The future of ASEAN, a key bloc of Asian nations, depends largely on the strength of a charter it plans to adopt this year, Singapore's Foreign Minister George Yeo has said.

"A good charter, simple, clear, determined will open a new chapter in our history. It will inform everybody else of our seriousness, thereby facilitating our business with them," the minister said in a Straits Times interview.

Leaders of the Association of Southeast Asian Nations (ASEAN) adopted a blueprint for the charter at their annual summit in the Philippine resort island of Cebu this month.

The blueprint was devised by a group of "eminent persons" from all 10 ASEAN member states. A draft of the final charter is supposed to be presented to leaders at the 13th ASEAN Summit in Singapore later this year.

The charter is aimed at transforming ASEAN from a group known for operating by consensus and staying out of each other's affairs into a rules-based organisation along the lines of the European Union.

According to the blueprint, traditional decision-making by consensus would be retained wherever possible -- but members would vote on issues if agreement could not be reached.

Leaders would be empowered to impose sanctions if there are serious breaches, including suspension or expulsion in extreme cases.

However, analysts say it remains to be seen whether the drafters of the charter will adopt the recommendations contained in the blueprint.

ASEAN, formed in 1967, has been criticised as a mere talking shop where commitments by member states are not legally binding.

The group's perceived soft approach to pressuring military-ruled Myanmar to move forward on democracy and human rights has often been highlighted as a sign of weakness.

Yeo also said an ASEAN Community envisaged to be established by 2015 will free up trade and investments, but indicated it was too early to assess how much can be achieved.

"That we will be closer, more integrated ... that will come to pass. Trade will largely be freer. There will be more coordination and our external relations with China, India and the US will be more cooperative," he said.

"That will be the future, but how much we will achieve by 2015, I am not sure."

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.