As international system is anarchic it is important to maintain good relationships between states for sustainable peace and to prevent any conflict Following the outbreak of World War I and II which led to tremendous loss of lives and money states realizes the international cooperation as the best way to prevent wars and conflict Thus signing agreement and treaties came to an existence to enhance international cooperation With globalization state is now not the only actor to maintain peace and promote economic growth The responsibility also fall on non state actors such as non governmental organizations and private owned company With their existence the international cooperation sometimes bring great impact in economy to the state as well as to the non state actor itself 3 2 Theoretical Framework International cooperation exists when the involving parties are from different countries to pursue a common interest International cooperation becomes gradually important after the realization of states that cooperation between other parties can benefit more instead of working on itself Thus international agreement treaties and organizations are formed to ensure they are moving towards achieving the same goal or interest Previously nation states are the main actors in international cooperation as they need to maximize their self interest and power to protect themselves in the anarchic international system
The idea is founded on realism whereby the international system is a self help system Since there is no authority ruling the international system nation states should prioritize their own interests and power in order to protect themselves Since the end of Cold War numerous agreements between states had proven to be effective to guide the involving nation states towards the common goals With the shifting landscape due to globalization non state actors such as intergovernmental organizations and non governmental organizations are growing important in the international system Non governmental organizations are primarily focusing more on economic cooperative agreements instead of power Since international cooperation is the main focus of this research paper liberalism seems to be relevant and thus appropriate to be used in this paper Liberalism is a school of thought in International Relations It is founded based on three key principles Firstly liberalism is rejecting power politics as opposed to realism Liberalists believe power politics is not the only possible outcome of International Relations In fact political power is not the only resolution to reduce conflict Secondly liberalists believes in mutual benefits and international cooperation Mutual benefits also indicating the interdependency of the involving parties
The forerunner of EU was ECSC operated from 1952 to 2002 European Union Experiencing the post Cold War period with greatly damage in economy and to protect themselves from the former Soviet Union six neighboring European countries agreed to form a free trade area for key raw materials needed for military and industrial purpose which resulted in the formation of ECSC Wilde 2017 However the signing of the Maastricht Treaty led to the replacement of ECSC by EU After the establishment of EU the single currency system was created Wilde 2017 With the system member states surrendered partial sovereignty to the organization as they had to give up on their own currency The reformation was greatly impacted by the rapid growth of US and Japan's economy Wilde 2017 Thus the single currency system is parallel with the ultimate goal of the organization which is to ensure prosperity and sustainable economic growth of the member states Within the Asia continent one should not forget the existence of ASEAN Although the joining member states are not categorized under the well developed country the international cooperation between them had performed pretty well ASEAN was established in 1967 by five countries through the signing of ASEAN Declaration ASEAN is founded based on a few purposes One of the ultimate goal of ASEAN as being set out in the declaration is to accelerate the economic growth social progress and cultural development in the region through joint endeavours in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of Southeast Asian Nations In order to promote sustainable economic growth ASEAN created the ASEAN Free Trade Area AFTA scheme Under the scheme the member states promised to decrease the intra regional tariff to 0 5 tariff range for more than 99 of products listed in the Common Effective Preferential Tariff CEPT In addition the member states of ASEAN is making a step forward in promoting international cooperation through the ASE
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