Challenges and Opportunities for Trade and Financial Integration in Asia and the Pacific

Abstract

During the past two decades, intraregional trade has assumed a lot of importance - with intraregional trade growing rapidly in several regions, such as the Association of Southeast Asian Nations (ASEAN), North American Free Trade Agreement (NAFTA) and the European Union. However, intraregional trade in South Asia has not witnessed rapid expansion despite the institutional measures taken by the South Asian countries through the South Asian Preferential Trade Agreement (SAPTA) and the South Asian Free Trade Agreement (SAFTA).intraregional trade, South Asia, ASEAN, NAFTA, SAFTA, SAPTA