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Sub-regional Economic Cooperation : Implications for Central Asia and South Caucasus. Mya Than. Regionalism: Conditions. Countries must have 1. Geographical proximity 2. Cooperation of countries either in economic, political or social fields
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1. Geographical proximity
2. Cooperation of countries either in economic, political or social fields
3. Setting up a regional cooperation for the achievement of common purposes
2. Objective: To promote free movement of factors of production & effective distribution of outputs
3. Mechanism: To gain from economy of scale
6 stages from Economic Cooperation to Economic Integration
Forms Free intra- Common Free factor Common trade trade policy mobility monetary &
FTA Yes No No No
Customs Union Yes Yes No No
Common Market Yes Yes Yes No
Economic Union Yes Yes Yes Yes
Definition: Economic cooperation between two or more countries within the region or outside the region by removing tariffs between partners without adopting a common tariff policy.
Objectives of FTAs
World Total 250 (2002)
300 (2005) estimates
East Asia Total 72 (2003)
Under negotiation 20
Under study 19
Southeast Asia 51
Under negotiation 23
Under study 12
1990 1995 2000 2003
ASEAN 18.0 21.0 22.8 22.3
ASEAN+3 28.6 37.1 37.3 38.9
NAFTA 37.3 42.0 46.9 44.9
EU (25) 65.2 65.2 64.6 66.1
Mercosur - - 17 -
* Total trade as % of their total world trade
I. Economic Geography
1. Growth Triangle
(a) IMS-GT (Indonesia-Malaysia-Singapore)
(b) IMT-GT (Indonesia-Malaysia-Thailand)
2. Growth Quadrangle
(a) Golden Quadrangle (Yunnan-Laos-Myanmar-Thailand)
(b) BIMP-EAGA (Brunei-Indonesia-Malaysia-Philippines)
Or (East ASEAN Growth Area)
II. River-based Cooperation
1. GMS (Greater Mekong Sub-regional Eco. Cooperation)
2. ACMECS (Cambodia-Laos-Myanmar-Thailand-Vietnam) Or (Ayeyawady-Chao Phra-Mekong Eco. Cooperation Strategy)
3. MG-EC (Mekong Ganga Eco. Cooperation)
(Mekong Countries and India)
III. Cross-subregional Cooperation
1. BIMST-EC (Bay of Bengal Multi-Sectoral Technological Eco. Cooperation) (Bangladesh-Bhutan-India-Myanmar-Nepal-Sri lanka-Thailand)
Concept: To link three areas with different factor endowments and different comparative advantages for a larger region with greater potential for economic growth.
Definition: A sub-regional economic zone encompassing geographically contigous areas of two or more countries in the economic integration process which involves the flow of goods, services, investment and people. GTs also could be considered as “cross-border economic zones”.
Rationale: To exploit the complementarities of the geographically contiguous areas to achieve accelerated economic development by means of enhancing competitiveness of participating areas and of promoting their exports in the global marketplace
1. Metropolitan Spillover into Hinterland
2. Joint Development of Natural Resources
3. Common Geo-political Interest
(ASEAN before 1997)
What Is IMT-GT
Coordinating secretariat in each of the IMT-GT countries;
Coordinating the activities, plans & progress of their respective ministries and government agencies involved in one way another with the IMT-GT;
Holding the annual Senior Officials Meeting (SOM) and Ministerial Meeting (MM) to take stock of the problems & progress faced by the IMT-GT; and others.