By Christopher M. Dent
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Additional info for New Free Trade Agreements in the Asia-Pacific: Towards Lattice Regionalism?
Central and South Asia includes the Russia and Asian ex-Soviet republics, as well as the Commonwealth of Independent States FTA. Europe includes the ex-Soviet republics of Belarus, Moldova and Ukraine. 3. Figures include customs unions. By this time, Europe was host to four customs union agreements (European Union, EU–Malta, EU–Cyprus and EU–Andorra) and the EU also had a customs union with Turkey. Similarly, the Western Hemisphere region was host to four customs unions (CAN, CACM, CARICOM and Mercosur), Central Asia to one (EAEC), and Sub-Saharan Africa to one (SACU).
Promoting deeper economic integration in areas than is presently available through the WTO: for example in trade and investment, competition Free Trade Agreements in the Asia-Paciﬁc 27 policy, environment, services trade, and therefore applies to ‘broad band’ FTAs. • Promoting deeper regional integration between countries: in Europe, bilateral and sub-regional FTAs have been precursors to candidate member states’ accession to the EU as (see Europe section below). e. lattice regionalism. • Attracting inward FDI: this is often a primary objective amongst developing countries engaged in FTA activity, both bilaterally and regionally.
E. the simultaneous import and export of goods from the same industries) within the FTA, the wider the scope for trade creation opportunities. Put alternatively, if FTA members possess comparative industrial proﬁles, this fosters a more intensiﬁed engagement of competitive free trade between producers and buyers located in the FTA countries. On the other hand, contrasting industrial proﬁles associated with a pattern of inter-industry trade narrows the scope for potential trade creation. Taking the South Korea–Chile FTA as an example, there is arguably little scope for trade creation from the agreement as the two countries only really compete in textiles, while seasonal differences between the two countries make for limited trade competitioninduced efﬁciency gains in agri-sectors.