Seminar on Institutions for Integration: Toward an Asian Economic Community

Co-hosted by Asian Development Bank Institute and Asian Development Bank

Background

Over the past few decades, Asia has succeeded in expanding and integrating its regional economy and has established strong linkages with the global financial system. So far, the existing institutions and arrangements have served the region well. But progress of regionalism has remained uneven across subregions and thematic sectors. By most measures, East Asia is more extensively integrated than South Asia, Central Asia, or the Pacific. As a result, across the region, there is serious rethinking and discussion on the institutional framework needed to lock-in the realized gains and support the next steps for enhanced regional cooperation and integration.

Do we need to create new institutions, strengthen existing ones, or even look at consolidation? What will be the governance structure of Asian institutions? Are we ready to create a pan-Asian institution and delegate some degree of sovereignty to it? What has been the experience of other regions? What is the way forward? This new ADB flagship study is an attempt to answer these questions. More specifically, the study examines the institutional framework needed to sustain the region’s growth momentum, strengthen country cooperation, and increase the region’s contribution to the global economy.

Mr. Srinivasa Madhur, director of ADB’s Office of Regional Economic Integration, will present a brief background of the study, and the key findings and recommendations on how to achieve the vision of an “Asian Economic Community.” Following the presentation, there will be a panel discussion. (See agenda)