This study examines the trends and issues of intra-regional trade of ASEAN ahded of ASEAN Economic Community in 2015. For comparative study we examine the cases of EU, NAFTA, and MERCOSUR as well. ASEAN has achieved the economic development through tr...
This study examines the trends and issues of intra-regional trade of ASEAN ahded of ASEAN Economic Community in 2015. For comparative study we examine the cases of EU, NAFTA, and MERCOSUR as well. ASEAN has achieved the economic development through trade liberalization and export-oriented strategy. Furthermore, intra-regional trade of ASEAN has been accelerated along with the launch of a regional free trade agreement AFTA in 1993, and free trade agreement(FTA) with China, Korea, Japan, India, and EU since the mid-2000s. For example, ASEAN’s trade volume has increased sharply and the intra-regional trade share has increased gradually during last 30 years (1980~2012). However, the quantitative growth like increase in the scale and share is not sufficient condition for the improvement of level of trade of qualitative growth. For ASEAN, intra-regional trade intensity index and regional trade introversion index have decreased in spite of the increase ofthe volume and share of intra-regional trade. On the contrary for EU, NAFTA, MERCOSUR, the intra-regional trade intensity index and regional trade introversion index have increased gradually meaning of the advance of intra-regional economic integration in these economic area. In particular, in order to successful launch of the ASEAN Economic Community by 2015 the strengthening of the linkage of production line and supply chain among ASEAN countries are necessary. Therefore, for the development of more comprehensive intra-regional trade development and a high level of regional economic integration, the liberalization of intra-regional trade should be advanced and the orders and norms for the trade need to be sought. In addition, intra-regional trade needs to be oriented toward final goods, especially consumer goods. The deepening intra-regional trade with a quantitative growth of trade in the region would be the one of the essential factors for the successful realization of the ASEAN Economic Community.