It was established in an effort to build a Pan-Asian multinational socialist organization, clearly independent from earlier European colonial centres, yet free from the new superpowers of the Cold War.

[2][3] Until 1963 its headquarters was in Rangoon, Burma; the first chairman and treasurer of the conference were the Burmese socialist leaders Ba Swe and Kyaw Nyein, respectively.

At that time, the party was in the midst of the anti-colonial struggle and hoped for cooperation with other Asian socialists against a common enemy.

[7] On the occasion of the Asian Relations Conference, held in Delhi in 1947, leading members of the Socialist Parties of Burma, India and Indonesia, at an informal meeting, discussed the need and the possibility of the Socialist Parties of Asia meeting to discuss common problems and exchange experience.

[4] Subsequently, informal meetings between Burmese, Indian and Indonesian socialists were held in connection with the Asian Regional Conference of the International Labour Organization in Delhi in December 1951.

At Delhi, it was agreed on that a committee for the holding of an Asian Socialist Conference would be formed consisting of representatives of India, Burma, Indonesia, Malaya, Siam, Vietnam, Korea and the Philippines (the Japanese would be invited as observers).

Observers were invited from African freedom movements from Algeria, Tunisia, Kenya, Uganda, Nigeria, Morocco, the Gold Coast as well as the Congress of Peoples against Imperialism.

[11] Despite its Asian focus, the organization still welcomed one European party, the League of Communists of Yugoslavia, which was perceived as unique case as the country never was a colonial power and since the 1948 Tito–Stalin split was also independent of the Soviet Union.

[7] The British SI representative Clement Attlee ridiculed the notion of building a third bloc outside the West-East contradiction.

Koirala and Jayaprakash Narayan intervened in favour of the Indian socialist leader Ram Manohar Lohia's proposal for a 'Third Force'.

[16] In the end, the conference adopted a resolution calling for support of democracy, condemning capitalism, communism and imperialism.

[6] During his stay in Rangoon, Đilas gave an interview to the Yugoslav party organ Borba, stating that "[t]he Conference has revealed that in Asia, especially in India, Burma and Indonesia, there are very significant combat forces, able to fight not only against the old colonialism but also against Cominformism and the Soviet and Chinese hegemony... [These nations] have unmasked the anti-Socialist soul of the Soviet Union and its satellites.

The Burmese Kyaw Nyein was selected as the Treasurer of ASC, a difficult task considering the underfunding of the Rangoon office.

The meeting adopted resolutions on topics 'On Peace Settlements' (supporting the admission of the People's Republic of China into the United Nations, calling for elections to a constituent assembly under international supervision in Indochina, calling for reunification of Korea under an international authority acceptable to both sides), 'K.M.T.

The meeting expressed its hope in continued cordial relations with the Socialist International and the League of Communists of Yugoslavia.

These two organisations had observers present at the meeting, Morgan Phillips from the SI and Dobrivoje Vidić from the Yugoslav party.

The Rangoon Secretariat was joined by one of the secretaries of the Anti-Colonial Bureau, Jim Markham of the Convention People's Party of the Gold Coast.

The two Japanese parties had debated for a long time before being able to agree on a common candidate for ASC Joint Secretary.

The Vietnam Socialist Party applied for ASC membership at the meeting, but the Bureau decided to wait with taking a decision on the application until a factfinding mission had been sent to Indochina and Malaya.

Regarding the reports of the factfinding missions, the Bureau meeting decided to suggest the next Conference to approve membership for the Vietnam Socialist Party.

But problems in finding an adequate composition arose immediately, as the Moroccan appointee refused to sit in the same committee as a representative of the Israeli party.

Another resolutions called for Soviet withdrawal from Hungary, recognition of the People's Republic of China in the United Nations, and reunification in Vietnam and Korea.

Notably, whilst not joining the Egyptian and Lebanese walk-out, the Pakistani party retained reservations about the role of the Israeli delegation.

[18] At the same time, the ASC provided a space for Mapai (which was the governing party in Israel) to foster relations with Asian socialists, contacts that were later to be translated into strengthening of bilateral diplomatic links with states such as Burma and Nepal.

[30] In the case of Burma, the meetings at the Rangoon conference led to the opening of diplomatic links and, soon afterwards, the first appointment of an Israeli ambassador (David Hacohen) to an Asian country.

[31] With Israel's role in the Tripartite attack on Egypt in 1956, relations between Mapai and socialist parties in Asia deteriorated.