PHNOM PENH - The leaders of the Association of Southeast Asian Nations (ASEAN) on Sunday launched the ASEAN Institute for Peace and Reconciliation (AIPR), aiming at reviewing ASEAN cooperation and contributing to peace and reconciliation in the region.

The launching was made during the opening ceremony of the 21st ASEAN Summit at the Peace Palace in Phnom Penh, the capital of Cambodia.

"The official launch of the AIPR will further promote peace, security, reconciliation in the region," Prime Minister Hun Sen, chair of ASEAN in 2012, said at the opening of the Summit.

He added that maintaining regional peace and security is indispensable for ASEAN's prosperity and inclusive growth in the entire ASEAN region.

Kao Kim Hourn, secretary of state at Cambodia's foreign ministry, said in July after the 45th ASEAN Foreign Ministers Meeting (AMM) that the funding for the institute will be contributed by ASEAN member states.

The AIPR was initiated by Indonesia. It was built in accordance with the agreement in the ASEAN Charter and following guidelines of the Treaty of Amity and Cooperation (TAC).

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