the Liberal Institute of the Friedrich Naumann Foundation in Berlin which publishes the Economic Freedom Report annually in Germany.

Based on findings in the report published by the Fraser Institute in Vancouver the Friedrich Naumann Foundation has supported and continuously encouraged the development of the "Economic Freedom Network Asia" to enable a wider discussion of necessary policies and framework for economic growth also as a pre-condition for poverty eradication. The Network, consisting of think tanks and research institutes from more than 20 Asian countries, cooperates to further develop the Economic Freedom Index in Asia; analyse the economic development, strengths and weaknesses of Asian countries in comparison with other regions.

Since 1998 annual conferences, organized by the Friedrich Naumann Foundation, allow for the opportunity to evaluate and discuss the methods and indicators of the Economic Freedom Index from an Asian perspective and to intensify the strategic cooperation between the members.

Mission Statement

The Economic Freedom Network Asia and its members strive to expand individual liberty in the economic sphere which will facilitate human development and economic growth.

In the pursuit of its objectives, the Network provides a platform for political dialogue, public education and academic exchange in order to appeal to the public, policy advisors and political decision-makers, to broaden the public policy debate on the merits of free markets and limited governments.

The Network includes organisations and individuals such as policy advisors, journalists, corporate representatives, policy makers, government officials. It also seeks partnerships with organisations outside Asia.