The Asia-Pacific Economic Cooperation forum’s reported move to launch discussions on the creation of a Free Trade Area of the Asia-Pacific region (FTAAP) reflects Washington’s wariness of an initiative for East Asia’s economic integration centering around the Association of Southeast Asian Nations.
The United States has sounded out its Asian and Pacific partners on the possibility of creating a regional free trade agreement as a ‘middle- and long-term’ objective, a press report said on Sunday.
US President George W. Bush is expected to push for a plan to improve the patchwork of free trade initiatives in the Asia-Pacific region at the annual APEC summit in Vietnam next month.
FTAs are supposedly meant to substitute for lack of progress at the WTO. In practice they are mostly preferential arrangements that run counter to APEC’s principle of "open regionalism," which allows members to pursue liberalization at their own pace but on a nondiscriminatory basis.
The indefinite suspension of the Doha round of world trade talks creates big risks for the world economy. A new explosion of discriminatory bilateral and regional agreements is likely to substitute for global liberalisation, eroding the multilateral rules-based system of the World Trade Organisation.
The proliferation of regional and bilateral free trade agreements in the Asia-Pacific, coupled with the failure of global trade talks, is driving up transaction costs for business despite the decrease in tariffs.
The ongoing APEC senior official meeting (SOM II) will discuss Sunday existing and new policies for regional trading agreements and free trade agreements (RTA/FTA), reports from the APEC secretariat said.
A large set of strategic economic and security questions will challenge both US and Chinese leaders over the next decade. These relate directly to the growth of Asian regionalism, with attendant political institutions, decisions regarding new regional trade and investment agreements, as well as a potential new security architecture for at least East and South Asia.
Speech by Rt Honorable Helen Clark of the New Zealabd government
As world leaders gathered Friday for their annual talks on building a free trade zone that circles the Pacific, they were also spending time in sideline huddles forging one-on-one agreements.
About 2,000 farmers and farm activists and 3,000 union workers took to the streets of Pusan to denounce APEC, the World Trade Organisation and US President George W Bush, who was attending the leaders’ meeting.
Criticised by business leaders and alarmed by the possible failure of next month’s world trade talks in Hong Kong, Asia-Pacific governments are acknowledging for the first time the dangers of the tangled "spaghetti bowl" of bilateral trade deals they have spawned in the past few years.
Noting that a "spaghetti bowl of rules" would result from multiple bilateral free trade agreements among APEC members, Minister of Trade Phil Goff has called for coherence between FTAs in the region.
Economies in the Asia-Pacific region need to establish standard FTA (free trade agreements) guidelines as FTAs between the countries have no fundamental rules or principles, the APEC CEO Summit chairman said Wednesday.
China and Chile launched the fifth round of talks towards a Free Trade Agreement (FTA) yesterday in Beijing, and hopes to be the last round of negotiations for a formal agreement.
Indonesia’s trade minister expressed caution Tuesday on the formation of free trade agreements (FTAs) within the Asia Pacific region.
Korean President Roh Moo-hyun Tuesday stressed the need for Asian and Pacific Rim countries to pursue economic integration like that of the European Union (EU) and the North American Free Trade Agreement (NAFTA). He said it would be more effective on a long-term basis to build a regional economic bloc, rather than to continue signing bilateral free trade agreements (FTAs).
This IMF working paper of July 2005 describes the proliferation of PTAs in the Asia-Pacific region, discusses their
characteristics and implementation, and assesses their potential effects.
This conference provides a useful opportunity to reflect on the present and possible future role of APEC (Asia Pacific Economic Cooperation). In recent years, veteran APEC-watchers have rather complacently dismissed the grouping as irrelevant. But we may have under-estimated its contribution to the new matrix of economic alliances that are emerging within the region.
APEC Trade Ministers have agreed to develop possible model measures on trade facilitation for Free Trade Agreements (FTAs) and Regional Trading Agreements (RTAs) for endorsement by APEC Leaders in November.