We are intrigued by the comment of President Hugo Chavez during the World Social Forum in Caracas in 2006 that these practices “go beyond the logic of capitalism.” Yet we cannot romanticize these efforts. These include escalating trade conflicts between major economies, rising interest rates driven by the tightening of monetary policy in advanced economies, rising oil prices and waning investor confidence in emerging markets. This trend … The period 1960-1980, however, witnessed the emergence of the major regional integration schemes that pushed forward the Continent’s economic integration agenda. However, they can have disadvantages, too. 1. 7/No. The challenges of regional integration in Southern Africa Mark Chingono* and Steve Nakana University of Zimbabwe, P. O. The EPA negotiations revealed important gaps between political ambitions and economic reality in African regional integration. This is the most basic form of economic cooperation. Regional Integration is a process in which neighboring countries enter into an agreement in order to upgrade cooperation through common institutions and rules. Fax: +66 2 255 9976. Available online: http://investmentpolicyhub.unctad.org/. Within the Indian Ocean, East Asian and Pacific ports dominate container traffic, accounting for 63 per cent of total regional container traffic in 2017. That said, there has been a renewed interest in IORA more recently, with the organisations first heads of government meeting being held in March 2017 (Waidyatilake, 2017), though this has not been accompanied by additional research assessing the emerging challenges that regional cooperation in the Indian Ocean faces today. Daily Trust (Abuja) opinion By Abubakar M. Sambo. Today, the Indian Ocean hosts 23 of the world’s top 100 container ports.33According to the 2017 Lloyd’s List Top 100 Container Ports Rankings. ASEAN Studies Center, Chulalongkorn University, Thailand, The Indian Ocean and the rise of a multi-polar world order: The role of China and India, Beyond the string of Pearls: Is there really a Sino-Indian security dilemma in the Indian Ocean, Rethinking maritime security in the Indian Ocean region, International Labour Organisation and Brussels: European Commission, ‘Blue economy’ in Southeast Asia: Oceans as the new frontier on economic development, Major opportunities of ‘Blue Economy’ development in Bangladesh, Indian Ocean regionalism: Is there a future, The Sri Lankan Silk Road: The potential war between China and the United States, Research and Information System for Developing Countries, Maritime Transport Database: Foreign direct investment: Inward and outward flows and stock, annual, Maritime security and the ‘blue economy’: Intersections and interdependencies in the Indian Ocean, Will South Asia benefit from Pan-Asian integration, Japan’s export of infrastructure systems: Pursuing twin goals through developmental means, ASEAN-India Centre & ASEAN Studies Center-Thailand, Challenges to Regional Economic Integration, Opportunities and Challenges for Regional Economic Integration in the Indian Ocean, Asian Development Bank [ADB] & Asian Development Bank Institute [ADBI], 2014, https://www.worldatlas.com/articles/the-oceans-of-the-world-by-size.html, https://www.wto.org/english/tratop_e/serv_e/cbt_course_e/c1s3p1_e.htm, http://www.oecd.org/investment/fdiindex.htm, https://www.un.org/development/desa/dpad/least-developed-country-category/ldcs-at-a-glance.html, https://saiia.org.za/research/china-and-africas-natural-resources-the-challenges-and-implications-for-development-and-governance/, http://oceansbeyondpiracy.org/publications/economic-cost-somali-piracy-2012, https://www.cgdev.org/sites/default/files/examining-debt-implications-belt-and-road-initiative-policy-perspective.pdf, http://data.imf.org/?sk=9D6028D4-F14A-464C-A2F2-59B2CD424B85, http://www.imf.org/external/pubs/ft/weo/2018/01/weodata/index.aspx, https://www.atkearney.com/web/global-business-policy-council/article?/a/-2020-seven-growth-economies, https://www.gppi.net/2017/11/02/engaging-with-the-indian-ocean, https://stats.oecd.org/Index.aspx?datasetcode=FDIINDEX#, https://www.stimson.org/content/maritime-commerce-and-security-indian-ocean, https://unctad.org/en/PublicationsLibrary/ditcted 2014d5_en.pdf, http://unctadstat.unctad.org/wds/TableViewer/tableView.aspx, https://www.unescap.org/publications/unlocking-potential-regional-economic-cooperation-and-integration-south-asia-potential, Retrieved from https://www.lki.lk/publication/indian-ocean-rim-association-scaling/, http://www.pmoffice.gov.lk/download/press/D00000000050_EN.pdf?p=7, https://www.odi.org/publications/11202-asia-2025-development-prospects-and-challenges-middle-income-countries, https://openknowledge.worldbank.org/bitstream/handle/10986/26843/115545.pdf?sequence=1&isAllowed=y, http://iresearch.worldbank.org/servicetrade/, http://www.doingbusiness.org/data/exploretopics/trading-across-borders, https://www.wto.org/english/res_e/statis_e/statis_e.htm. Regional integration in Africa : Challenges and prospects* A contribution to the Handbook of Africa and Economics Jaime de Melo Yvonne Tsikata Abstract Political motives, geography, and the uneven distribution of gains trumped the traditional efficiency gains across Africa’s Regional Economic Communities (RECs). These countries could find themselves stuck in the ‘missing middle’ of development finance, when total resources available fall as the country moves from low until well into middle-income status (Wignaraja et al., 2018). While other regions have successfully used their integration mechanisms to improve their economic It would also help to insure against rising protectionist tendencies internationally, as well as strengthen global and regional value chains. Chapter II offers an overview of the regional integration process, including progress on intra-regional trade liberalization, the deepening and the widening of CARICOM. MULTILATERAL INSTITUTIONS AND ACCESS TO INFORMATION, Walden Bello: ‘It is time to aim beyond capitalism’, A visit to India’s Singhu Border protest camp, The political education of Thailand’s dissident youth, Civil society demand Laos government reveal Sombath’s fate, On the passing of our comrade Soren Ambrose, The WTO and Developing Countries: a Foreign policy in Focus Brief on WTO, Farmers demand government to repeal Rice Liberalization Law, Neoliberalism as hegemonic ideology in the Philippines: rise, apogee, and crisis, Philippines: Informal Workers face brunt of COVID-19 Lockdown, Right to Food and Food Security in the Philippines: What the Numbers Say, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Deepening of democratic government systems. (2018) link the blue economy to maritime security in the Indian Ocean by pointing to a peaceful ocean as both an enabler of a prosperous blue economy and a potential source of economic development and growth. This ‘business as usual’ scenario is based on projections of several key indicators for the Indian Ocean economy (see Figure 5). As such, there is scope to reassess the situation. The sixth section concludes with policy implications. Economic integration, or regional integration, is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies. In our view, this fund could usefully complement existing national and donor efforts in the sphere of trade-related development in the region’s LDCs and middle-income countries (MICs). The discrimination is something which depends on community and country discrimination as well. However, to benefit from liberalisation, factors of production need to be reallocated between and within sectors. Meanwhile, the importance of trade within sub-regions has remained largely static. The scope of trade liberalisation among these FTAs also varies significantly, with some covering only goods, while others also incorporate rules on trade in services and investment. Further research by think tanks seems warranted on the feasibility and terms of reference of the IODF. Container traffic through the region’s ports has expanded significantly. Designed by Elegant Themes | Powered by WordPress, Why Obama will read the riot act to Arroyo, #RiceNotBullets: Denial of food and Shooting of Farmers are Both Forms of Violence, Human Rights Violations, กลไกระงับข้อพิพาทระหว่างรัฐและนักลงทุนในข้อตกลงความร่วมมือหุ้นส่วนยุทธศาสตร์ภาคพื้นเอเชีย-แปซิฟิก (Trans-Pacific Strategic Economic Partnership Agreement: TPP), DISCLOSURE,OR DECEPTION? (. Among the most outstanding features of the current processes of regional economic integration are: 1. I propose these as some of the key questions to guide our discussion of regional integration over the next two days. Except where otherwise noted, content on this site is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. As a result, African governments have concluded a very large number of regional integration arrangements, several of which have Achievements and Constraints in Cooperation and Integration 4 IV. Gradually reducing barriers to trade and investment would support trade-led growth in the Indian Ocean. After a literature review in the second section, this article undertakes three related empirical tasks on the period since 2000. Regional economic integration occurs when countries come together to form free trade areas or customs unions, offering members preferential trade access to each others' markets. The World Bank Group helps its client countries to promote regional integration through common physical and institutional infrastructure. The simple average tariff rate55The simple average tariff level is the unweighted average of the effectively applied tariff rates for all products. Significant economic progress notwithstanding, development disparities and capacity gaps also remain and regional economic governance is at a nascent stage compared to those in the Americas or Europe. Chulalongkorn University, Phayathai Road Lean Library can solve it. West Africa: Ecowas - the Challenges of Regional Integration. Regional economic integration has enabled countries to focus on issues that are relevant to their stage of development as well as encourage trade between neighbors. Source: LKI calculations based on World Bank (2018a) and IMF (2018d). Tackling these challenges requires a combination of coherent national and regional policy measures. Table 2 provides some indicators to compare trade-related infrastructure and trade barriers in the Indian Ocean economy against the OECD.44Policy benchmarking is increasingly used in studies of regional integration. 9 DRC is member to at least 4 REC’s. Source: Compiled using information available on official websites of these respective institutions. The first is how to build regional blocs that go beyond trade to include industrial policy, a shared agricultural... 2. Source: LKI calculations based on UNCTAD (2017). There are four main types of regional economic integration. The challenges of regional integration in Africa • page 1 Paper 145 • June 2007 Introduction It is widely acknowledged that Africa’s integration efforts have thus far failed to bear satisfactory fruit. The second is how to ensure that building complementarity among economies does not reproduce the old, unequal division of labor between stronger and weaker economies. International relations and its sub-field of international security studies typically views the Indian Ocean economy as a major conduit for international trade, especially energy and as a significant source of fishing and mineral resources. Most existing research on the Indian Ocean economy has been conducted through the lens of international relations and strategic studies. The concern for regional cooperation and integration in Africa predates independence. Introduction Regional integration as a strategy of the collective economic survival of nations around the world has gained prominence in recent times. The region is on course to account for around 20 per cent of world GDP in 2025 and its per capita incomes may double to US$ 6,150 between 2017 and 2025. Trades in different countries have certain restrictions as well as some tariffs, which can be issued in a very discriminatory manner for sure. The share of the region’s population living in extreme poverty (defined as an income level of less than US$ 1.90 per day) could fall from 11.8 per cent in 2017 to 7 per cent by 2025. Regional cooperation can take different forms which depend on the objectives of the states that are involved. The global financial crisis has stimulated a broad reassessment of economic integration policies in developed and developing countries alike. Given the diversity of the Indian Ocean economies, it is perhaps inevitable that the quest for Indian Ocean economic regionalism is likely to remain ‘institution light’ for the foreseeable future. It has given nations the options of cooperation and competition. Regional integration is viewed as a significant initiative with regard to stimulating economic growth amongst member states and enhancing intraregional trade, security initiatives, and bilateral and multilateral agreements. challenges to regional integration in africa: the case of the revived east africa community 2000-2012 gichohi marvin muhammad r50/69883/2011 a thesis submitted in partial fulfillment for the degree of master of arts in international studies.institute of diplomacy and international studies, university of … The email address and/or password entered does not match our records, please check and try again. Sequencing This includes the 21 members of the Indian Ocean Rim Association (IORA), plus Brunei, Cambodia, the Maldives, Myanmar, Pakistan, Timor-Leste and Vietnam. COMESA and SADC: Prospects and Challenges for Regional Trade Integration Prepared by Padamja Khandelwal1 Authorized for distribution by Hans Peter Lankes December 2004 Abstract This Working Paper should not be reported as representing the views of the IMF. This agreement is currently under negotiation among 16 Asia-Pacific economies including important Indian Ocean economies such as Australia, Cambodia, India, Indonesia, Malaysia, Singapore and Vietnam. Advances and Challenges in Regional Integration Jointly organized by Hitotsubashi University and the IMF Regional Office for Asia and the Pacific March 3-4, 2016 A decade ago, there was much discussion about when Asia might achieve full economic integration, including the establishment of a … Please read and accept the terms and conditions and check the box to generate a sharing link. Progress on domestic economic reforms could also have a bearing on the Indian Ocean’s outlook. 10This accounted for 15.9 per cent of world ODA flows in 2016, but is less than US$ 10 per person. Overall Indian Ocean container traffic was equivalent to 22 per cent of global container traffic in 2017. However, these competing large-scale initiatives and donor programmes may also present some challenges to recipients, including a lack of coordination between competing donors, differing social and environmental standards, insufficient progress on the domestic regulatory reforms needed to maximise the benefits of new infrastructure and risks to debt sustainability in recipient economies (see Hurley, Morris, & Portelance, 2018; Yoshimatsu, 2017). Another is the subsidization of the oil needs of 14 Caribbean countries by Venezuela, which sells fuel to them at 40 per cent off the world price. 7https://www.wto.org/english/tratop_e/serv_e/cbt_course_e/c1s3p1_e.htm. Furthermore, RCEP addresses the special needs of less-developed ASEAN economies through early elimination of tariffs on products of interest to them and through the provision of development assistance to narrow development gaps. While the IMF, the World Bank, and United Nations (UN) provide regular country and regional macroeconomic analysis, this has been confined to more traditional geographic groupings typically based on shared land borders. Emphasis is placed on opening markets, eliminating trade barriers a… A classic hub and spoke network of some 11 regional institutions and FTAs are involved in governing the Indian Ocean economy and furthering regional economic integration. South Asia’s trade with itself has only marginally increased from 3.2 per cent of its total trade in 2000 to 3.6 per cent in 2017. The fifth is how to avoid a technocrat-led process and promote instead the democratization of decision-making in all areas of the economy. A large amount of research in this area is focused on the growing strategic and economic rivalry between India, the largest Indian Ocean littoral state and China (Bastos, 2014; Brewster, 2014; Chaudhury & Basu, 2016), though Mohan (2017) and Mendis (2012) have also considered the strategic importance of the Indian Ocean for Europe and the United States, respectively. This structural change is a key source of gains from trade but brings with it costs of adjustment (Francois, Jansen, & Peters, 2011). The major strategic risks they identify are: the possibility of disruption to energy exports from the Arabian Gulf and Iran to the rest of the world, the risk of an open conflict between India and Pakistan, security threats to the key shipping lanes that pass through the Indian Ocean, and the possibility of military confrontation between major powers in the Indian Ocean. However, inter-country comparisons of the quality of port infrastructure are difficult due to measurement problems, statistical gaps and the inherently subjective nature of such evaluations. Annual budgets also range from less than US$ 0.5 million for the Colombo Plan to over US$ 400 million for the African Union. Regional integration is seen as a rational response to the difficulties faced by a continent with many small national markets and landlocked countries. Trade volumes in the Indian Ocean grew by an annual average of 9.4 per cent from 2000 to 2008, though growth settled at a slower average of 4.8 per cent from 2011 to 2017 after the global financial crisis. For many of us from outside Latin America, the dynamics of ALBA hold particular interest. But the nature of global integration is changing, entailing new challenges for policymaking. In grappling with the challenges facing regional integration efforts in Africa, advocates of greater unity have identified a number of other requirements for success: Accepted 12 September, 2008 Regional integration is increasingly being accepted as essential in facilitating economic and political development. However, the continued rise and economic dynamism of the Indian Ocean economy is not guaranteed. Policy makers, leading economists and CMI program leaders examined the main lessons and findings from the European growth model and the realities of interdependencies between both rims of the Mediterranean. One item that fascinates us is the use of barter as a key method of trade, for instance, the exchange of Venezuelan oil for Bolivian soybeans or of Venezuelan oil for medical services rendered by Cuban volunteers. Regional economic integration has enabled countries to focus on issues that are relevant to their stage of development as well as encourage trade between neighbors. 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