Central and Eastern European countries (CEECs) are currently undergoing rapid political, economic and social changes. These changes are a result of reform efforts to change centralized planned economies into market-oriented economies. Achievement of successful economic reform and subsequent integration of CEECs into the golbal economy will provide both challenges and opportunities for dynamic Asian economies (DAEs).
The purpose of this paper is to review the economic reforms currently in process in (CEECs) and the present economic relations between CEECs and (DAEs), as well as to discuss the future means of cooperation between the two groups.

Contents

I. INTRODUCTION

II. ECONOMIC REFORMS IN CEECs
II.1. Background of Reforms
II.2. Recent Reform Policies in CEECs
II.3. Economic Situation and Outlook for CEECs

III. TRADE BETWEEN CEECs AND DAEs
III.1. Importance of Trade between CEECs and DAEs in World Trade
III.2. Comparative Advantages and Complementarities
III.3. Trade between CEECs and Korea

IV. ECONOMIC AND INDUSTRIAL COOPERATION
IV.1. Direct Investments
IV.2. Financial Support
IV.3. Other Means of Cooperation

V. CONCLUDING REMARKS

REFERENCES

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