Perspectives of economic integration between ASEAN and Latin America

Abstract

This article provides main economic developments in the trade activities of the ASEAN, MERCOSUR, and Pacific Alliance with its major trading partners and among these regions. The article presents current data, statistics, and trade indicators –top export and import products, export and import diversification, export and import concentration of product markets, complementarity, export similarity, and trade overlap– commonly used in negotiations to support discussions for trade agreements. According to these trade indicators, an ASEAN-Pacific Alliance preferential trade agreement has a better potential for trade expansion than an ASEANMERCOSUR preferential trade agreement. In any case, as the level of trade among the regional areas is small, a possible ASEAN-MERCOSUR and ASEAN-Pacific Alliance Preferential Trade Agreements could be a turning point to increased trade among countries.

Recibido: 20/03/2023 - Aceptado: 15/05/2023