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15 January 2013 Dear Mr. Secretary-General, Later this year, you will be nominating to the General Assembly your choice of the next Secretary-General of UNCTAD. The personal attributes of the chief executive of an international organisation are key factors affecting its performance and credibility. Thus the selection is crucial and for that, UNCTAD is no exception, especially at this time of global economic uncertainty. Research Paper 46, July 2012 Whilst the first steps towards Asian trade cooperation stated in 1970s, it was the Asian Financial Crisis of 1997 that triggered Asian efforts at monetary and financial integration. This paper argues that the conditions for Asian monetary integration are not conducive but that efforts at monetary cooperation should proceed at three fronts – exchange rate cooperation, coordination of capital flows control, and strengthening of regional financial liquidity management as in the Chiang Mai Initiative and regional surveillance. This South Centre Analytical Note provides a background and discussion on the history of the Mercado Común del Sur – Mercosur’s regional economic and political cooperation and the insights it can provide to developing countries seeking to build greater integration in their region. Analysis focuses on the evolution of the integration process, overcoming certain challenges and enhancing political cooperation in South America. |