The purpose of this article is twofold. First, it reviews the economic performances of the ANIEs during the last two decades and identifies some of their unique characteristics. Second, the article is aevoted to developing a formula in which the ANIEs can be a catalyst for regional economic growth, thereby contributing to narrowing the welfare gap among the three groups. This is one step towards the cooperative modality that Klein (1990) proposes. That is, as an alternative to an export-led growth strategy, developing economies in the region may form a new trading bloc such as a customs union, a currency union, or some more comprehensive form of economic integration.