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The importance of development that provides for equitable economic growth and the sustainable use of natural resources has become increasingly apparent during the coronavirus disease (COVID-19) pandemic. COVID-19 has emphasized the need for a renewed focus on achieving the 17 Sustainable Development Goals (SDGs) as the global blueprint to ending poverty, protecting our planet, and ensuring prosperity. This publication provides an overview of SDG bonds as a mechanism to help mobilize the huge amount of financing required to meet the SDGs in developing Asia. It also proposes a new type of SDG bond that could contribute to accelerating sustainable development in the region.

This paper aims to investigate the effect of non-tariff measures (NTMs) on trade in selected East Asian countries. In doing so, we first estimate the ad valorem equivalent (AVE) of NTMs and construct an augmented trade restrictiveness index (ATRI) by measuring the overall external regulations imposed by importing countries. Second, we analyse the effect of the AVE and trade restrictiveness index (TRI) of importing nations on the exports of various sub-sector products for each country in selected East Asian countries. Based on a standard gravity model framework, we perform a Poisson pseudo maximum likelihood (PPML) regression at the sectoral level (Harmonized System 2-digit) for total exports and major sub-sectors (agri-food, health, logistics, and manufacturing). The findings show that the ATRI has a negative and significant relationship towards bilateral exports for total exports, manufacturing, and logistics sub-sectors. The negative impacts of the ATRI also highlight that trade barriers play a significant role in bilateral exports. NTM restrictions (proxied by the calculated AVE of NTMs) imposed by importing countries have mixed results for technical and non-technical measures. Where technical measures have negative and significant impacts on bilateral exports for total exports, manufacturing, and health sub-sectors. This implies that implementation of technical NTMs such as sanitary and phytosanitary (SPS) and technical barrier to trade (TBT) measures in importing nations adversely affect bilateral exports for these sub-sectors. This is in line with our hypothesis, as exporters may face difficulties in meeting the current NTM specifications, leading to lower bilateral exports. In addition, the results show that most trade agreements have a positive and significant relationship with ASEAN and East Asia countries' bilateral exports, suggesting that free trade agreements enhance trade between countries.

The Economic Research Institute for ASEAN and East Asia (ERIA) implemented the Association of Southeast Asian Nations (ASEAN) portion of the project, Joint Study on 10+3 Cooperation for Improvement of Supply Chain Connectivity. The objective of ERIA's study was to provide insights on the operation and resilience of supply chains in the region in the face of uncertainties, such as the coronavirus disease (COVID-19), from the viewpoint of ASEAN. The ERIA team gathered the latest information on the impact of COVID-19 in ASEAN, interviewed company executives, and held focus group discussions with experts. We collected data from Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam, and held focus group discussions in Indonesia, Malaysia, and Viet Nam. Country-based consultants implemented the study, adhering to the prescribed methodology, and submitted country reports. The ERIA team then analysed the results of individual country studies and developed insights for ASEAN. The result of the analysis and the policy recommendations for an exit strategy are in this report.

Regional cooperation and integration (RCI) is pivotal to enhancing economic growth, financial stability, and social inclusion and important for tackling poverty and enhancing institutional stability. Better RCI measures can allow researchers and policy makers to assess the costs and benefits of RCI policies in greater detail. This publication presents highlights of the sessions during the Asian Development Bank's workshop on regional cooperation and integration held on 16 and 17 April 2020. The workshop gathered academics, policy makers, and regional and international organizations to discuss relevant approaches to measuring RCI and its implications for policy assessment.

This book reviews progress with regional cooperation and integration in Asia and the Pacific and explores how it can be reshaped to achieve a more resilient, sustainable, and inclusive future. Consisting of papers contributed by renowned scholars and Asian Development Bank staff, the book covers four major areas: public goods, trade and investment, financial cooperation, and regional health cooperation. The book emphasizes how the region can better leverage regional integration to realize its vast potential as well as overcome challenges such as the coronavirus disease (COVID-19) pandemic.

In this paper, I suggest that text mining analysis of regional trade agreements (RTAs) can be a suitable methodology to develop a tangible measure of convergence between RTAs. By utilizing well-established text similarity concepts in related literatures, I attempt to investigate how much RTAs in APEC are converging in terms of how much similar RTA texts are. Furthermore, which areas of RTA converge more or less will be examined. The main results of the study are as follows. The RTAs signed by APEC members are gradually converging over time, and they converged (in terms of 5-gram Jaccard similarity) at an annual average of 8% for all RTAs (both inter- and intra-regional) while 9.7% for intra-regional RTAs only. The areas that converged the most are service and transparency chapters, which show 2.2 times and 1.6 times higher level of convergence than the average, respectively. The objective and intuitive indicators of regional norm convergence are expected to provide a common understanding for setting goals and strategies for regional economic integration in the future.

The unfolding competition between a more aggressive, unilateralist China and a more unpredictable, unilateralist USA heralds the end of the benign post-Cold War order that benefited Southeast Asia and ASEAN.1 As the new strategic disorder sets in, ASEAN's balancing act and aspirations for centrality – both within its diverse membership and in relations with the two great powers – have become more difficult and tenuous. COVID-19, by laying bare the ever-widening chasm between the two superpowers, has heightened fears that ASEAN member states will become more disunited and ASEAN and its broader ASEAN+ groupings will be paralysed.

China has faced enormous problems getting projects off the ground in the countries that need the investment most. Negotiating the interest rate that a country will pay for a loan from a Chinese bank and/or how large a local government or company will take on is often the subject of years of negotiations. Forced or poorly compensated relocation of farmers to make way for a project has prompted endless protests and complaints and has driven many into poverty. The lack of concern by Chinese contractors about environmental damage caused by a project has resulted in governments abandoning some projects. Land acquisition particularly in more democratic countries has prompted some farmers to refuse to move. Corruption and hefty kickbacks have dented Beijing's image and caused delays.

The Lowy Institute hosted the seventh Australia–Papua New Guinea Emerging Leaders Dialogue on 5 and 6 November 2019 in Wewak, Papua New Guinea. The Dialogue is the flagship annual event of the Australia–Papua New Guinea Network, a project of the Lowy Institute to build stronger connections between Australia and Papua New Guinea. The project is supported by the Australian Department of Foreign Affairs and Trade. The Dialogue reflects the importance of the Australia–PNG relationship. It brings together 20 emerging leaders from both countries to discuss common challenges and issues and to form new professional connections. The 2019 Dialogue was the first time the event was held in a regional centre in Papua New Guinea. Wewak and East Sepik Province illustrate many of the challenges and opportunities facing regional centres in Papua New Guinea. The region is home to a thriving agricultural industry, and has close links to Australia through the Defence Cooperation Program (DCP) between the PNG Defence Force and Australian Defence Force at Moem Barracks. Australia and Wewak are also linked via business, government and community connections.

This policy brief analyses the share of India's trade with its neighbours. The data used is from World Bank's World Integrated Trade Solution (WITS) database and the International Monetary Fund's (IMF) Direction of Trade Statistics (DOTS) database. All trade values are in United States dollars (US$). For India's trade with South Asia, the import and export volumes and shares analysed are from 1988 to 2018; the figures for only 5.6% (2017).4 Enhancing intra-regional trade is necessary to increase connectivity in the South Asian region. Facilitated by the flow of goods, services, people, and knowledge, such an initiative would provide access to new markets as well as attract foreign direct investment (FDI) in diverse sectors. The ensuing economic growth would also play a key role in bridging the trust deficit in the region and raise the opportunity cost of conflict.5 This policy brief maps the trends in India's trade with its neighbours to ascertain the current status of trade connectivity. A comparison with China has also been made considering its increasing presence in India's neighbourhood since 2005. Based on the analysis, the brief concludes with policy recommendations to foster better intra-regional trade.

This Friday, Vietnam hosts the first-ever virtual annual ASEAN Summit. The COVID-19 pandemic, territorial disputes with China in the South China Sea, and the US-China trade tensions have severely tested Vietnam's stewardship of the regional grouping. Adapting well to the challenges, Hanoi is living up to its chairmanship theme of cohesive and responsive ASEAN. Hanoi's ties with Singapore are also on a positive trajectory, strengthening ASEAN cooperation and progress.

The Belt and Road Initiative, and the Free and Open Indo-Pacific, have new dimensions and new players. But how are these concepts unfolding, and will they move past existing pitfalls?

Do ASEAN people identify themselves first as Southeast Asians, as nationals of their country, or as members of their ethnic or local community? In a heterogeneous region where each country is culturally distinct and each holds on to its hard-earned sovereignty, how does the process of regional community-building fare? As ASEAN declares 2020 as the Year of ASEAN Identity, it is timely to reexamine its regional identity and its implications for creating an ASEAN Community.

The United Nations adopted the 2030 Agenda for Sustainable Development in 2015 and presented 17 goals and 169 detailed targets to eradicate poverty and achieve sustainable development by 2030. Accordingly, as a member of the United Nations, North Korea also established a new strategic framework for cooperation with the United Nations in 2016 to implement the Sustainable Development Goals (SDGs). This UN Strategic Framework (UNSF) has covered the period 2017-2021 and was cosigned by the UN Country Team (UNCT) led by the Resident Coordinator in DPR Korea. Major UN agencies, including FAO, UNFPA, UNICEF, WFP and WHO, are participating in the UNSF Steering Committee, which currently serves as a representative of UN agencies residing in Pyongyang, and under consultation with the Ministry of Foreign Affairs of North Korea it has set up Thematic Groups (TGs) and Sectoral Working Groups (SWGs) by detailed issues to coordinate bilateral and multilateral cooperation projects.

Regional cooperation and integration. Regional cooperation and integration (RCI) is a process in which a group of countries actively cooperate to achieve common goals for mutual benefit. This facilitates market-driven regional integration and the production of regional public goods. RCI can encompass different elements, such as promoting and agreeing on trade and investment; developing cross-border infrastructure; deepening regional financial markets; and spurring the cooperation of financial intermediaries, climate change mitigation and adaptation policies, and the harmonization and alignment of sector- and theme-based policies and regulations. RCI has become a valued development strategy; the United Nations recognizes it as an important tool to implement the 2030 Agenda for Sustainable Development.