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

Sangkyom Kim (), Innwon Park and Soonchan Park ()
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Sangkyom Kim: Korea Institute for International Economic Policy (KIEP)
Soonchan Park: Kongju National University

No 11-1, APEC Study Series from Korea Institute for International Economic Policy

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 (search for similar items in EconPapers)
JEL-codes: F13 F15 (search for similar items in EconPapers)
Pages: 58 pages
Date: 2011-12-30
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepas:2011_001

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