This paper has presented the initiatives that ASEAN has undertaken towards regional integration. The multi-track system consisting of the trade track and monetary and finance track appears to be working well. Significant progress has been made with the creation of AFTA, the first major step of ASEAN en route to economic integration. The remaining challenges would be to determine the exact form that the ASEAN Economic Community will take and to address the “noodle bowl’’ effects associated with the increasing number of FTAs negotiated. Since FTAs impose strict rules of origin and other conditions that increase administrative costs, it is important that FTAs should be carefully reviewed to ensure compatibility with other FTAs. The monetary and finance track requires stronger regional surveillance. ASEAN has identified two tools-the ACPMS and AEC Scorecard-to measure how far or how close it is towards the ASEAN 2020 vision. These tools have so fat not been finalized. However, the biggest challenge is not in completing these monitoring tools but in ensuring the commitment of the member countries to move the process forward. This requires the openness and willingness of ASEAN and the political will of its leaders to see through the attainment of of ifs objectives.