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Regional Economic Integration in the Asia Pacific Region: Is an FTAPP the Catalyst for One Community?

Author

Listed:
  • Kim , Sangkyom

    (Korea Institute for International Economic Policy (KIEP))

  • Park , Innwon

    (Korea University)

  • Park , Soonchan

    (Kongju National University)

Abstract

In order to argue that the proposed FTAAP is the second-best policy option for APEC member economies and the world economy com-pared to the stalled first-best multilateral liberalization effort like the DDA (Doha Development Agenda), we examine existing arguments for and against the proposed FTAAP. From our examinations, we find that the FTAAP is a sustainable RTA (Regional Trade Agreement) and will work as a stepping stone towards global free trade. In addition, the FTAAP will be a more desirable RTA if it is cooperated with the APEC's principle of open regionalism or/and evolves to a customs union of the region. However, unlike traditional FTAs, the FTAAP has some APEC-specific impediments to its establishment of a regional trade bloc at present. Some policy recommendations would be proposed to overcome the obstacles.

Suggested Citation

  • Kim , Sangkyom & Park , Innwon & Park , Soonchan, 2011. "Regional Economic Integration in the Asia Pacific Region: Is an FTAPP the Catalyst for One Community?," APEC Study Series 11-1, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepas:2011_001
    DOI: 10.2139/ssrn.2319781
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    More about this item

    Keywords

    Open Regionalism; Multilateralism; Regional Trade Agreement; APEC; FTAAP;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration

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