Trade Facilitation: Developments and the Way Forward for ASEAN and China
Posted: 28 Jan 2013
Date Written: October 19, 2012
Abstract
Trade facilitation is important based on the rationale that all of the processes of international transaction need to go through regulated procedures. Efficient management and implementation of these procedures are thus essential and can serve as one of the channels to enhance a country’s competitive edge in international trade. This paper reviews the development of cooperation and performance in trade facilitation for ASEAN and China and provides policy recommendations. Trade facilitation cooperation is important as ASEAN and China are in the process to enhance regional trade flows through cooperation under the Framework Agreement of ASEAN-China Free Trade Area (ACFTA). Since tariffs have been reduced in the framework agreement, we suggest the incorporation of the negotiation on trade facilitation into ACFTA, as an alternative scheme that will reduce trade transaction costs and increase trade flows. For this purpose, ASEAN and China need to come up with a comprehensive mechanism for cooperation on trade facilitation. It can be implemented through negotiations to achieve an agreeable definition of trade facilitation and its coverage, as well as clear measures for implementation and timeliness conforming to the WTO provisions.
Keywords: trade facilitation, China, ASEAN, ACFTA, international trade
JEL Classification: F13, F15, F53, F55
Suggested Citation: Suggested Citation
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