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International Journal of Contemporary Research in Multidisciplinary

International Journal of Contemporary Research In Multidisciplinary, 2024;3(1):102-105

Regional Integration and Collaboration in Asia-Indo-Pacific, Europe and the World

Author Name: Chetna Rana, and Vishav Pratap Singh

Abstract

This paper evaluates the independence and regional integration of the region, as well as the weight of Asia-Pacific and Europe in the world economy. In this paper, we see that the Economic and Social Commission for Asia and the Pacific can play an important role in helping the region seize these opportunities by using its inter-governmental mechanisms, operations, and diverse skills in support of RECI. ESCAP is currently working to strengthen the content of regional economic plans through its existing programs and joint committees in the areas of transportation, information and communications technology, energy, financial development, business replicas, and disaster reduction. It also collaborates with regional cooperation organizations such as SAARC, PIF, and ECO to provide operational cooperation for the "One Belt, One Road" initiative. At the recently concluded (2019) ASEAN Senior Officials Meeting (SOM) held in Bangkok, Thailand, the Ten State Association (ASEAN) received the “ASEAN Seal” after more than a year of negotiations. It is also an initiative to enhance maritime cooperation and create an environment conducive to regional peace, stability, and prosperity while solving different problems and improving business relations. These are just a few of the important parts of the process. In this article, we also examine how Asia views Europe. Annual trade between Asia and Europe reaches US $1.5 trillion, making them the two largest economies in the world and exceeding the trade volume of all countries and the United States.

Keywords

Asia-Indo-Pacific, Regional Cooperation, Optimal Currency Area, Islamic Development Bank, Europe