List of Regional Blocs in Asia, Their Mandates, and Headquarters
1. Asia Pacific Economic Cooperation (APEC)
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- The Asia Pacific Economic Cooperation is a regional bloc formed by 21 countries namely;
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- China
- Hong Kong
- Indonesia
- Japan
- Republic of Korea (South Korea)
- Malaysia
- The United States of America
- Canada
- Mexico
- Australia
- Brunei Darussalam
- Chile
- New Zealand
- Papua New Guinea
- Peru
- The Philippines
- Russia
- Singapore
- Taipei
- Thailand
- Vietnam
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- APEC aims to secure growth and accelerate regional economic integration for the greater prosperity of the region’s population.
- This is because the nations came together informed by their high interdependence in Asia-Pacific trade.
- The APEC headquarters/secretariat is based in Singapore.
- The Asia Pacific Economic Cooperation is a regional bloc formed by 21 countries namely;
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2. Association of Southeast Asian Nations (ASEAN)
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- The Association of Southeast Asian Nations (ASEAN) is one of the most important trade blocs in Asia.
- It enjoys the support and membership of 10 Asian countries namely;
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- Singapore
- Thailand
- Vietnam
- Brunei
- Cambodia
- Indonesia
- Laos
- Malaysia
- Myanmar
- The Philippines
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- ASEAN has the following mandate;
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- Promoting economic and security cooperation among its Member States.
- It seeks to bridge the sharp balances between its member states with some being extremely poor than others.
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- The Association of Southeast Asian Nations is also intervening in regional security concerns such as the Myanmar military takeover, as well as China’s interest in the South China Sea.
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3. Regional Comprehensive Economic Partnership (RCEP)
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- 15 Asian countries struck a deal to form the Regional Comprehensive Economic Partnership (RCEP) in 2020.
- It became the largest trade bloc worldwide with its members jointly making up a third of the global economy.
- The RCEP Member States are;
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- South Korea
- China
- Japan
- Australia
- New Zealand
- Brunei
- Cambodia
- Indonesia
- Laos
- Malaysia
- Myanmar
- The Philippines
- Singapore
- Thailand
- Vietnam
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- The Regional Comprehensive Economic Partnership has the following mandate;
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- Methodically eliminating tariff and non-tariff barriers in the process of establishing a free trade area among Member States.
- Safeguarding intellectual property in telecommunications, finance, and e-commerce among other business sectors.
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- The RCEP headquarters are in Hanoi, Vietnam.