Can Open Regionalism Work in the Indian Ocean Rim Association for Regional Co-operation?
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Date
1998
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Abstract
Whether a regional economic co-operation under an "open regionalism" framework brings about expected economic gains cannot be judged from statistics alone. Attractive statistics for intra-regional trade and other trade-related indices such as intra-industry trade can be very deceptive. For the Indian Ocean Rim Association for Regional Co-operation (IOR ARC), the basic fundamentals that are essential for the functioning of open regionalism are not in place. Regional economic co-operation, after all is a dynamic process that requires a firm commitment from member countries. For IOR-ARC, it is argued that this component is also lacking and the sharing of the Indian Ocean waters alone is not adequate to provide a blueprint for effective regional economic co-operation.
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Regional cooperation, Indian Ocean Rim Association