Regional Integration and Inclusive Development: Lessons from ASEAN Experience
The current economic crisis has lent extra urgency to ASEAN’s efforts at economic integration and raising its attractiveness for trade and investment. This process gained momentum in the 1990s and has made much progress, as reflected in the emergence of a wide range of extra- and intra-regional agreements. However, the effectiveness of this network of arrangements in stimulating trade and investment depends on not just the characteristics of each arrangement but how well they complement each other. This paper addresses these two areas by examining and evaluating past and present initiatives individually and collectively. Findings suggest that the fundamental impeding issues have endured over the years: lack of political will, ASEAN-style consensus-reliant negotiation, and insufficient management in implementing and harmonising of initiatives. Recommendations include agreement design innovation and focus on shared concerns to overcome lack of will, role expansion of the secretariat to monitor implementation through issuance of score cards, and establishment of specialised bodies such as sub-committees and working groups to enhance implementation and dispute settlement.
|Date of creation:||Dec 2008|
|Publication status:||Published in ARTNeT website|
|Contact details of provider:|| Web page: http://www.unescap.org/tid/artnet/|
References listed on IDEAS
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- Paul Vandoren, 2005. "Regional economic integration in South East Asia," Asia Europe Journal, Springer, vol. 3(4), pages 517-535, December.
- Ramkishen Rajan & Rahul Sen, 2002. "The Japan-Singapore Â“New AgeÂ” Economic Partnership Agreement: Background, Motivation and Implications," Centre for International Economic Studies Working Papers 2002-08, University of Adelaide, Centre for International Economic Studies.
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22034, East Asian Bureau of Economic Research.
- Hadi Soesastro, 2005. "Accelerating ASEAN economic integration: Moving beyond AFTA," CSIS Economics Working Paper Series WPE091, Centre for Strategic and International Studies, Jakarta, Indonesia.
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