Integration in Regional Organizations-A Comparison of EU and ASEAN

This paper will evaluate the prospects of the ASEAN Free Trade Area (AFTA) approaching the level of sophistication of the European Union as a regional economic block. In the first part of this paper a brief overview of the EU and ASEAN history background will be given. It also includes a discussion of the similarities and differences of these two world regions that may have an impact on the viability of economic integrations. The next section deals with the issue of ASEAN's alternative futures: 1) key challenges that need to be addressed; 2) outcomes of alternative futures; 3) benefit for industry, government, stakeholder groups, etc.