In February 1976 during the First ASEAN Summit in Bali, economic cooperation, not economic integration, moved onto the ASEAN agenda. The Declaration of ASEAN Concord called for economic cooperative action by member states, aiming at the promotion of their national and regional development programs, by utilizing as far as possible the resources available in the ASEAN region to broaden the complementarity of their respective economies, while hoping that regional cooperation in large-scale industries in critical sectors could spur economic development via industrialization.