Deeper integration for Asia-Pacific region urged

High-speed electric multiple unit trains for the Jakarta-Bandung High-Speed Railway stop at Halim Station in Jakarta, Indonesia, Oct 2, 2023. Deeper regional integration — especially in terms of trade, investment and migration — has been the key driver of growth in the Asia-Pacific region for the past 20 years, but such gains are being threatened by geopolitical tensions that constrain global trade, according to a report of the Asian Development Bank. The Asian Economic Integration Report 2025, published on Monday, said that the degree of trade integration in Asia is comparable to that of the European Union plus the United Kingdom. While financial integration has lagged, regional integration in foreign direct investment has advanced significantly, while that of "movement of people" — which covers migration, remittances and tourism — has remained steady, The report said. Albert Park, the bank's chief economist, said the advances in regional economic integration also "reflect the fact that we have many governments that maintain a very pragmatic economic management outlook, trying to find benefits from staying open and working with other countries in the region".