Asia is being urged to enhance trade integration as a strategic response to ongoing economic challenges. The region faces numerous external shocks and escalating global trade tensions that threaten its economic stability.
Key recommendations focus on the necessity to reduce trade barriers and bolster regional trade networks. Strengthening these connections is seen as essential to sustaining economic growth and ensuring resilience against external disruptions.
Reasons for Trade Integration
- Mitigate impacts of external economic shocks
- Strengthen regional supply chains
- Enhance competitiveness in the global market
- Promote sustainable economic growth
Proposed Measures to Enhance Trade
- Lower tariffs and non-tariff barriers
- Improve trade facilitation and infrastructure
- Encourage harmonization of trade regulations
- Foster collaboration among regional trade bodies
By prioritizing these steps, Asia can better navigate the uncertainties of the global economy and maintain a path of robust economic development.
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