This paper describes the evolution of industrial policy and development in each of the ASEAN countries, indicating also the general thrusts of recent industrial promotion policies in the region. Because trade policies form apart of the major overall policy climate affecting the performance of manufacturing industries, the discussion of industrial policy inevitably includes the incentive effects of foreign trade regimes adopted. The discussion then shifts to the Korean industrialization experience from which some lessons are drawn that could guide ASEAN policymakers. Potential areas for industrial complementarity and trade expansion between the ASEAN countries and the Asian NIC are also examined in the context of increasing protectionism in the industrialized countries.
