Singapore plans Asia economic bloc

Singapore is proposing an Asia-wide bloc similar to the European Union, saying the region must work together to thrive in an increasingly technological world.

Singapore Information Minister Yeo Cheow Tong says Asia should build a model of "regionalism" similar to the European Union's, but not necessarily of the same "brand".

Asian leaders have often said that their idea of regionalism is purely economic, unlike Europe's which includes political and human rights issues. Yet even economic integration in Asia isn't nearly as advanced as Europe's, with much work still do be done before free-trade zones are created.

Mr Yeo says it is "crucial" for Asia to create a similar regional marketplace.

Despite Asia's "distinct and segregated countries," Mr Yeo argues the region's nations face "similar, serious problems, which increasingly cannot be solved internally". He says wealthier nations in Asia should share their knowledge with developing nations to keep them from falling behind.

He added: "After all, why reinvent the wheel a hundred times over?"

Mr Yeo says an Asian union will help the region better face the challenges and opportunities presented by globalisation. He says Asian countries need to help each other to narrow the digital divide and to stop talented Asians from heading to the West.