ASEAN meetings herald new era for East Asia's economic integration

The just-concluded series of meetings in Bangkok will go down in the history as a critical milestone for the economic integration of East Asia and broader regional development.

The successful conclusion of the seven years of negotiations on the 16-nation Regional Comprehensive Economic Partnership agreement, which is set to be signed next year, is on its own an historic achievement.

Leveling trade barriers between the 10 ASEAN member countries and Australia, China, India, Japan, New Zealand and the Republic of Korea, the RCEP would emerge as the world's largest trading bloc. One accounting for one-third of global GDP and trade, and covering nearly half the world's population.