Asian Development Bank announced an index to measure the degree of regional integration and cooperation of Asia Pacific and to be able to compare it with that of other regions in the world. The indicator takes six dimensions into account; trade and investment, money and finance, regional valu chian, infrastructure and connectivity, movement of people and institutional and social integration. In turn, each one of these areas composed of different indicators. As observed in the graph, European Union was the region with the highest degree of regional integration and cooperation in 2016 according to the index. If we compare Latin America and Asia, Latin America and the Caribbean has higher degree of institutional and social integration while Asia show the higher degree in the sector of money and finance and that of trade and investment.
The Preferential Trade Agreement Between MERCOSUR and India Consolidates Nearly Two Decades as a Pivot for South-South Cooperation
Since its implementation in 2009, this tariff instrument shared by Argentina, Brazil, Paraguay, and Uruguay has been key to diversifying the block’s export destinations and strengthening trade with one of the most dynamic economies in the Asia-Pacific.
