"The concept of Asian economic integration is a logical development as a means of promoting the common prosperity and well-being of the people of Asia," Planning Commission deputy chairman Montek Singh Ahluwalia said addressing a conference, on 'The Future of Asia: Charting a Course for Asian Economic Integration' in Tokyo.

"Regional integration is taking place in Europe and in North America parallel to the steps to achieve multi-lateral liberalisation," he said.

Asian countries have opened their economies to foreign trade and investment and have aggressively integrated with the global economy.

"They have generally done well in this process and Asia has the best record of economic development and poverty reduction compared with any other region. This has given us confidence to think of deeper economic integration among ourselves," he added.

Ahluwalia said Asian countries were diverse politically, "However, commonality of economic interests is also a powerful driver and there are strong economic forces which justify greater integration.

In the case of Asia, unlike Europe, it is possible that economics will lead in the integration process and politics will follow".