"An East Asian Union with India in it, needs to be formed.

The concept of an East Asian Union is of a common market which has minimal border restrictions and near zero tariff on Intra-Union Trade", Swamy said.

The East Asian Union could be backed with a consultative body that may be called East Asia Parliament of elected members from each constituting nation of the Union, he said.

Stating that the country needs "A Look East Policy' as suggested by former Prime Minister Narasimha Rao in 1992, he said "in terms of economic development, we need this policy to foster a common market with ASEAN plus China, Japan and South Korea, co-opt Australia and New Zealand".

The US may also be included as a 'dialogue partner' since each of the Nations of this grouping looks to the US for trade, technology and innovations, he said.

He was speaking at a seminar on "21st Century Asia: Emerging Symbiotic Relations among India, Japan, China and South Korea" organised by Indo-Japan Chamber of Commerce and Industry here.. - Agencies

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