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Asia-Latin America Free Trade Agreements: An Instrument for Inter-Regional Liberalization and Integration?

Author

Listed:
  • Wignaraja, Ganeshan

    (Asian Development Bank Institute)

  • Ramizo, Dorothea

    (Asian Development Bank Institute)

  • Burmeister, Luca

    (Asian Development Bank Institute)

Abstract

Trade integration and free trade agreement (FTA)-led cooperation between Asia and Latin America has increased since the early 2000s. Using new criteria, this paper examines whether Asia-Latin America FTAs have facilitated market-led integration by liberalizing trade and behind the border regulatory barriers. Overall Asia-Latin America FTAs provide the foundations for inter-regional integration by liberalizing goods and services trade as well as some regulatory barriers. Future FTAs can support deeper integration by reducing residual regulatory barriers. Other policy priorities include forming a large inter-regional FTA, stimulating business use of FTAs and accelerating structural reforms.

Suggested Citation

  • Wignaraja, Ganeshan & Ramizo, Dorothea & Burmeister, Luca, 2012. "Asia-Latin America Free Trade Agreements: An Instrument for Inter-Regional Liberalization and Integration?," ADBI Working Papers 382, Asian Development Bank Institute.
  • Handle: RePEc:ris:adbiwp:0382
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    References listed on IDEAS

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    1. Jenkins, Rhys & Peters, Enrique Dussel & Moreira, Mauricio Mesquita, 2008. "The Impact of China on Latin America and the Caribbean," World Development, Elsevier, vol. 36(2), pages 235-253, February.
    2. Medalla, Erlinda M. & Balboa, Jenny D., 2010. "Prospects for Regional Cooperation between Latin America and the Caribbean Region and the Asia and Pacific Region: Perspective from East Asia," Discussion Papers DP 2010-12, Philippine Institute for Development Studies.
    3. Robert Scollay & John P. Gilbert, 2001. "New Regional Trading Arrangements in the Asia Pacific?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa63.
    4. Giovanni Facchini & Marcelo Olarreaga & Peri Silva & Gerald Willmann, 2010. "Substitutability and Protectionism: Latin America's Trade Policy and Imports from China and India," World Bank Economic Review, World Bank Group, vol. 24(3), pages 446-473, June.
    5. C. Fred Bergsten, 2007. "Toward a Free Trade Area of the Asia Pacific," Policy Briefs PB07-2, Peterson Institute for International Economics.
    6. Park, Innwon & Park, Soonchan & Kim, Sangkyom, 2010. "A Free Trade Area of the Asia Pacific (FTAAP): Is It Desirable?," MPRA Paper 26680, University Library of Munich, Germany.
    7. Peter A. Petri & Michael G. Plummer & Fan Zhai, 2012. "The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6642.
    8. Berisha-Krasniqi, Valdete & Bouet, Antoine & Estrades, Carmen & Laborde, David, 2011. "Trade and investment in Latin America and Asia: Lessons from the past and potential perspectives from further integration," IFPRI discussion papers 1060, International Food Policy Research Institute (IFPRI).
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    Cited by:

    1. Perez-Restrepo, Camilo & Roldan-Perez, Adriana, 2016. "Is the Pacific Alliance a Potential Pathway to the Free Trade Area of the Asia-Pacific?," Philippine Journal of Development PJD 2014-2015 Vol. 41-42 , Philippine Institute for Development Studies.

    More about this item

    Keywords

    asia; latin america; free trade agreements; inter-regional liberalization; trade integration; market-led integration;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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