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

KIEP Research Paper NO. APEC-11-01

58 Pages Posted: 3 Sep 2013 Last revised: 10 Oct 2013

See all articles by Sangkyom Kim

Sangkyom Kim

Korea Institute for International Economic Policy (KIEP)

Innwon Park

Korea University

Soonchan Park

Kongju National University

Date Written: December 30, 2011

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.

Keywords: open regionalism, multilateralism, regional trade agreement, APEC, FTAAP

JEL Classification: F13, F15

Suggested Citation

Kim, Sangkyom and Park, Innwon and Park, Soonchan, Regional Economic Integration in the Asia Pacific Region: Is an FTAPP the Catalyst for One Community? (December 30, 2011). KIEP Research Paper NO. APEC-11-01. Available at SSRN: https://ssrn.com/abstract=2319781 or http://dx.doi.org/10.2139/ssrn.2319781

Sangkyom Kim (Contact Author)

Korea Institute for International Economic Policy (KIEP) ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Innwon Park

Korea University ( email )

Soonchan Park

Kongju National University ( email )

527 Yesan
340-800 Choongnam
Korea

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