Framework agreement

Abstract: At the ASEAN Summit in November 2000, the leaders of ASEAN and China agreed to enhance economic cooperation and integration with the goal of establishing an ASEAN-China Free Trade Area (FTA). This decision was a natural response to a number of important global and regional developments of the past decade. Since the signing of the framework agreement, policymakers from China and ASEAN member states have already started their negotiations on the specific terms and features for this proposed FTA. While such an FTA would hold the potential of yielding enormous economic benefits, it also causes some sense of apprehension and uncertainty in some quarters, due to the common perception that China is already a strong competitor in trade and attracting foreign investment. To examine the economic basis for such concern, this paper analyses the economic implications of this proposed free trade area from the ASEAN economies' perspective. Specifically, it examines how competitive ASEAN countries are vis-a-vis China, evaluate the scope for strengthening China-ASEAN trade and the impediments facing Chinese and ASEAN investors in each other's markets, and recommends policy measures to maximise the benefits and minimise the hardships resulting from an ASEAN-China FTA.

Abstract: At the ASEAN Summit in November 2000, the leaders of ASEAN and China agreed to enhance economic cooperation and integration with the goal of establishing an ASEAN-China Free Trade Area (FTA). This decision was a natural response to a number of important global and regional developments of the past decade. Since the signing of the framework agreement, policymakers from China and ASEAN member states have already started their negotiations on the specific terms and features for this proposed FTA. While such an FTA would hold the potential of yielding enormous economic benefits, it also causes some sense of apprehension and uncertainty in some quarters, due to the common perception that China is already a strong competitor in trade and attracting foreign investment. To examine the economic basis for such concern, this paper analyses the economic implications of this proposed free trade area from the ASEAN economies’ perspective. Specifically, it examines how competitive ASEAN countries are vis-a-vis China, evaluate the scope for strengthening China-ASEAN trade and the impediments facing Chinese and ASEAN investors in each other's markets, and recommends policy measures to maximise the benefits and minimise the hardships resulting from an ASEAN-China FTA.

Abstract: In the period between 1980 and 1995, both Europe and the US made huge investments in Latin America. The process of democratization in Latin America, especially in the countries marked by a tradition of military dictatorship, has reinforced the belief in political and economic stability. The economy has displayed considerable growth and, partly stimulated by the IMF and the World Bank, several countries are embarking on privatization on a grand scale.2 Political and economic cooperation between the countries is taking the place of political and military rivalry. The time is ripe for a new attempt at integration on this continent. The overtures between Argentina and Brazil led to the establishment of Mercosur. Its economic (Mercosur is the fourth largest trade bloc in the world after the US, the EU, and Japan) and political importance have been recognized, especially by the EU. As early as 1996,3 an Interinstitutional Cooperation Agreement was concluded, an interregional framework agreement for cooperation between the EU Member States and Mercosur States parties.4 Since then, the EU-Mercosur Bi-regional Negotiations Committee (BNC)5 has already had ten meetings at which topics such as the free movement of goods, public procurement, investments, services, e-commerce, and conflict resolution were discussed. The US has never appreciated the attempts at integration in Latin America and has always striven to conclude separate free trade agreements with each individual country. The recent free trade agreement with Chile is a clear example.6

Abstract: Trachtman examines the welfare economics, political economy, and legal experience in international economic migrationm, and on the basis of his analysis, suggests the structure of a multilateral framework agreement on internatinoal economic migration.