Liberalisation of Trade in Services under ASEAN+1 FTAs: A Mapping Exercise

Hikari Ishido

Chapter 6 in East Asian Integration (First Edition), pp 157-194 from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: This paper examines how Association of Southeast Asian Nations (ASEAN)–centred free trade agreements (FTAs) or so-called ASEAN+1 FTAs are correlated amongst themselves and thus have the potential to be merged into one single commitment towards the establishment of a Regional Comprehensive Economic Partnership (RCEP). The ‘Coverage Index’ defined in this paper highlights similarities and differences amongst the ASEAN+1 FTAs, i.e. the Eighth Package of Commitments under the ASEAN Framework Agreement on Services(AFAS–8), the Second Package of Specific Commitments under the ASEAN–China Free Trade Area(ACFTA–2), the ASEAN–Australia–New Zealand Free Trade Agreement (AANZFTA),and the ASEAN–Korea Free Trade Agreement (AKFTA).We found that the degree of liberalisation in terms of the Coverage Index is highest under AFAS–8, which could serve as the focal point for convergence of the ASEAN+1 FTAs, which are positively correlated with AFAS–8. Also, the ASEAN priority integration sectors are making progress (with the exception of transport-related sectors). While the coverage index shows rather low levels of commitment by the member countries, a feasible policy suggestion is to continue prioritising the priority integration sectors including transport-related sectors for a seamless ASEAN Economic Community as well as for a well-connected RCEP.

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