ASEAN: Prospects for Regional Economic Cooperation

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In general, the past experience of ASEAN seem to show that its failure in promoting the full potentials of economic integration among its member countries. Difficulty in integration is usually attributed to differences in levels and paces of development, differences in protective structures and geographic sizes. This article looks into the economic context of the ASEAN Summit and its prospects for regional economic cooperation. It also discusses the relevant framework used and the previous attempts made by the authorities. Will integration be realized in the sense of its theory and tradition? Can the benefits of integration be achieved? Will the initiatives around Preferential Tariff Agreement be superior to customs unions? Read the author’s thoughts in this issue.