Asia Regional Integration Center

Hsiao Chink Tang examines the impact of intra-Asia exchange rate volatility on intra-Asia trade in primary goods, intermediate goods, equipment goods, and consumption goods from 1980 to 2009. For Asia, the evidence shows that as intraregional exchange rate volatility increases, intraregional exports in all these goods fall. This adverse impact is even more pronounced in the sub-region of Association of Southeast Asian Nations (ASEAN)+5 (the People’s Republic of China; Hong Kong, China; Japan; the Republic of Korea; and Taipei,China) and especially among intermediate and equipment exports. These results have useful policy implications on the maintenance of exchange rate stability in the region. Read more. 

This first RTG Co-chairs report takes stock of the Asia-Pacific experience and identifies the way forward for the WTO Aid for Trade Initiative in the region. Aid for Trade offers the opportunity to close the gap between the two faces of the region. Download.

This edition of the Pacific Economic Monitor examines 2011 budget outcomes and 2012 budget plans in ADB's Pacific developing member countries. Download the report. 

Economic growth in emerging East Asia will continue to moderate to 7.2% in 2012 from 7.5% in 2011—as growing sovereign debt problems in Europe and an anemic US economy raise the spectre of a deep global economic downturn, says the Asian Development Bank’s latest Asia Economic Monitor.  In the event that both the eurozone and the US economies contract sharply, the impact on emerging East Asia would be serious yet manageable, the report says. Download report and press release. Watch video and listen to the podcast.

Next week in Baku, Azerbaijan, ministers from ten countries spanning the Caucuses, and Central, East and South Asia will gather to mark a decade of achievement, including $17 billion of investments in energy, trade and transportation under the Central Asia Regional Economic Cooperation Program (CAREC). Established in 2001, CAREC brings together Afghanistan, Azerbaijan, the People’s Republic of China (PRC), Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. It promotes the implementation of regional projects in energy, transport, and trade facilitation. Read more. Visit the CAREC Institute website.

Eli M. Remolona, Chief Representative for Asia and the Pacific of the Bank for International Settlements will discuss the issues involved in the further deepening of ASEAN financial markets. Of particular interest is the development of a deep and liquid corporate bond market, where regional cooperation is essential. Confirm attendance with Ruby Santiago.

Shintaro Hamanaka assesses whether technical assistance obligations under free trade agreements (FTAs) are WTO-plus. By presenting a detailed textual analysis of World Trade Organization (WTO) Agreements and several FTAs in Asia, the paper identifies how much additional technical assistance developing member countries can enjoy if they sign North–South FTAs with developed countries. Read more

South-South trade and trade agreements are booming amid the stalled Doha trade talks and a fragile world economy. In Asia alone, trade agreements have grown from only 3 to 61 between 2000 and 2010. This column by Ganeshan Wignaraja examines Asia’s experience and argues that South-South trade agreements should increase their coverage of goods and services and improve consistency with global rules to fully support South-South trade. Read more.