GROUP 3
MARIELLE B. BANQUIRIGAN
INTEGRATION OF THE ASIAN REGIONS
REGIONAL INTEGRATION
- It is the process by which two or more nation-states agree to co-operate and
work closely together to achieve peace, stability and wealth.
TYPES OF REGIONAL INTEGRATION
1. Supranational Institutional Structures
- An administrative structure that goes beyond the boundaries of states.
2. Intergovernmental Decision-making
- It treats states (and national governments in particular) as the primary actors in
the integration process.
FACTORS OF ASIAN INTEGRATION
1. Trade
- The world economy is intertwined with each
other whether we like it or not. We all want or
need something from another part of the world,
and global trade facilitates all the transactions.
2. Similar Culture
- The culture of Asia is diverse but they do share many
things. This makes it easier to fit during times of
negotiations. The people of this region are generally
alike in appearance, temperament which is seemingly
peaceful. They tend to get along quite well even on an
individual level.
3. Common Goals
- The Asian region recognizes the mutual benefit of a
slow integration, and that is to accelerate economic
growth, social progress, and cultural development
and to promote peace.
4. Mutual Benefits
- When it comes to trade, these nations can readily simply each other's
needs.
GROUP 3
MARIELLE B. BANQUIRIGAN
5. Similar Security Needs
- Aside from small localized rebels, this association needs only to contend
with foreign supported terrorist groups which are usually handled well.
6. Trading Agreements
- Regional trading agreements refers to a agreement that
is signed by two or more countries to encourage free
movement of goods and services across the borders of its
members.
- The agreement comes with internal rules that member
countries follow among themselves.
- When dealing with non-member countries, there are external rules in
places that the members adhere to. Quotas, tariffs, and other forms of
trade barriers restrict the transport of manufacturing goods and services.
- Regional trading agreements help reduce or remove the barriers on trade.
Types of Regional Trading Agreements vary depending on the level of
commitment and arrangement among the member countries.
BENEFITS OF ASIAN INTEGRATION
● It harnesses the strength of diverse economies.
● It provides platform for connecting financial markets.
● It makes the economy more resilient to global risks.
● It pools resources.
● It creates regional mechanisms for safety and security.
CHALLENGES
● There is a need to establish compatible product standards.
● The need to establish guidelines that buffer financial contagion and ensure
compatible financial regulations.
● The need to coordinate macroeconomic policies.
● The need to manage cross-border environmental and social policies (e.g. fair
treatment of migrant workers).
GROUP 3
MARIELLE B. BANQUIRIGAN
EXISTING COOPERATION IN ASIA
● Association of Southeast Asia Nations (ASEAN)
- Founding Members (1967): Indonesia, Malaysia,
Philippines, Singapore, and Thailand.
- Current Members: Brunei, Cambodia, Indonesia,
Laos, Malaysia, Myanmar, Philippines,
Singapore, Thailand, and Vietnam.
● ASEAN +3
- Members: The 10 ASEAN countries plus China, Japan, and South Korea.
- Established in 1997, in response to the Asian financial crisis.
● ASEAN +6
- Members: The 10 ASEAN countries plus
China, Japan, South Korea, India, Australia,
and New Zealand.
- Established in 2005 as a forum for strategic
dialogue on key challenges in the region.
The membership has grown over time as these
frameworks have evolved to address broader
regional cooperation and integration.
● Asia Pacific Economic Cooperation
- Established in 1989
- Members: 21 economies in the Asia-Pacific region
- Founding Members: Australia, Brunei
Darussalam, Canada, Chile, China,
Hong Kong, Indonesia, Japan,
Malaysia, Mexico, New Zealand,
Papua New Guinea, Peru, Philippines,
Russia, Singapore, South Korea,
Taiwan, Thailand, United States,
Vietnam
