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Toward a Free Trade Area of the Asia Pacific.

Publication: Estudios Internacionales
Publication Date: 01-JAN-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Toward a Free Trade Area of the Asia Pacific.(Documento)

Article Excerpt
At their recent annual summit in Vietnam, the Leaders of the 21 members of the Asia Pacific Economic Cooperation (APEC) forum launched a process that could ultimately produce the largest single act of trade liberalization in history. They agreed to > negotiating a Free Trade Area of the Asia Pacific (FTAAP) and instructed their officials to > the initiative, so that they could address it at next year's summit in Australia.

The APEC members account for more than half the world economy and about half of world trade. Hence any agreement that approached free trade among the group would be even more far-reaching, in trade terms, than the European Community or the North American Free Trade Agreement. It would be much more extensive than any of the global liberalizing compacts previously negotiated in the GATT or envisaged in the current Doha Round in the World Trade Organization. Doha of course remains highly desirable, and the APEC Leaders reaffirmed their commitment to its success, but the FTAAP would be by far the best available > to restart widespread trade-liberalizing momentum if multilateral progress remains blocked in Geneva.

The FTAAP idea has been actively promoted by APEC's Business...

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