Trade liberalization and its eff ect on foreign trade of APEC countries (towards 30 years îf APEC’s foundation)

Galina Mikhailovna Kostyunina
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Galina Mikhailovna Kostyunina: Moscow State Institute of International Relations (University) MFA Russia, Moscow, Russia

Russian Foreign Economic Journal, 2019, issue 6, 19-32

Abstract: The article analyzes the activities of the Asia-Pacific Economic Cooperation Forum in terms of the formation of a free trade zone based on the evolution from the Bogor goals to the Free trade area for Asia-Pacific (FTAAP). Completion of the goal of creation a free trade zone is scheduled for 2020. The results of trade liberalization and trade facilitation are described, including a reduction in average rates of customs duties, harmonization and elimination of certain types of non-tariff restrictions, reduction of transaction costs, simplification of administrative formalities. Trade liberalization stimulated the growth of foreign trade of APEC states, including intraregional ones, which increased its share from 57.9% to 69.5% during 1990-2017, as well as faster growth rates of foreign trade of the APEC countries compared with the growth dynamics of international trade.

Keywords: APEC; Bogor goals; FTAAP; trade liberalization; trade facilitation; foreign trade. (search for similar items in EconPapers)
Date: 2019
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