Asian Economic Integration Report 2023

,

doi:10.22617/tcs230031-2

2023

DOI: 10.22617/tcs230031-2

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Asian Economic Integration Report 2023

Abstract: The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they

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Comment on “ASEAN Economic Integration: Addressing Challenges and Embracing Opportunities”

Lee

2024

Asian Economic Policy Review

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Over the past several decades, the economies of the Association of Southeast Asian Nations (ASEAN) have made significant progresses in terms of per capita income and living standards. This economic growth in ASEAN has been accompanied by a concurrent increase in cross-border exchanges and a deepening of trade and investment within the region. The interconnectedness was supported by a strong trend of firms building supply chains to cater to both Asian and global markets.Park (2024) explores the macroeconomic and developmental policies necessary to stimulate economic integration and growth within ASEAN while also discussing the current outlook and risks facing the region. The paper offers insights into economic transformation and integration through trade and investment in ASEAN, serving as a useful reference for readers seeking to comprehend the status and future challenges of ASEAN economies.I have a few comments. Section 3 of Park (2024) provides valuable data and insights into ASEAN's economic integration via trade and investment, emphasizing the significant role of China in the region's trade. ASEAN's merchandise trade with China accounted for 18.6% of total ASEAN trade, comparable to its trade among ASEAN members at 22.3% in 2022.This section also analyzes the progress of global value chains (GVC) and regional value chains (RVC) in ASEAN. The GVC participation rate, defined as the share of value-added contents in ASEAN's gross exports exported for further processing overseas, reached 78.2% in 2022. Meanwhile, the ASEAN-to-ASEAN gross RVC participation rate, defined as "the share of ASEAN's merchandise exports that involves production in at least two economies using cross-border production networks to total gross exports with linkages all within the ASEAN region" (ADB, 2023), reached 54.8%. Therefore, ASEAN's RVC intensity is much lower than ASEAN's GVC intensity. This low RVC intensity must be associated with the important role of other Asian economies, notably China, in the global and regional production networks of ASEAN, as well as the industry and trade structure of ASEAN economies. We expect that ASEAN will continue to emerge as one of the most important regional hubs for GVC as the region experiences strong growth and develops more technologically intensive industries.

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Comment on “ASEAN Economic Integration: Addressing Challenges and Embracing Opportunities”

Lee

2024

Asian Economic Policy Review

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Opportunities for Kazakhstan exports in the Southeast Asian region in the context of current geopolitical upheavals

Zhanabergenova,

Shegirbayev,

Azatbek

et al. 2023

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This article discusses the main current processes of trade and economic cooperation between Kazakhstan and the region of Southeast Asia, in the current geopolitical conditions of the formation of the latest model of trade and economic interaction in the world. According to the available world trade forecasts, in the medium term, the large volumes of all world trade will move specifically to the region of Southeast Asia. This is due to several factors, including changing geopolitical conditions, changing delivery routes and increased interest from international investors. Kazakhstan, given the lack of access to the World Ocean, have to make significant efforts to build accessible logistics in the direction of the European Union – Southeast Asia, which will increase transit flows through Kazakhstan territory. In addition, it is necessary to carry out more active work to promote domestic enterprises to the market of Southeast Asian countries. Particular emphasis in the course of this research work was placed on the opportunities and potential for increasing Kazakhstani exports to Southeast Asian countries, using the Comparative Advantage Index. As a result,the main categories of goods that have a certain competitiveness in the market of the Southeast Asian countries are determined, considering imports to the region from third countries. In general, Kazakhstan can increase its trade with Southeast Asia through improving transportation infrastructure, improving the legislative framework, and increasing its presence at events in the region.This work will be of interest both to representatives of the diplomatic corps of Kazakhstan and representatives of the business community interested in selling their products to the markets of the countries of Southeast Asia.

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Asian Economic Integration Report 2023

Cited by 2 publications

References 102 publications

Comment on “ASEAN Economic Integration: Addressing Challenges and Embracing Opportunities”

Comment on “ASEAN Economic Integration: Addressing Challenges and Embracing Opportunities”

Opportunities for Kazakhstan exports in the Southeast Asian region in the context of current geopolitical upheavals

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