Asian Economic Integration Report 2022: Advancing Digital Services Trade in Asia and the Pacific

Asia and the Pacific can capitalize on growing digital services opportunities through structural reforms and international cooperation. The region has experienced pandemic hardships, positive integration trends, and greater confidence in regional cooperation to address shared concerns.

Format: Paperback / softback
Length: 300 pages
Publication date: 30 June 2022
Publisher: Asian Development Bank

The report explores how Asia and the Pacific can capitalize on growing opportunities in digital services through structural reforms and international cooperation.

Another year into the coronavirus disease (COVID-19) pandemic, the report describes an Asia and Pacific region that has more experience in tackling pandemic hardships, better data showing positive integration trends, and greater confidence in regional cooperation to address shared concerns. The publication gives an overview of changes in trade and global value chains, cross-border investment, financial integration, and the movement of people since the pandemic began.

The report highlights the importance of digital services in driving economic growth and job creation in the region. It notes that the COVID-19 pandemic has accelerated the adoption of digital technologies, with many businesses and individuals turning to online platforms to conduct their activities. The report suggests that Asia and the Pacific can leverage this trend by investing in infrastructure, developing digital skills, and promoting innovation.

Structural reforms are also crucial in enabling the region to capitalize on digital services. The report identifies several areas where reforms can be implemented, such as improving access to broadband internet, reducing regulatory barriers to cross-border trade, and promoting investment in digital technologies. International cooperation is also important in facilitating the region's digital transformation. The report highlights the role of regional organizations such as the Asia-Pacific Economic Cooperation (APEC) and the Association of Southeast Asian Nations (ASEAN) in promoting digital services and fostering regional integration.

The report also discusses the challenges that Asia and the Pacific face in capitalizing on digital services. One of the main challenges is the lack of infrastructure and digital skills in many countries in the region. This can limit the ability of businesses and individuals to access and use digital services, which can hinder their growth and competitiveness. Another challenge is the prevalence of cyber threats and security risks, which can pose a significant threat to the region's digital infrastructure and economic activities.

To address these challenges, the report suggests that governments, businesses, and international organizations work together to promote digital services and infrastructure development. This can include investments in broadband infrastructure, training programs for digital skills, and cybersecurity measures to protect against cyber threats. The report also emphasizes the importance of promoting inclusive growth and social development in the region, as digital services can contribute to reducing inequality and improving the quality of life for many people.

In conclusion, the report explores how Asia and the Pacific can capitalize on growing opportunities in digital services through structural reforms and international cooperation. The COVID-19 pandemic has accelerated the adoption of digital technologies, and the region has the potential to become a global leader in digital services. However, there are challenges that need to be addressed to fully leverage this opportunity. By working together, governments, businesses, and international organizations can promote digital services and infrastructure development, and foster inclusive growth and social development in the region.

Dimension: 280 x 216 (mm)
ISBN-13: 9789292693619