Taking ASEAN+1 FTAs towards the RCEP: A Mapping Study
In November 2012, the leaders of the ASEAN+6 countries agreed to launch a new FTA negotiation called the "Regional Comprehensive Economic Partnership" (RCEP). In this paper, we conduct stocktaking studies of ASEAN's own FTA and five existing FTAs with 6 dialogue partner countries, to identify the possible benefits and challenges of RCEP. We find that the five "ASEAN+1 FTAs" provide an insufficient level of liberalization, both in tariffs and services trade. The coexistence of five FTAs with different rules of origin (ROOs) creates a potential "noodle-bowl" situation which impedes the effective use of the FTAs. Also, the China-Japan-Korea FTA and the Trans-Pacific Partnership (TPP) pose challenges to the "ASEAN Centrality". We recommend that RCEP negotiation should address those challenges by (a) concluding a comprehensive and high-level RCEP by 2015; (b) setting the target of 95% percent tariff elimination with a "common concession" approach; (c) introducing the "core non-tariff measures (NTMs)" concept and removing them; (d) allowing co-equal rules in the ROOs, setting a general rule of "RVC(40) or CTH" and developing consolidated operational certification procedures; (e) introducing concrete and tangible trade facilitation programs and addressing FTA utilization issues; and (f) liberalizing trade in services at a high level.
|Date of creation:||22 Jan 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.eria.org/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Yoshifumi Fukunaga & Arata Kuno, 2012. "Toward a Consolidated Preferential Tariff Structure in East Asia: Going beyond ASEAN+1 FTAs," Working Papers PB-2012-03, Economic Research Institute for ASEAN and East Asia (ERIA).
- Hikari Ishido & Yoshifumi Fukunaga, 2012. "Liberalization of Trade in Services: Toward a Harmonized ASEAN++ FTA," Working Papers PB-2012-02, Economic Research Institute for ASEAN and East Asia (ERIA).
When requesting a correction, please mention this item's handle: RePEc:era:wpaper:dp-2013-02. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hiroshi Okasaki)The email address of this maintainer does not seem to be valid anymore. Please ask Hiroshi Okasaki to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.