GRM 2010 GRM 2011

Abstract Details

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The Economic and Trade Cooperation between the ASEAN and GCC
Paper Proposal Text :
The ASEAN and GCC had scattered relationship in the early period, and then they shared the deep multi-commodity trade-based economic and trade cooperation with the “food for oil” as the core content of the framework; In this process, the two sides established the free trade area and common markets respectively, and the establishment of the ASEAN-GCC Free Trade Area become their consensus. The Singapore-GCC Free Trade Area and the Malaysia’s aspirations can be regarded as progressive concrete steps of the ASEAN and GCC. Besides, there also has been significant progress in institution building between ASEAN and GCC, which have formed the Ministerial Conference and achieved the exchanges of ambassadors. All of those have a real positive meaning to further protect security interests of the two organizations. The ASEAN-GCC Free Trade Area will become an important part for connecting the world’s other areas in the future.
The ASEAN and the GCC are the most mature regional organization in East Asia and the Middle East respectively whose development process has gone from the political and security organizations to economic ones. From the perspective of economic integration, the ASEAN has integrated 10 member states in economic and trade development; especially the ASEAN Free Trade Area is to promote the process of economic integration in Southeast Asia. At the same time, the GCC has coordinated the development of six gulf oil monarchies. These two regional organizations have a huge role in promoting economic cooperation and free trade for member states. From the perspective of regional economic cooperation, the ASEAN as a whole established the “10 +3” mechanism with Japan, South Korea and China, which involved in the development and cooperation issues and covered most of the East Asian countries (except North Korea). The ASEAN-China Free Trade Area has also started on January 1, 2010. Besides that, the ASEAN member countries also have participated in the Asia-Pacific Economic Cooperation (APEC). The ASEAN are the key part to connect East Asia, Oceania and the Americas for national economic and trade cooperation. On the one hand, the GCC has already had economic and trade ties with other Islamic-Arab countries of the Middle East, particularly ones in the Mediterranean Sea. In the European-Mediterranean cooperation framework and under the plan of establishing a Free Trade Area, the GCC and the EU Free Trade Area are also on continuous negotiation. The GCC countries also play a crucial role of connecting Maghreb and the Levant countries in the Mediterranean coast and the EU. Therefore, the economic cooperation and trade relations of the ASEAN and GCC have connected the world economy and promoted the Free Trade Areas in recent years. It is a model for the South-South cooperation in the third world countries and also a breakthrough of the traditional attachment theory and “center – periphery” theory.