There is no denying the fact that a few decades in the past, the theory of regional teamwork approached as a wield in the different parts of the world. Quite a lot of regional organisations were formed in different region. After the creation of the European community in 1958; regional cooperation burgeoned in East Asia, Africa and Latin America. Although there was towering anticipation among the developing countries but regionalism did not prosper outside Europe. Notwithstanding that, regionalism again being focused as a way of elucidation of their economic exertion. Today concept of regional cooperation is like chalk and cheese than that of thirty years ago.
Throughout the cold war even though regionalism was wide-ranging agenda but its scope was constrained. Due to the fact, all regional schedules at that time were secondary to bipolarisation. End of cold war or collapses of old bipolarisation bequeath regionalism a new momentum. In new state of affairs regional organisations are regarded as an imperative helping hand of the United Nations. For regional problem solving UN growing dependence on regional organisation gave regionalisms a new force. For many developing countries economic marginalization after the end of bloc politics became a major threat. For becoming self reliant developing countries gave more emphasis on regional cooperation. The success of the European Community and their different new type of plans encouraged others to rethink their policies towards economic regional cooperation and as such signing of North American Free Trade Agreement (NAFTA) influenced some countries to reassess the possible gain from regional cooperation. The developing countries are also creating free trade area and trying to include developed partner into their free trade arrangements.
Suffice it to say that in old regional cooperation primary motive in the developing countries were industrialization through import substitution. Regional protectionism for example erection of trade barriers were the instrument. Now trade liberalization i.e. removal of trade barrier has become the main policy in their regional cooperation. In old regional cooperation inward looking strategies were the high priority but now in new regionalism is out ward looking for example export promotion, currency devaluation, economic growth and ultimately global competition is the main goal of new regional cooperation. In the 60s United States was the defender of multilateralism and opponent of regionalism. Now it has become an active partner of regional cooperation. At that time regionalism was viewed as a threat to multilateralism. On the other hand now it has become the helping hand of multilateralism. The old regional cooperation was homogeneous partners based. For example regional cooperation was South-South and North-North based on ASEAN and European Union. Now North-South regional cooperation is visible and it is a new dimension. United States, Canada and Mexico has created largest trading bloc in the world economy. This North American Free Trade Agreement (NAFTA) was signed in 1992. Here Mexico is Southern country. Greater diversity among the partners is new dimension in regional cooperation which was not present in old regional cooperation. A European Union relation with East European countries and with Turkey is also new. Another dimension is inclusion of Vietnam in the ASEAN, which is a communist country.
It is a significant fact that the agreement provisions are among the regional countries of Asian and Europe are new-fangled in the present regional cooperation. In NAFTA treaty the provision of rules of business classed as a new type of protectionism, difference of opinion settlement, academic property rights and environmental fortification and sustainable development clauses are new. Old regional cooperation arrangement are often formed in response to common external threat or based on political factor. Political ideology played prominent role for the creation of most of those regional cooperation. On the other hand new regional cooperation is a multi dimensional, trade and economic issues are prominent here. For example communist threat was the important reason for the creation of ASEAN. Now the policy of this regional organisation has changed . Trade and economic aspects gaining priority in their relations. The Soviet threat played important role in the formation of European Community. The new regional cooperation is spontaneous which is market and consumer driven. On the other hand the old type of regional cooperation was imposed from above or bureaucracy driven and was therefore more limited. The free trade concept is an important issue in comparison to old regional cooperation arrangement. For example beyond simple trade liberalization of trade in services, liberalization in movement of capital and labour, investment, technical and regulatory standards, customs formalities etc. are new. These policies are now followed by most of the regional organisations. The EU and the NAFTA has these provisions. The new regionalisms putting the nation- state system under strain. In the old regionalism the nation- state was the main actor of regional cooperation. In the European Union much of the state’s responsibilities are presently being done by this regional body. The EU is therefore now focusing a common monetary policy, common social policy and common foreign and security policies. Intra-regional South- South trade has increased much in the new regional cooperation than under the old regional one.
In view of the above strategic phenomenal aspects, it is clear from this paper that the changes in the concept of regional cooperation have based to a high degree on the changes in international politics. As we discern that after Second World War power politics subjugated the international system. For that reason regional cooperation arrangements were mostly political and safekeeping based. After the cold war, even though political and security question remains there as always, economic and trade aspects have become the main focus in the new mutual aid.
