Article by Hemant Batra *
"I am never satisfied with the progress, I want things to move faster..." this was said by ASEAN Secretary General, H.E. Mr. Ong Keng Yong to the Business Standard, a business news publication, on the sidelines of a seminar organised by non-aligned Research and Information Systems and the Federation of Indian Chambers of Commerce and Industry (FICCI).
It is indispensable to appreciate the significance of intra-regional trade as it has a positive impact on the other countries, which form the inter-regional trade. Some people view world trade as consisting generally of intra-regional trade and the inter-regional trade. There is also talk of regionalisation versus globalisation of world trade. In 1980s, the share of intra-regional trade in total world trade increased in Western Europe, North America and Asia. In 1990 intra-regional trade in goods accounted for 61% of total trade in goods of the European Community – 41% for Asia and 35% for North
