Regional cooperation and integration in support of a sustainable development-

The designation employed and the presentation of the material in the Working Paper do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. [...] 3 Abstract International trade and foreign investment have been key engines of growth and development in Asia and the Pacific, and the role of trade in contributing to sustainable development is well recognized in the 2030 Agenda. [...] Section A introduces the background and current challenges of the MTS, Section B provides a general overview of regional integration in Asia and the Pacific, while Sections C and D review, respectively, the states of play in regional trade integration and in regional investment cooperation and integration. [...] In spite of this, Asia and the Pacific continues to be the largest contributor to the number of preferential trade agreements (PTAs) globally, and the region has experienced important developments in trade integration in recent years, such as the deepening of trade agreements, the conclusion of mega-trade deals and ongoing integration work in settings such as ASEAN and the Asia-Pacific Economic Co. [...] The pandemic has demonstrated the essential role of digital technologies67 in the provision of essential goods and services when physical trade channels are hampered, in doing business both at home and across borders, and for the economic and trade recovery.68 The potential of digital trade to support inclusiveness has been widely recognized.