Friday, January 26

With three heads of state in one session, “Asean’s 40 years-A New Future” was a treat for any informed observer, like myself, of economic integration in Asia. Also, this session was a good reminder to all in that there are more nations in Asia than India and China. In fact, the Association of South-East Nations (Asean) has emerged as a core of economic integration in Asia. In addition to Asean itself, there are many free trade agreements: Asean-plus-Three (Japan, China, Korea), Asean-plus-Six (India, Australia, New Zealand, in addition), not to mention bilateral FTAs signed or planned by Asean with each of plus-six countries. Now East Asian Summit, Asean-plus-six grouping, has emerged as an important gathering in the region. Some scholars in the region predict that the economic union, much like EU, will emerge in several decades in Asia, while sceptics point out difficulties stemming from diverse stages of economic development, diverse political regimes, and historical political difficulties among Japan, China, and Korea.