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 The increasing number of trade agreements – bilateral, regional, and multilateral – creates major opportunities for developing countries in the Asia and the Pacific to better participate in the international trading system and thus accrue the benefits of globalization. Some countries especially in East Asia have reaped the benefits of globalization adopting outward-oriented development strategies and investing in infrastructure. But others – particularly the least-developed countries (LDCs) and small states – lack the productive capacity and infrastructure needed to take advantage of open markets and to connect with the global economy. These 22 LDCs and small states are spread across all the sub- regions of the Asia and the Pacific. Read more |
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