New PDF release: New Free Trade Agreements in the Asia-Pacific: Towards

New PDF release: New Free Trade Agreements in the Asia-Pacific: Towards

By Christopher M. Dent

The fresh proliferation of unfastened alternate agreements (FTAs) within the Asia-Pacific is arguably crucial improvement within the region's overseas exchange agreements lately. This publication provides a accomplished learn of the most factors, results and nature of the Asia-Pacific's new FTA development, in addition to its implications for the worldwide economic system. It explores the FTA rules of the region's exchange powers and gives new conceptual and theoretical views at the courting among financial bilateralism and regionalism, specifically no matter if intensifying FTA bilateralism could lead on to the advance of 'lattice regionalism' within the Asia-Pacific.

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Additional info for New Free Trade Agreements in the Asia-Pacific: Towards Lattice Regionalism?

Sample text

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.

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