Amid the continuing uncertainty in the global trade, widening social disparities, and increasing environmental concerns, the publication entitled "Unlocking the Potential for East and North-East Asia Regional Economic Cooperation and Integration" aims to lay the groundwork for building bridges between East and North-East Asia economies and beyond.
East and North-East Asia is home to some of the most advanced and globally-linked economies together with less developed and isolated countries. It is characterized by diversity in terms of stages of development, economic structure and size, political systems and culture. Due to these differences and long standing historical and geopolitical tensions, institutionalized regionalization has not made much progress. The report gives an overview of the current state of subregional cooperation and integration, and identifies potential areas for further strengthening subregional linkages including required policy actions.
Specifically, the report explores the issues and prospects of moving towards market integration through trade, foreign direct investment and movement of people; developing seamless connectivity in transport and energy; enhancing financial cooperation; and addressing shared vulnerabilities on environment and disasters under the framework of the Bangkok Declaration on Regional Economic Cooperation and Integration. It proposes a set of recommendations for East and North-East Asia that would help the subregion reap greater benefits from strengthened cooperation and become a building block for deeper integration within the Asia-Pacific region.