Electronic Commerce (EC) is a relatively new and has been attracting a considerable amount of attention. Even though it is still in an introductory stage, growth rates are impressively high and its economic importance will continue to grow. Electronic Commerce is born to be global because its connectivity using the Internet is universal. As Electronic Commerce accelerates the globalization, it will also increase both the interdependence of national economies in different countries and the need for international cooperation and coordination. Electronic Commerce is really a global challenge that requires global solutions. For this reason, Electronic Commerce becomes an important agenda in major international cooperative organizations including APEC, OECD, and G7 (G8). However, current international discussions on Global Electronic Commerce are initiated mostly by the United States and European Union (EU). The objective of this paper is to raise awareness creation activities in which the international cooperation is needed for promoting the global electronic marketplace in Asia. For this purpose, this paper reviews the approaches of U.S. and European countries (or European Union), and suggests an development framework on the basis of the reviews. The framework is used to analyze current issues around Electronic Commerce, and identify some fields which require coherent work among researchers in different countries.