GICA RESOURCE LIBRARY
Monitoring Regional Economic Integration in Asia
Regional economic integration is a process in which two or more countries agree to eliminate economic barriers, with the end goal of enhancing productivity and achieving greater economic interdependence.
Given the diversity of Asia and the capacity constraints of countries in the region to manage integration, building an integrated Asian market is not easy. It requires not only the ability to implement initiatives to support the markets, but also a high level commitment by countries to ensure that policies are supportive of integration. Because regional economic integration is a complex process, there is a need to understand how the process works so that policy makers are better informed of its outcomes and to guide them in formulating integration-related policies. Hence, monitoring regional economic integration becomes crucial.