Economic Effects of Trade Facilitation in APEC:

Size: px
Start display at page:

Download "Economic Effects of Trade Facilitation in APEC:"

Transcription

1 Very Early Draft Please do not quote or cite Economic Effects of Trade Facilitation in APEC: Policy Implications by Scenarios Sangkyom Kim (KIEP)

2 Table of Contents I. INTRODUCTION II. TRADE FACILITATION: THEORY AND PRACTICE 1. Trade Facilitation, Trade Costs, and Trade Flows 2. Overall Gains from Trade Facilitation 3. Overview of Achievements in Trade Facilitation: Case of Korea III. ECONOMIC EFFECT OF TRADE FACILITATION 1. Indexation of Trade Facilitation 2. Scenarios 3. Simulation Result: Economic Effect by Scenarios IV. CONCLUDING REMARKS 1

3 I. INTRODUCTION The 13 th APEC Economic Leaders Meeting, held in Busan in November 2005, adopted the Mid-term Stocktake of Progress towards the Bogor Goals report and the Busan Roadmap to the Bogor Goals. The Busan Roadmap contains six strategies and specific ways to pursue the Bogor goal as follows: 1) support for a multilateral trading system, 2) strengthening of collective and individual actions, 3) promotion of highquality FTAs/RTAs, 4) Busan business agenda, 5) strategic approach to capacity building, and 6) pathfinder approach. The Bogor goals of free trade and investment in the Asia-Pacific region for 2010 for industrialized economies and 2020 for developing economies were set out in the Bogor Declaration in 1994, and this roadmap will serve as one of the most important guides for APEC s TILF activities until the goals are accomplished. In particular, the Busan Business Agenda suggests that member economies take concrete action to achieve an additional 5% reduction in transaction costs by Although APEC has emphasized trade liberalization and facilitation from the onset of its establishment in 1989, assessment of its first ten years of Trade Investment Liberalization and Facilitation (TILF) activities after Bogor have witnessed that more resources have been invested into activities related to tariff reduction. However, after failing to reach an agreement in the EVSL initiatives in 1988, APEC began to place more emphasis on seeking alternative means to achieving the goals. In 1999, at the 11th APEC Ministerial Meeting in Auckland, emphasis on the need to speed up the process of trade facilitation in the fields of customs procedures, standards and business mobility were stressed. APEC s target on trade facilitation was set for the first time in 2001, when Leaders met in Shanghai agreed to reduce average business transaction cost by 5 percent within 5 years. The Shanghai Accord States: Leaders instruct Ministers to identify, by Ministerial Meeting in 2002, concrete actions and measures to implement the APEC Trade Facilitation Principles by 2006 in close partnership with the private sector. The objective is to realize a significant reduction in the transaction costs 2

4 by endeavoring to reduce them by 5% across the APEC region over the next 5 years. Leaders also instruct Ministers to explore the possibility of setting objective criteria on trade facilitation, taking fully into account the diversity among the members as well as progress achieved in respective economies so far. Leaders also agree that assistance programmes to help build the capacity of developing economies in trade facilitation is particularly important. Since then, APEC s efforts to promote trade facilitation have emerged as an important engine for achieving Bogor goals. As a follow up to the mandate to reduce transaction cost as addressed in Shanghai Accord, APEC member economies developed a Trade Facilitation Action Plan (TFAP) and agreed to report annually the progress individual economy has made in the area of 1) customs procedures, 2) standard and conformance, 3) business mobility, and 4) e-commerce. As A Mid-term Stocktatke of progress Towards the Bogor Goals report clearly suggests that trade and investment facilitation, transparency and behind-the-border regulations and administrative procedures are now emerging as important determinants that ensure that Bogor goals are achieved under new economic environment. More specifically, APEC Ministers met in Busan instructed APEC Senior Officials to carry out further concrete actions in identified priority areas, such as improving customs procedures, enhancing the alignment of domestic standards, facilitating business mobility and fostering a paperless trading environment, with a view of producing tangible benefits for the business community. The purpose of this paper is not to develop work plans that would take TFAP for successful implementation of 5 percent reduction in business transaction costs by 2006 and beyond. On the contrary, this paper will attempt to draw up a series of policy options and strategies that APEC policy makers may utilize in the course of constructing Action Plans to achieve Busan Roadmap with particular reference to trade facilitation activities. As part of these efforts, we will briefly analyze the economic significance of the trade facilitation in theory, and then overview the achievements made by Korea in the selected areas relevant to trade facilitation as reference. Next, with a view to make a realistic empirical analysis we will set up eight different scenarios. This research employed the Computable General Equilibrium (CGE) Model in order to measure each scenario quantitatively, and also introduced the Trade Facilitation Index based on the Gravity Model and survey data. Based on analysis and 3

5 evaluation of empirical outcomes, we will provide policy implications that APEC member economies and policy makers can utilize to develop strategic options conducive to promoting trade facilitation. 4

6 II. TRADE FACILITATION: THEORY AND PRACTICE 1. Trade Facilitation, Trade Costs, and Trade Flows Trade facilitation can be defined as an effort to pursue greater convenience in international trade through the simplification of economic activities such as the movement of goods and services across borders. In a broad sense it can be defined as the lowering or elimination of non-tariff barriers. More specifically, it is an attempt to lower the costs of administration, standardization, technology, information, transaction, labor, communication, insurance, and financing, as well as reduce the time costs related to these procedures. The administration costs arise during customs procedures, the technology costs are involved during standards procedures, and the information costs arise while importing or exporting goods and services. Those costs result in the loss of economic efficiency and reduce gains from trade. Assuming that total costs related to international trade are equivalent to the price difference between world market price of imported goods and domestic consumer price, we can define this to be trade costs. In this context, trade costs can be divided into three categories. The first category is for transaction costs, consisting of transport and insurance costs. Second are policy costs, which are mainly incurred by protection policies like tariff and non-tariff barriers. Last are trade costs due to the lack of trade facilitation. That is, trade costs incurred by the movement of goods and services across borders can be defined as a sum of transaction costs, policy costs, and facilitation costs. Therefore, the reduction in trade costs resulting from better trade facilitation has an identical effect as a reduction of tariffs or non-tariffs, both resulting in an increase in social welfare through the gains from freer trade. More specifically, we apply the iceberg method, which is a traditional method of explaining transaction costs involved in international trade and derive the following equation. 5

7 (1+ t) p = c [ ] (1 γ )(1 τ ) p w In this equation, the p w and p c are world market price and domestic price of the imported goods, respectively, and t represents policy costs, where γ represents transaction costs and τ represents facilitation costs respectively. Let us assume that γ (0<γ<1) represents the percentage occupied by transport costs in a single unit of exportable and only (1-γ) arrives at the importing country. Then γ represents direct transaction costs. If we apply this iceberg method to define the trade costs related to trade facilitation, out of the (1-γ) of imports received, τ (0<τ<1) percent will additionally be discarded due to inefficient customs procedures in the importing country. Therefore, only (1-γ)(1-τ) of exportables will enter the domestic market. With these assumptions, we can interpret τ as the facilitation cost. Therefore, according to the above-mentioned equation, trade facilitation improves the welfare of importing countries by narrowing the gap between the world market price (p w ) and domestic price (p c ) of the imported goods, leading to an increase in the volume of world trade. This implies that when τ is closer to 0, the difference between the two prices will narrow and therefore one can expect higher welfare gains. The development of information and communication technology along with great efforts to liberalize trade has brought about a considerable reduction in transaction (γ) and policy (t) costs. At the same time, due to developments in information and communication technology, and increases in e-commerce as well as efforts to increase efficiency in customs procedures, facilitation costs (τ) have also fallen. However, this reduction in facilitation costs has been highlighted recently and is only a small fraction of the reduction in transaction and policy costs. It is believed that there is still plenty of room for additional reductions in facilitation costs, which can lead to a remarkable improvement in the world trade environment. 6

8 2. Overall Gains from Trade Facilitation The anticipated effects of trade facilitation on the world economy can be summarized as follows: (1) Expected Gains from Trade Facilitation The reduced or eliminated non-tariff barriers through trade facilitation supplement the lowering of tariffs and result in the increase in the world trade volume. Then the world economy and participating countries will be better off. Similar to tariffs, trade facilitation induces a fall in trade costs. It will create more trade and increase gains from freer and easier trade. Trade facilitation will reduce the opportunity costs of international specialization. This will result in more intra-firm trade through vertical integration of multinational corporations. This will directly lead to an increase in trade of intermediary goods and services and, indirectly, lead to an increase in foreign investment, which will raise welfare and produce economic growth. In short, trade facilitation will increase opportunities of outsourcing and expand the fragmentation of production activities across borders. Welfare will be better off through this process. In particular, it will assist in the industrialization of developing economies through the expansion of outsourcing and transferring of technology across borders. Trade facilitation may improve the government s efficiency in administration and may enhance transparency. Other than these anticipated benefits, the government revenue may increase from customs procedure related activities. Trade facilitation will reduce the possibility of international disputes between developed economies and developing economies arising from differences in customs procedures and operating systems. This will reduce the costs of resolving disputes and lead to an increase in world trade. The automation of transactions and the adoption of electronic payments system 7

9 creates more gains from the reduced transaction costs and gains from tougher competition at the world market. It is expected that trade facilitation will help small and medium enterprises (SME s), especially in developing countries, to be more quickly and actively exposed to the global market. This will in turn produce more gains from trade promising economic growth in developing economies. Another gain in welfare may be achieved by developing economies resulting from trade related regulatory reforms, leading to improvements in areas related to health and safety. Further economic development is expected, by the facilitation of trade related labor force movements through improvements in working environments and the accumulation of human capital in developing economies. Trade facilitation can be easily pushed forward since it has characteristics of a public good and if applied non-exclusively it satisfies the fundamental ideas of the WTO and is consistent with APEC s open regionalism. (2) Expected Costs Accompanying Trade Facilitation Higher implementing costs are expected. Legal and structural infrastructures must be set up prior to carrying out trade facilitation; the amount of skilled labor must be enlarged through continuous education and training; there is also a huge amount of fixed cost involved in obtaining capital and facilities, which are required in improving the system. A discrepancy in Standards among the participating economies is expected. In reality, it will be very difficult to harmonize the differences in customs procedures, systems, infrastructure, labor standard, safety, technology, etc., when each economy is in a different phase of development. There is a difficulty in revealing the effectiveness. Unlike trade liberalization, 8

10 there are limitations in obtaining statistical evidence of trade facilitation on trade costs. It makes a difficulty to carry out a cost-benefit analysis and thus it creates a political burden for policy makers to push any trade facilitation related policy forward without a quantitative estimation on the expected effect. Free riding problem exists in open regionalism. In addition, this unique characteristic of trade facilitation will inevitably bring about the free riding problem. 3. Overview of Achievements in Trade Facilitation: Case of Korea Building on the successful structural reform that has transformed Korean market into more business friendly one, trade facilitation measures are being carried out to strengthen the elements of transparency, efficiency and competition. One of main objectives Korea s trade facilitation activities is, with no doubt, to reduce transaction cost (trade cost by our definition) by enhancing efficiency. The Korea s ongoing efforts in this endeavor is deeply associated with furthering various reform measures on the one hand, and strengthening R&D capacity by encouraging a more innovative science and technology base on the other. Among other measures, Korea has placed a high priority on simplifying customrelated operations aiming at reducing transaction cost with enhanced security. Korea has continued developing and implementing specific actions and plans of improving channels of communications, technological equipment, automation of customs operations and procedures to simplify trade operations. As a part of its efforts, the Korea Customs Service (KCS) joined the Revised Kyoto Convention in 2003 and has persistently taken necessary institutional measures to adhere to the convention. First, Korea has devised the Customs Code of Conduct, and carried out the Clean and Transparent Customs Movement. Second, it has set up Internet-based Im/Export Clearance System to enhance transparency in its customs clearance process. Third, to strengthen the safety and security while enhancing efficiency, KCS is operating the Cargo Management System for selection and prevention of high-risk cargoes. Fifth, to enhance effectiveness of Customs administration, the KCS has strengthened cooperation 9

11 with the private sector, and expanded conclusion of MOUs with private enterprises. KCS concluded MOU with the business sector on the customs surveillance operation so as to effectively deal with the increasing volume of trade on one hand and to prevent taking drugs and dangerous objects into the country. By the end of 2003, the number of MOU with business sectors amounted to 674. At the same time, to enhance custom related security, Korea has sophisticated risk management techniques through customs administration informatization, and encouraged businesses to better observe laws and regulations by carrying out Customs-private cooperation projects. In order to make a significant breakthrough for trade facilitation, the KCS will establish the Clearance Single Window in which Customs plays the central role, and by constantly improving logistics flow, it is going to realize seamless clearance procedures. The KCS has put paperless trading in full swing and established the Internet-based Im/Export Clearance System to reduce trade transaction costs. It has also limited Iim/export requirements to items directly related to pubic health, environmental protection and community security, and drastically reduce the number requirements from 5435 in 1999 to 4114 in In order to expedite logistics flow, the KCS has measured the time required for cargo processing and analyzed causes of delay in clearance procedures. As a result, it succeeded in reducing the clearance time from 9.6 to 5.5 days. Korea also demonstrated a great success in actions and measures taken in the area of standard and conformance. Korea is committed to increase in umber of domestic standards aligned with international standards such as ISO or IEC. As of December 2004, 11,488 Korean Industrial Standards (KS standards), or 99.6% of the 11,535 KS are harmonized with ISO or IEC standard. In the field of ICT, as of December 2004, Korea has aligned 100% of the 693 Safety Criteria fore electric equipment with the relevant international standards. Korea also placed special emphasis on four priority areas identified by APEC as follows: Regarding food labeling, as of 2003, Korea has completely harmonized its domestic standard with 1 international standard (Codex General Guidelines on Claims) out of 4 international standards. It has also finished partial harmonization (12 out of 19 sub-sectors) on 3 international standards and has been 10

12 continuously revising the unfinished work. For the remaining 1 standard, Korea will finish the harmonization work by the end of Regarding electrical and electronic appliances, Korea has 20 standards, 15 of which are harmonized with international standards. Regarding rubber products, Korea has 3 standards, 2 of which are harmonized with international standards. Regarding machinery, Korea has 6 standards, all of which are harmonized with international standards. Korea made great effort on its participation in regional and international MRAs, as well as in various conformity assessment bodies. Korea is participants in all voluntary mutual recognition agreements led by five specialist regional bodies (PASC, APMP, APLAC, APLMF, PAC). Korea has joined APEC TEL-MRA stage I and APEC EE- MRA stage I. Korea agreed to have MRA with Singapore and is actively seeking MRA with other partners through APEC and FTA negotiations. Korea has demonstrated continued commitment to facilitating the mobility of business people in the region. With regard to the relaxation of eligibility for long term residents permits for investors, the investors who invest more than 5,000,000 US dollars will be eligible for applying a permanent residence permit. Korea also implemented streamlined temporary residency processing arrangements for the intra-company transfer of senior managers and executives, and specialist defined by individual economies. As of December 2004, nationals from 109 countries, including 15 APEC member economies, can make a short term visit to Korea without visa. Korea has joined in ABTC in 1997 as one of founding members and is actively promoting the usefulness of this scheme to the business community. Implementation of Advanced Passenger System (API) became effective in 2005, and all relevant information on its government website. 11

13 Table 1. Overview on Implementation of Trade Facilitation Actions and Measures since Shanghai Accord Menu of No of Items No of Items No of Items No of Items No of Items Actions and Measures ) Selected Implemented Completed in Progress Pending Implementation [a] [b] [c] [d] = [b] [c] [e] = [a] [b] Customs Procedures Standards Business Mobility Electronic Commerce Others (if any) Total Source: APEC, Highlights on Trade Facilitation Work cum Mid-Term Review 12

14 Table 1 presents the overview on Korea s implementation of trade facilitation actions and measures since Shanghai Accord. The menu of concrete actions and measures for trade facilitation lists out 97 items of actions and measures, with breakdown as follows: Customs Procedures - 60, Standards 20, Business Mobility 6, Electronic Commerce 11. Among these lists, Korea selected 85 items 54 from Customs procedures, 20 from standards, and 11 from electronic commerce. Korea reports that it has commenced implementation of 48 items while implementation of 39 actions and measures under the category of customs procedures have been reported to be completed. 13

15 III. ECONOMIC EFFECTS OF TRADE FACILITATION 1. Indexation of Trade Facilitation In order to quantify the economic effect of Trade Facilitation on TILF, outcome of the APEC wide survey carried out by KIM and Park in 2001 is employed. In order to draw statistically relevant and economically significant outcome, we divide APEC member economies into three groups: Industrialized Economies (Australia, Canada, Japan, New Zealand, U.S.A.), Newly Industrialized Economies (Hong Kong, China, Korea, Mexico, Singapore, Chinese Taipei) and Industrializing Economies (Chile, China, Indonesia, Malaysia, Peru, the Philippines, Former Soviet Union, Thailand, Vietnam). Brunei Darussalam and Papua New Guinea could not be included due to insufficient data. Tables 2 reports the weighted averaged minimum, maximum and median percentage change in transaction costs, in consumer prices of imports and in import demand that caused by trade facilitation for each group. For the purpose of overcoming data insufficiency and enhancing statistical significance, the survey outcome of the representing economy or economies in each group is utilized to produce the effects of the trade facilitation in three areas: i.e. Industrialized Economies (Japan), Newly Industrialized Economies (Korea), Industrializing Economies (Chile, Indonesia, Malaysia, PNG, Peru, the Philippines, Thailand) According to the outcome of the survey, upon the improvement of 50% in trade facilitation in each of the three areas, the resulting transaction cost reduction effect ranged from the lowest 1.3 percent in the area of the standard for industrializing economies to the highest 15.2 percent in the area of customs procedures for industrializing economies. Applying the same assumptions as before, the maximum reduction of import price is realized in the area of customs procedures at 9 percent for industrializing economies, whereas the minimum effect is expected in the area of business mobility at 1.0 percent increase in demand for imports is taking place in the case of industrializing economies. 14

16 Table 2. Effects of Trade Facilitation (Survey Results) Effect of Trade Facilitation on Transaction Cost (Survey Result) MIN MAX MED Industrialized APEC Economies Customs Procedures Standards Business Mobility Newly Industrialized APEC Economies Customs Procedures Standards Business Mobility Developing APEC Economies Customs Procedures Standards Business Mobility Effect of Trade Facilitation on Import Price (Survey Result) MIN MAX MED Industrialized APEC Economies Customs Procedures Standards Business Mobility Newly Industrialized APEC Economies Customs Procedures Standards Business Mobility Developing APEC Economies Customs Procedures Standards Business Mobility Effect of Trade Facilitation on Import Demand (Survey Result) MIN MAX MED Industrialized APEC Economies Customs Procedures Standards Business Mobility Newly Industrialized APEC Economies Customs Procedures Standards Business Mobility Developing APEC Economies Customs Procedures Standards Business Mobility Sources: Kim and Park (2001) and APEC (2002). 15

17 As in the previous results, the facilitation of customs procedures causes the largest increase in demand for imports (13.5 percent). However, the effects of facilitating standards produce a minimum increase in imports (0.5 percent). For example, from the survey, we found that APEC developing economies importing companies expect minimum 2.0 percent increase in import demand if Korea s customs procedures were improved by 50 percent. We consider this figure to represent the degree to which the customs procedures impede trade with their trading partners. That is, higher expectation of import demand increase reveals larger impediments for importing companies passing through. We include four indicators of trade facilitation that measure four different categories of trade facilitation: customs procedures (CP) standards and conformity (SC) business mobility (BM) information and communication technology (ICT) As the first step to quantify the index, we calculate the average effect of trade facilitation by taking a simple average of the three different effects on transaction cost, import price, and import demand in each country. That is, for each of the three groups (represented by the subscript j), the average effect of the improvement in an area of trade facilitation (represented by the subscript f) is calculated as follow. Step 1 [Equation (1)]: (Average Effect of Trade Facilitation on Trade Cost) fj = [(Effect on Transaction Cost) fj + (Effect on Import Price) fj + (Effect on Import Demand) fj ] / 3 for f = CP, SC, BM As the second step to quantify the index, we calculate an average effect of trade facilitation by taking an average of the three countries as a base. 16

18 Step 2 [Equation (2)]: (Base for the Trade Facilitation Index) f = [ j (Average Effect of Trade Facilitation on Trade Cost) fj ] / 3 for f = CP, SC, BM Then calculate relative ratio of each country to the base value. Step 3 [Equation (3)]: (Trade Facilitation Index) fj = (Base for the Trade Facilitation Index) f / (Average Effect of Trade Facilitation on Trade Cost) fj for f = CP, SC, BM The trade facilitation indices are figured in Table 3. The higher the value of the index indicates, the better trade facilitation incurring cheaper facilitation costs to be paid by importing companies. For the quantification of ICT index, we take KBE (knowledge based economies) indicators for information and communication technology from APEC (2003). Table 4 reports the KBE indicators in APEC (2003) and the ICT index calculated for this research. As the first step to quantify the index, we calculate the average level of ICT by taking a simple average of the five different areas of ICT numbers of mobile telephone, phone lines, and computers per 100 people and shares of internet and e- commerce users in each country and APEC as a whole, then calculate the relative ratio of each country to the APEC average. Higher index values indicate better ICT, incurring lower information costs to be paid by importing companies. 17

19 Table 3. Trade Facilitation Index of APEC Average Effect of Trade Facilitation MIN MAX MED Industrialized APEC Economies Customs Procedures Standards Business Mobility Newly Industrialized APEC Economies Customs Procedures Standards Business Mobility Developing APEC Economies Customs Procedures Standards Business Mobility AVERAGE Customs Procedures Standards Business Mobility Indexation MIN MAX MED Industrialized APEC Economies Customs Procedures Standards Business Mobility Newly Industrialized APEC Economies Customs Procedures Standards Business Mobility Developing APEC Economies Customs Procedures Standards Business Mobility AVERAGE Customs Procedures Standards Business Mobility

20 Table 4. ICT Index for APEC Economies Industrialized APEC Newly Industrialized Developing APEC APEC Mobile Telephone per 100 people Phone Lines per 100 people Computers per 100 people Internet Users (%) E-Commerce (%) Average (I) (II) 7.39 (III) (A) ICT Index (I/A) (II/A) (C/A) Source: APEC KBE Indicator Scenarios In order to attempt to estimate the combined effect of trade facilitation and tariff reduction, different set of scenarios are designed based on following five approaches: 1) trade facilitation, 2) tariff reduction through a linear cut, 3) tariff reduction through the Swiss Formula, 4) a combination of trade facilitation and trade liberalization, and 5) adjustment of time schedule, 6) early implementation of Bogor goal. Scenario Number One : Trade Facilitation 50 percent increase in trade facilitation in the following four areas; Customs procedures Standard and conformity Business mobility E-commerce Target date: developed (2010)/developing (2020) 19

21 Scenario Number Two: Tariff Reduction Tariff reduction producing equivalent economic effect generated by 50 percent increase in trade facilitation Target date: developed (2010)/developing (2020) Scenario Number Three: Tariff Reduction by Linear Cut 30 percent tariff reduction by linear cut Target date: developed (2010)/developing (2020) Scenario Number Four: Tariff Reduction by Linear Cut 50 percent tariff reduction by linear cut for developed economies 25 percent tariff reduction by linear cut for developing economies Target date: developed (2010)/developing (2010) Scenario Number Five: Tariff Reduction by Swiss Formula a=16 for developed economies a=16 for developing economies Target date: developed (2010)/developing (2020) Scenario Number Six : Tariff Reduction by Swiss Formula a=16 for developed economies a=35 for developing economies Target date: developed (2010)/developing (2010) 20

22 Scenario Number Seven: Combination of Number 1 and Number 5 50 percent increase in trade facilitation in the following four areas; Customs procedures Standard and conformity Business mobility E-commerce Tariff reduction by Swiss Formula a=16 for developed economies a=16 for developing economies Target date: developed (2010)/developing (2020) Scenario Number Eight: Combination of Number 1 and Number 6 50 percent increase in trade facilitation in the following four areas; Customs procedures Standard and conformity Business mobility E-commerce Tariff reduction by Swiss Formula a=16 for developed economies a=35 for developing economies Target date: developed (2010)/developing (2010) 3. Simulation Result: Economic Effect by Scenarios Table 5-8 provide a summary outcome of the economic effects of each scenario introduced in earlier chapter. The CGE model used in this simulation is multi-sector and multi-region CGE model based on GTAB Database Version 6. In order to evaluate the economic effects, we analyzed the effect on real GDP (Table 5), welfare (Table 6), exports (Table 7) and imports (Table 8). 21

23 There are several expected effects, mainly on GDP, from each scenario. First, the outcome of the forecast suggests that more than 85 percentage of tariff needs to be reduced in order to achieve equivalent economic effects generated by 50 percent increase in trade facilitation. Second, the research outcome shows that trade liberalization activities through both trade facilitation and the Swiss Formula will result in the greatest increases in GDP overall in the APEC economies, with a 3.39% GDP increase in Korea. Third, our forecasts also indicate that economic effects of tariff reduction by means of the Swiss Formula surpassed the one through a linear cut in terms of potential GDP increases. For example, Korea would experience a 2.07% GDP increase in the case of the Swiss Formula, as opposed to a 1.14% increase from a linear cut. It is worth noting that most industrialized economies and developing economies in Lain America would experience the opposite. When it comes to positive effects, the difference was significantly large between the two formulas, while differences in the negative effects are relatively small. Fourth, all of our forecasts indicate that developing economies, especially those in Northeast Asia, will gain more profits through promoting trade liberalization and trade facilitation than industrialized economies. 22

24 Table 5. Economic Effects on Real GDP by Scenario (Unit: %) S -1 S-2 S-3 S-4 S-5 S-6 S-7 S-8 Korea Japan China USA Canada AUS NZ Indonesia Malaysia PHIL Singapore Thailand Chinese T HK China Vietnam Mexico Chile Russia Peru

Economic Effects of Trade Facilitation in APEC:

Economic Effects of Trade Facilitation in APEC: Very Early Draft Please do not quote or cite Economic Effects of Trade Facilitation in APEC: Policy Implications by Scenarios 2006. 3 Sangkyom Kim (KIEP) Table of Contents I. INTRODUCTION II. TRADE FACILITATION:

More information

Reducing Business Travel Costs: The Success of APEC s Business Mobility Initiatives

Reducing Business Travel Costs: The Success of APEC s Business Mobility Initiatives Reducing Business Travel Costs: The Success of APEC s Business Mobility Initiatives APEC Policy Support Unit October 2011 Prepared by: Tammy L. Hredzak and Bernadine Zhang Yuhua Asia-Pacific Economic Cooperation

More information

APEC s Bogor Goals Mid-Term Stock Taking and Tariff Reduction

APEC s Bogor Goals Mid-Term Stock Taking and Tariff Reduction APEC Study Center Consortium Conference 2 PECC Trade Forum 2 22-2 May 2, Hotel Shilla, Jeju, Korea APEC s Bogor Goals Mid-Term Stock Taking and Tariff Reduction 1993 Blake s Island, US Hikari Ishido (Associate

More information

MEETING OF APEC MINISTERS RESPONSIBLE FOR TRADE. Puerto Vallarta, Mexico May 2002 STATEMENT OF THE CHAIR

MEETING OF APEC MINISTERS RESPONSIBLE FOR TRADE. Puerto Vallarta, Mexico May 2002 STATEMENT OF THE CHAIR MEETING OF APEC MINISTERS RESPONSIBLE FOR TRADE Puerto Vallarta, Mexico 29 30 May 2002 STATEMENT OF THE CHAIR APEC Ministers Responsible for met in Puerto Vallarta, Mexico, to discuss concrete ways to

More information

Rules of Origin Process (Chile)

Rules of Origin Process (Chile) Asia-Pacific Economic Cooperation Secretariat 2004/SOM1/SCCP1/060 Agenda Item: 10.4 Rules of Origin Process (Chile) Sub-Committee on Customs Procedures Santiago, Chile 25-27 February 2004 BACKGROUND The

More information

TRADE FACILITATION WITHIN THE FORUM, ASIA-PACIFIC ECONOMIC COOPERATION (APEC) 1

TRADE FACILITATION WITHIN THE FORUM, ASIA-PACIFIC ECONOMIC COOPERATION (APEC) 1 Issue No. 181, September 2001 TRADE FACILITATION WITHIN THE FORUM, ASIA-PACIFIC ECONOMIC COOPERATION (APEC) 1 In terms of content, this article follows along the same lines as Bulletin FAL No. 167, although

More information

Meeting of APEC Ministers Responsible for Trade Sapporo, Japan 5-6 June Statement of the Chair

Meeting of APEC Ministers Responsible for Trade Sapporo, Japan 5-6 June Statement of the Chair Meeting of APEC Ministers Responsible for Trade Sapporo, Japan 5-6 June 2010 Statement of the Chair Introduction 1. We, the APEC Ministers Responsible for Trade, met in Sapporo, Japan from 5 to 6 June,

More information

Turning Trade Opportunities and Challenges into Trade: Implications for ASEAN Countries

Turning Trade Opportunities and Challenges into Trade: Implications for ASEAN Countries Turning Trade Opportunities and Challenges into Trade: Implications for ASEAN Countries Dr. Ponciano Intal, Jr The OECD-WB Global Forum on Globalization, Comparative Advantage and Trade Policy Chengdu,

More information

The East Asian Community Initiative

The East Asian Community Initiative The East Asian Community Initiative and APEC Japan 2010 February 2, 2010 Tetsuro Fukunaga Director, APEC Office, METI JAPAN Change and Action The Initiative for an East Asian Community Promote concrete

More information

APEC Trade Facilitation Initiatives

APEC Trade Facilitation Initiatives APEC Trade Facilitation Initiatives 3 October 2011 Seoul Presented by Akhmad Bayhaqi (Mr) Policy Support Unit, APEC Secretariat About APEC APEC s Vision 1994 Bogor Goals Free and open trade and investment

More information

2010/SCSC/WKSP1/004 APEC Toy Safety Initiative: Survey Results

2010/SCSC/WKSP1/004 APEC Toy Safety Initiative: Survey Results 2010/SCSC/WKSP1/004 APEC Toy Safety Initiative: Survey Results Submitted by: United States APEC Toy Safety Initiative Open Dialogue on Toy Safety for All Stakeholders Hong Kong, China 12 January 2010 RESULTS

More information

Charting Cambodia s Economy

Charting Cambodia s Economy Charting Cambodia s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June

More information

Vietnam Experiences: Trade Facilitation and Economic Development

Vietnam Experiences: Trade Facilitation and Economic Development Vietnam Experiences: Trade Facilitation and Economic Development Nguyen Thang, Center for Economic Analysis and Forecast, Vietnam Academy of Social Sciences, Vietnam 6/8/2009 1 Outline Vietnamese economy

More information

APEC's Strategies And Actions Toward A Cross-Border Paperless Trading Environment

APEC's Strategies And Actions Toward A Cross-Border Paperless Trading Environment Asia-Pacific Economic Cooperation 2004/AMM/004 Agenda Item: V.4 APEC's Strategies And Actions Toward A Cross-Border Paperless Trading Environment Purpose: Consideration Submitted by: ECSG Chair 16 th APEC

More information

Advanced Passenger Information: Sharing Data for Effective Border Control that Support Tourism Growth in the Asia-Pacific

Advanced Passenger Information: Sharing Data for Effective Border Control that Support Tourism Growth in the Asia-Pacific 2013/HLPD-TF/010 Session 2 Advanced Passenger Information: Sharing Data for Effective Border Control that Support Tourism Growth in the Asia-Pacific Purpose: Information Submitted by: Philippines High

More information

Regional Trade Facilitation APEC BUSINESS TRAVEL CARD SCHEME

Regional Trade Facilitation APEC BUSINESS TRAVEL CARD SCHEME Regional Trade Facilitation APEC BUSINESS TRAVEL CARD SCHEME APEC Business Travel Card Scheme This presentation covers the following topics: How the ABTC Scheme Has Grown Integrity of the Scheme The ABTC

More information

Trans-Pacific Trade and Investment Relations Region Is Key Driver of Global Economic Growth

Trans-Pacific Trade and Investment Relations Region Is Key Driver of Global Economic Growth Trans-Pacific Trade and Investment Relations Region Is Key Driver of Global Economic Growth Background The Asia-Pacific region is a key driver of global economic growth, representing nearly half of the

More information

Charting South Korea s Economy, 1H 2017

Charting South Korea s Economy, 1H 2017 Charting South Korea s Economy, 1H 2017 Designed to help executives interpret economic numbers and incorporate them into company s planning. Publication Date: January 3 rd, 2017 Next Issue: To be published

More information

Report of the APEC Informal Meeting on Standards and Conformance Yogyakarta, 8 September 1994

Report of the APEC Informal Meeting on Standards and Conformance Yogyakarta, 8 September 1994 ~ - - - -., 1 Report of the APEC nformal Meeting on Standards and Conformance Yogyakarta, 8 September 1994. The nformal Meeting on Standards and Conformance was held on 8 September 1994 prior to the Third

More information

Appendix 3 - Progress on Economies Implementation of the WTO Trade Facilitation Agreement

Appendix 3 - Progress on Economies Implementation of the WTO Trade Facilitation Agreement 2018/AMM/011app03 Agenda Item: 2 Appendix 3 - Progress on Economies Implementation of the WTO Trade Facilitation Agreement Purpose: Consideration Submitted by: CTI Chair Forum Doc. No.: 2018/CSOM/014app03

More information

Charting Indonesia s Economy, 1H 2017

Charting Indonesia s Economy, 1H 2017 Charting Indonesia s Economy, 1H 2017 Designed to help executives interpret economic numbers and incorporate them into company s planning. Publication Date: January 3 rd, 2017 Next Issue: To be published

More information

Charting Singapore s Economy, 1H 2017

Charting Singapore s Economy, 1H 2017 Charting Singapore s Economy, 1H 2017 Designed to help executives interpret economic numbers and incorporate them into company s planning. Publication Date: January 3 rd, 2017 Next Issue: To be published

More information

Charting Australia s Economy

Charting Australia s Economy Charting Australia s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June

More information

Executive Summary of the Report of the Track Two Study Group on Comprehensive Economic Partnership in East Asia (CEPEA)

Executive Summary of the Report of the Track Two Study Group on Comprehensive Economic Partnership in East Asia (CEPEA) Executive Summary of the Report of the Track Two Study Group on Comprehensive Economic Partnership in East Asia (CEPEA) 1. Economic Integration in East Asia 1. Over the past decades, trade and investment

More information

Seminar on Trade Facilitation in East Asia November 2004, Shanghai, China

Seminar on Trade Facilitation in East Asia November 2004, Shanghai, China Seminar on Trade Facilitation in East Asia November 2004, Shanghai, China TRADE FACILITATION: Development Perspectives and Approaches of ASEAN in 2004 Presentation by Noordin Azhari Director, Bureau for

More information

INTRODUCTION The ASEAN Economic Community and Beyond

INTRODUCTION The ASEAN Economic Community and Beyond 1 INTRODUCTION The ASEAN Economic Community and Beyond The ten countries of Southeast Asia Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam are achieving

More information

OECD - ERIA Joint Regional Symposium Making Global Value Chains more inclusive for ASEAN

OECD - ERIA Joint Regional Symposium Making Global Value Chains more inclusive for ASEAN OECD - ERIA Joint Regional Symposium Making Global Value Chains more inclusive for ASEAN Hanoi, 13 June 2016 Gerard McLinden Lead Specialist Why have GVCs emerged? Not a new phenomenon what has changed

More information

Growth, Investment and Trade Challenges: India and Japan

Growth, Investment and Trade Challenges: India and Japan Growth, Investment and Trade Challenges: India and Japan October 31, 2017 Shujiro URATA Waseda University Outline 1. Economic Growth: Japan and India 2. Foreign Trade and Investment 3. India Japan EPA

More information

SECTION THREE BENEFITS OF THE JSEPA

SECTION THREE BENEFITS OF THE JSEPA SECTION THREE BENEFITS OF THE JSEPA 1. Section Two described the possible scope of the JSEPA and elaborated on the benefits that could be derived from the proposed initiatives under the JSEPA. This section

More information

TRADE FACILITATION: Development Perspectives and Approaches of ASEAN in presented by

TRADE FACILITATION: Development Perspectives and Approaches of ASEAN in presented by TRADE FACILITATION: Development Perspectives and Approaches of ASEAN in 2004 presented by Noordin Azhari Director, Bureau for Economic Integration ASEAN Secretariat at the Seminar on Trade Facilitation

More information

Charting Philippines Economy, 1H 2017

Charting Philippines Economy, 1H 2017 Charting Philippines Economy, 1H 2017 Designed to help executives interpret economic numbers and incorporate them into company s planning. Publication Date: January 3 rd, 2017 Next Issue: To be published

More information

Free Trade Vision for East Asia

Free Trade Vision for East Asia CEAC Commentary introduces outstanding news analyses and noteworthy opinions in Japan, but it does not represent the views of CEAC as an institution. April 28, 2005 Free Trade Vision for East Asia By MATSUDA

More information

APEC Economies. Realising the benefits of trade facilitation

APEC Economies. Realising the benefits of trade facilitation APEC Economies Realising the benefits of trade facilitation A report prepared for the APEC Ministerial Meeting, Los Cabos, Mexico, 2002 APEC Economies Realising the benefits of trade facilitation A report

More information

AUTHORIZED ECONOMIC OPERATORS & MUTUAL RECOGNITION

AUTHORIZED ECONOMIC OPERATORS & MUTUAL RECOGNITION AUTHORIZED ECONOMIC OPERATORS & MUTUAL RECOGNITION Rachel Dignam International Chamber of Commerce 05 December 2017 Istanbul, Turkey ICC: THE WORLD BUSINESS ORGANIZATION Business Associations sectoral

More information

U.S. CHAMBER OF COMMERCE

U.S. CHAMBER OF COMMERCE Asia U.S. CHAMBER OF COMMERCE The U.S. Chamber of Commerce is the world s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as

More information

Trade Facilitation and Better Connectivity for an Inclusive Asia and Pacific

Trade Facilitation and Better Connectivity for an Inclusive Asia and Pacific Trade Facilitation and Better Connectivity for an Inclusive Asia and Pacific Highlights Trade Facilitation and Better Connectivity for an Inclusive Asia and Pacific Highlights Creative Commons Attribution

More information

10-11 September 2014, Macao, China. Summary Record of Discussion

10-11 September 2014, Macao, China. Summary Record of Discussion The 45 th APEC Working Group Meeting 10-11 September 2014, Macao, China Summary Record of Discussion 1. Mr. Du Jiang, Vice Chairman of the China National Tourism Administration (CNTA) delivered his opening

More information

Mega-regionalism and Developing Countries

Mega-regionalism and Developing Countries Mega-regionalism and Developing Countries Michael G. Plummer, Director, SAIS Europe, and Eni Professor of International Economics, Johns Hopkins University Presentation to Lee Kuan Yew School of Public

More information

Economics of the Trans- Pacific Partnership (TPP)

Economics of the Trans- Pacific Partnership (TPP) Economics of the Trans- Pacific Partnership (TPP) AED/IS 4540 International Commerce and the World Economy Professor Sheldon sheldon.1@osu.edu What is TPP? Trans-Pacific Trade Partnership (TPP), signed

More information

International Activities

International Activities Chapter 6 International Activities As mutual dependence between different economies in the world further accelerates, Japan Customs actively promotes international harmonization of customs procedures and

More information

East Asia and Latin America- Discovery of business opportunities

East Asia and Latin America- Discovery of business opportunities East Asia and Latin America- Discovery of business opportunities 2004 FEALAC Young Business Leaders Encounter in Tokyo 12 February 2004, Toranomon Pastoral Hotel Current Economic Situations (Trade and

More information

Dr. Biswajit Dhar Professor Jawaharlal Nehru University New Delhi

Dr. Biswajit Dhar Professor Jawaharlal Nehru University New Delhi Dr. Biswajit Dhar Professor Jawaharlal Nehru University New Delhi Email: bisjit@gmail.con Regional Dialogue on Enhancing the Contribution of Preferential Trade Agreements to Inclusive and Equitable Trade,

More information

Japan s Policy to Strengthen Economic Partnership. November 2003

Japan s Policy to Strengthen Economic Partnership. November 2003 Japan s Policy to Strengthen Economic Partnership November 2003 1. Basic Structure of Japan s External Economic Policy -Promoting Economic Partnership Agreements with closely related countries and regions

More information

International Economic Integration & Institutional Reforms: The Case of Vietnam. Vo Tri Thanh Central Institute for Economic Management (CIEM)

International Economic Integration & Institutional Reforms: The Case of Vietnam. Vo Tri Thanh Central Institute for Economic Management (CIEM) International Economic Integration & Institutional Reforms: The Case of Vietnam Vo Tri Thanh Central Institute for Economic Management (CIEM) Da Nang, 05 March 2018 1 Outline of Presentation 30 Years of

More information

Proliferation of FTAs in East Asia

Proliferation of FTAs in East Asia Proliferation of FTAs in East Asia Shujiro URATA Waseda University and RIETI April 8, 2005 Contents I. Introduction II. Regionalization in East Asia III. Recent Surge of FTAs in East Asia IV. The Factors

More information

Mizuho Economic Outlook & Analysis

Mizuho Economic Outlook & Analysis Mizuho Economic Outlook & Analysis The 18th Questionnaire Survey of Japanese Corporate Enterprises Regarding Business in Asia (February 18) - Japanese Firms Reevaluate China as a Destination for Business

More information

MOVEMENT OF NATURAL PERSONS

MOVEMENT OF NATURAL PERSONS Chapter 3 MOVEMENT OF NATURAL PERSONS Overview of the Rules 1. Background to the Rules (See Section II, Chapter 11 Trade in Services for Mode Four movement of natural persons under GATS) Chapters on the

More information

The Challenge of Inclusive Growth: Making Growth Work for the Poor

The Challenge of Inclusive Growth: Making Growth Work for the Poor 2015/FDM2/004 Session: 1 The Challenge of Inclusive Growth: Making Growth Work for the Poor Purpose: Information Submitted by: World Bank Group Finance and Central Bank Deputies Meeting Cebu, Philippines

More information

Mega-Regionalism in Asia: 5 Economic Implications

Mega-Regionalism in Asia: 5 Economic Implications Mega-Regionalism in Asia: 5 Economic Implications Ganeshan Wignaraja Advisor, Economic Research and Regional Cooperation Department, Asian Development Bank gwignaraja@adb.org London October 16, 2015 Selected

More information

Report on Study Examining APEC s Progress Towards Reaching the Bogor Goals for Services Liberalization

Report on Study Examining APEC s Progress Towards Reaching the Bogor Goals for Services Liberalization 2006/SOM1/CTI/FTA-RTA/010 Report on Study Examining APEC s Progress Towards Reaching the Bogor Goals for Services Liberalization Submitted by: Sherry Stephenson, PECC Trade Forum APEC Workshop on Best

More information

Trade Note December 8, 2003

Trade Note December 8, 2003 Trade Note December 8, 2003 Trade Facilitation: New Issues in a Development Context The World Bank Group www.worldbank.org International Trade Department By John S. Wilson These notes summarize recent

More information

Strengthening Economic Integration and Cooperation in Northeast Asia

Strengthening Economic Integration and Cooperation in Northeast Asia Strengthening Economic Integration and Cooperation in Northeast Asia Closing Roundtable International Conference on Regional Integration and Economic Resilience 14 June 2017 Seoul, Korea Jong-Wha Lee Korea

More information

Lecture 4 Multilateralism and Regionalism. Hyun-Hoon Lee Professor Kangwon National University

Lecture 4 Multilateralism and Regionalism. Hyun-Hoon Lee Professor Kangwon National University Lecture 4 Multilateralism and Regionalism Hyun-Hoon Lee Professor Kangwon National University 1 The World Trade Organization (WTO) General Agreement on Tariffs and Trade (GATT) A multilateral agreement

More information

Trade in Services in the APEC Region Challenges and Opportunities for Improvement

Trade in Services in the APEC Region Challenges and Opportunities for Improvement Trade in Services in the APEC Region Challenges and Opportunities for Improvement The University of Southern California September 2012 University of Southern California Marshall School of Business Research

More information

UN ESCAP Trade Facilitation Work programme: Selected tools for logistics performance improvement

UN ESCAP Trade Facilitation Work programme: Selected tools for logistics performance improvement UN ESCAP Trade Facilitation Work programme: Selected tools for logistics performance improvement Yann Duval Trade Policy and Facilitation Section Trade, Investment and Innovation Division United Nations

More information

MEGA-REGIONAL FTAS AND CHINA

MEGA-REGIONAL FTAS AND CHINA Multi-year Expert Meeting on Enhancing the Enabling Economic Environment at All Levels in Support of Inclusive and Sustainable Development (2nd session) Towards an enabling multilateral trading system

More information

E-Commerce Development in Asia and the Pacific

E-Commerce Development in Asia and the Pacific 2013/ SOM3/CTI/WKSP1/015 e-commerce Development in Asia and the Pacific Submitted by: ESCAP Workshop on Building and Enhancing FTA Negotiation Skills on e-commerce Medan, Indonesia 27-28 June 2013 E-Commerce

More information

Understanding AEC : Implication for Thai Business MRS. SRIRAT RASTAPANA

Understanding AEC : Implication for Thai Business MRS. SRIRAT RASTAPANA Understanding AEC : Implication for Thai Business MRS. SRIRAT RASTAPANA Director-General Department of Trade Negotiations April 20, 2011 Outline of Presentation 1. Thailand vs. ASEAN 2. Development on

More information

Latin American Culture of Privacy - Presentation

Latin American Culture of Privacy - Presentation 2008/SOM1/ECSG/SEM/016 Latin American Culture of Privacy - Presentation Submitted by: Asociación Latinoamericana de Integración (ALADI) Technical Assistance Seminar on International Implementation of the

More information

ASEAN Integration & ICT Opportunities. Mark Hefner

ASEAN Integration & ICT Opportunities. Mark Hefner ASEAN Integration & ICT Opportunities Mark Hefner Contents Some ICT Information ASEAN Introduction AEC Introduction ICT & ASEAN Integration International Business International Trade Rules ASEAN Framework

More information

THE AEC PROGRESS, CHALLENGES AND PROSPECTS

THE AEC PROGRESS, CHALLENGES AND PROSPECTS THE AEC PROGRESS, CHALLENGES AND PROSPECTS Siow Yue CHIA Singapore Institute of International Affairs Conference on Future of World Trading System: Asian Perspective ADBI-WTO, Geneva 11-12 March 2013 Drivers

More information

Building an ASEAN Economic Community in the heart of East Asia By Dr Surin Pitsuwan, Secretary-General of ASEAN,

Building an ASEAN Economic Community in the heart of East Asia By Dr Surin Pitsuwan, Secretary-General of ASEAN, Building an ASEAN Economic Community in the heart of East Asia By Dr Surin Pitsuwan, Secretary-General of ASEAN, Excellencies Ladies and Gentlemen 1. We are witnessing today how assisted by unprecedented

More information

APEC Third Senior Officials Meeting (SOM 3) and Related Meetings Committee on Trade and Investment: Business Mobility Group

APEC Third Senior Officials Meeting (SOM 3) and Related Meetings Committee on Trade and Investment: Business Mobility Group APEC Third Senior Officials Meeting (SOM 3) and Related Meetings Committee on Trade and Investment: Business Mobility Group BMG Plenary Medan, Monday 24 June 2013 MINUTES Item No. Agreed Action/s Responsibility

More information

AGENDA ITEM 3 REPORT ON OTHER ASEM MEETINGS RELATED TO THE PWG MEETING

AGENDA ITEM 3 REPORT ON OTHER ASEM MEETINGS RELATED TO THE PWG MEETING THE 8 TH ASEM PROCEDURES WORKING GROUP MEETING INTRODUCTION The 8 th Meeting of the Asia-Europe Meeting (ASEM) Procedures Working Group (PWG) was held on 27-28 April 2005 in Singapore and chaired by Ms

More information

ASIA PACIFIC LABOUR NETWORK (APLN) TWELFTH CONFERENCE OF THE ASIA PACIFIC LABOUR NETWORK (APLN) (Hanoi, Vietnam, 9-10 November 2006)

ASIA PACIFIC LABOUR NETWORK (APLN) TWELFTH CONFERENCE OF THE ASIA PACIFIC LABOUR NETWORK (APLN) (Hanoi, Vietnam, 9-10 November 2006) ASIA PACIFIC LABOUR NETWORK (APLN) TWELFTH CONFERENCE OF THE ASIA PACIFIC LABOUR NETWORK (APLN) (Hanoi, Vietnam, 9-10 November 2006) Background Document 1. This document gives a broad introduction to the

More information

Electronic SPS certification for trade facilitation. 11 November 2015 Bangkok, Thailand Maame Agyeben, Trade Facilitation Unit, ESCAP

Electronic SPS certification for trade facilitation. 11 November 2015 Bangkok, Thailand Maame Agyeben, Trade Facilitation Unit, ESCAP Electronic SPS certification for trade facilitation 11 November 2015 Bangkok, Thailand Maame Agyeben, Trade Facilitation Unit, ESCAP What is UNNExT? community of knowledge and practice to facilitate the

More information

Inclusive Growth: Challenges For The East Asia Region

Inclusive Growth: Challenges For The East Asia Region Inclusive Growth: Challenges For The East Asia Region ADFIAP International CEO Forum XI New World Makati Hotel, Makati City, Dec 8, 2015 Rogier van den Brink Lead Economist and Program Leader World Bank

More information

Youen Kim Professor Graduate School of International Studies Hanyang University

Youen Kim Professor Graduate School of International Studies Hanyang University Youen Kim Professor Graduate School of International Studies Hanyang University 1. What is Regional Integration? 2. The Process of East Asian Regional Integration and the Current Situation 3. Main Issues

More information

Background Paper: Advancing Regional Economic Integration and Quality Growth

Background Paper: Advancing Regional Economic Integration and Quality Growth 2015/ISOM/003 Session 2.2 Background Paper: Advancing Regional Economic Integration and Quality Growth Purpose: Information Submitted by: Peru Informal Senior Officials Meeting Lima, Peru 11 December 2015

More information

Asia and the Pacific Report

Asia and the Pacific Report Joint United Nations Regional Commissions Trade Facilitation and Paperless Trade Implementation Survey 2015 Asia and the Pacific Report Cross-border paperless trade Paperless trade Formalities Transparency

More information

DIGITAL TRADE. Duangthip Chomprang 2 November I 2017 Dhaka

DIGITAL TRADE. Duangthip Chomprang 2 November I 2017 Dhaka DIGITAL TRADE ASIA-PACIFIC INFORMATION SUPERHIGHWAY ( AP-IS) FIRST STEERING COMMITTEE MEETING 2017 Duangthip Chomprang 2 November I 2017 Dhaka SDG 2030 CAVEATS RELATING TO TRADE & DEVELOPMENT Universal

More information

THE THIRTEENTH APEC MINISTERIAL MEETING. Shanghai, People's Republic of China October 2001 JOINT STATEMENT

THE THIRTEENTH APEC MINISTERIAL MEETING. Shanghai, People's Republic of China October 2001 JOINT STATEMENT THE THIRTEENTH APEC MINISTERIAL MEETING Shanghai, People's Republic of China 17-18 October 2001 JOINT STATEMENT 1. Ministers from Australia; Brunei Darussalam; Canada; Chile; the People's Republic of China;

More information

SUBREGIONAL TRADING ARRANGEMENTS AMONG APEC ECONOMIES: MANAGING DIVERSITY IN THE ASIA PACIFIC

SUBREGIONAL TRADING ARRANGEMENTS AMONG APEC ECONOMIES: MANAGING DIVERSITY IN THE ASIA PACIFIC SUBREGIONAL TRADING ARRANGEMENTS AMONG APEC ECONOMIES: MANAGING DIVERSITY IN THE ASIA PACIFIC Since 1999, there has been a sharp rise of interest in new subregional trading arrangements (SRTAs) involving

More information

Electronic Communications Convention as trade facilitation legal framework

Electronic Communications Convention as trade facilitation legal framework Electronic Communications Convention as trade facilitation legal framework Jin Ho KIM Legal Expert Regional Centre for Asia and the Pacific 13 Decemeber 2016, Incheon Outline 1. and its Regional Centre

More information

12 th APEC Finance Ministers Meeting Joint Ministerial Statement

12 th APEC Finance Ministers Meeting Joint Ministerial Statement 12 th APEC Finance Ministers Meeting Joint Ministerial Statement 8-9 September 2005, Jeju, Republic of Korea I. Introduction We, the Finance Ministers of the APEC economies, convened our twelfth annual

More information

VIETNAM'S FTA AND IMPLICATION OF PARTICIPATING IN THE TPP

VIETNAM'S FTA AND IMPLICATION OF PARTICIPATING IN THE TPP VIETNAM'S FTA AND IMPLICATION OF PARTICIPATING IN THE TPP Nguyen Huy Hoang, PhD Institute for Southeast Asian Studies Vietnam Academy of Social Sciences Taipei, October 31 st, 2013 AGENDA VIETNAM INTEGRATION

More information

Chapter 9. The Political Economy of Trade Policy. Slides prepared by Thomas Bishop

Chapter 9. The Political Economy of Trade Policy. Slides prepared by Thomas Bishop Chapter 9 The Political Economy of Trade Policy Slides prepared by Thomas Bishop Preview International negotiations of trade policy and the World Trade Organization Copyright 2006 Pearson Addison-Wesley.

More information

APEC 2006 IN VIETNAM

APEC 2006 IN VIETNAM APEC 2006 IN VIETNAM By Phan Thanh Ha Central Institute for Economic Management and Nguyen Hoang Thuy Ministry of Trade Hanoi, Vietnam 2006 is a special year for Vietnam: the five-year plan for 2006-2010

More information

Outcomes & Outlook. Asia-Pacific Economic Cooperation. O&O2006_07 12/29/06 3:50 PM Page 1. Printed by

Outcomes & Outlook. Asia-Pacific Economic Cooperation. O&O2006_07 12/29/06 3:50 PM Page 1. Printed by O&O2006_07 12/29/06 3:50 PM Page 1 Printed by Asia-Pacific Economic Cooperation The APEC Secretariat 35 Heng Mui Keng Terrace, Singapore 119616 Telephone:(65) 6775-6012 Facsimile: (65) 6775-6013 Email:

More information

ASIA-PACIFIC PARLIAMENTARY FORUM (APPF) RESOLUTION APPF24/RES.17 ECONOMY, TRADE AND REGIONAL VALUE CHAINS

ASIA-PACIFIC PARLIAMENTARY FORUM (APPF) RESOLUTION APPF24/RES.17 ECONOMY, TRADE AND REGIONAL VALUE CHAINS ASIA-PACIFIC PARLIAMENTARY FORUM (APPF) 24 TH ANNUAL MEETING RESOLUTION APPF24/RES.17 ECONOMY, TRADE AND REGIONAL VALUE CHAINS (Sponsored by the Russian Federation, New Zealand, Canada, Japan, Mexico,

More information

CHINA INTERNATIONAL INBOUND TRAVEL MARKET PROFILE (2015) 2015 U.S. Travel Association. All Rights Reserved.

CHINA INTERNATIONAL INBOUND TRAVEL MARKET PROFILE (2015) 2015 U.S. Travel Association. All Rights Reserved. CHINA INTERNATIONAL INBOUND TRAVEL PROFILE (2015) 2015 U.S. Travel Association. All Rights Reserved. SUMMARY China is one of the fastest-growing inbound travel markets to the United States; it is consistently

More information

State and Prospects of the FTAs of Japan and the Asia-Pacific Region. February 2013 Kazumasa KUSAKA

State and Prospects of the FTAs of Japan and the Asia-Pacific Region. February 2013 Kazumasa KUSAKA State and Prospects of the FTAs of Japan and the Asia-Pacific Region February 2013 Kazumasa KUSAKA 1 Development of Japan s EPA/FTA Networks Took Effect/Signed 12 countries and 1 region Study/discussion

More information

ASEAN-INDIA STRATEGIC PARTNERSHIP AND DESIGN OF FUTURE REGIONAL TRADING ARCHITECTURE

ASEAN-INDIA STRATEGIC PARTNERSHIP AND DESIGN OF FUTURE REGIONAL TRADING ARCHITECTURE AIFTA ASEAN-INDIA STRATEGIC PARTNERSHIP AND DESIGN OF FUTURE REGIONAL TRADING ARCHITECTURE Agus Syarip Hidayat Economic Research Center, Indonesian Institute of Sciences (LIPI) Roundtable ASEAN-India Network

More information

Mapping Researcher Mobility. Measuring research collaboration among APEC economies

Mapping Researcher Mobility. Measuring research collaboration among APEC economies Mapping Researcher Mobility Measuring research collaboration among APEC economies APEC Human Resources Development Working Group May 2016 Mapping Researcher Mobility Measuring research collaboration among

More information

Presentation on TPP & TTIP Background and Implications. by Dr V.S. SESHADRI at Centre for WTO Studies New Delhi 3 March 2014

Presentation on TPP & TTIP Background and Implications. by Dr V.S. SESHADRI at Centre for WTO Studies New Delhi 3 March 2014 Presentation on TPP & TTIP Background and Implications by Dr V.S. SESHADRI at Centre for WTO Studies New Delhi 3 March 2014 Contents of Presentation 1. What is TPP? 2. What is TTIP? 3. How are these initiatives

More information

Background Paper for Asia Pacific Trade Facilitation Forum 2013 Session 3 ENABLING INTERNATIONAL SUPPLY CHAIN INTEGRATION USING PAPERLESS TRADE

Background Paper for Asia Pacific Trade Facilitation Forum 2013 Session 3 ENABLING INTERNATIONAL SUPPLY CHAIN INTEGRATION USING PAPERLESS TRADE Background Paper for Asia Pacific Trade Facilitation Forum 2013 Session 3 ENABLING INTERNATIONAL SUPPLY CHAIN INTEGRATION USING PAPERLESS TRADE CONTENTS 1. Introduction 2 2. Paperless Trade and Efficiency

More information

AKHILESH TRIVEDI PREPAREDNESS OF SMES TOWARDS AEC : A CASE STUDY OF TRAVEL AGENTS IN BANGKOK

AKHILESH TRIVEDI PREPAREDNESS OF SMES TOWARDS AEC : A CASE STUDY OF TRAVEL AGENTS IN BANGKOK AKHILESH TRIVEDI Faculty of Hospitality Industry, Dusit Thani College, Thailand PREPAREDNESS OF SMES TOWARDS AEC : A CASE STUDY OF TRAVEL AGENTS IN BANGKOK Abstract: This paper is a survey research conducted

More information

26 TH ANNUAL MEETING ASIA-PACIFIC PARLIAMENTARY FORUM

26 TH ANNUAL MEETING ASIA-PACIFIC PARLIAMENTARY FORUM 26 TH ANNUAL MEETING ASIA-PACIFIC PARLIAMENTARY FORUM RESOLUTION ON THE ROLE OF PARLIAMENTS IN PROMOTING SEAMLESS REGIONAL ECONOMIC INTEGRATION (Sponsored by Canada, Chile, Mexico, New Zealand and Viet

More information

IATA e-freight implementation

IATA e-freight implementation Customs perspective on IATA e-freight implementation WCO program: The pillars of WCO Customs to Customs Ensure better security against terrorism through effective risk- assessment Mutual recognition of

More information

Trade Facilitation and Single Window in Asia and the Pacific

Trade Facilitation and Single Window in Asia and the Pacific National Workshop on Establishing a Single Window in Mongolia 29 September - 1 October 2009, Ulaanbatar, Mongolia Trade Facilitation and Single Window in Asia and the Pacific Mr. Peng Bin Economic Affairs

More information

MOVEMENT OF NATURAL PERSONS

MOVEMENT OF NATURAL PERSONS Chapter 3 MOVEMENT OF NATURAL PERSONS Overview of the Rules 1. Background to the Rules (See Section II, Chapter 11 Trade in Services for Mode Four movement of natural persons under GATS) Chapters on the

More information

Principal Trade Negotiator Ministry of Economy, Trade and Industry Senior Fellow Research Institute of Economy, Trade and Industry October 19, 2011

Principal Trade Negotiator Ministry of Economy, Trade and Industry Senior Fellow Research Institute of Economy, Trade and Industry October 19, 2011 Trade patterns and global value chains in East Asia: From trade in goods to trade in tasks (IDE-JETRO/WTO joint publication) Michitaka Nakatomi Principal Trade Negotiator Ministry of Economy, Trade and

More information

Renewed Vision for APEC A Chinese perspective

Renewed Vision for APEC A Chinese perspective Renewed Vision for APEC A Chinese perspective Zhang Yunling Shen Minghui 1 Introduction The Asia-Pacific Economic Cooperation (APEC) was established in 1989. It takes the advantage of the growing interdependence

More information

2010/SOM1/EC/WKSP/004 Session 1. Starting a Business. Submitted by: World Bank

2010/SOM1/EC/WKSP/004 Session 1. Starting a Business. Submitted by: World Bank 2010/SOM1/EC/WKSP/004 Session 1 Starting a Business Submitted by: World Bank Workshop on Reducing Start-up and Establishment Time of Businesses Hiroshima, Japan 1-2 March 2010 Starting a Business : Asia

More information

List of Expected TILF Deliverables for 2018

List of Expected TILF Deliverables for 2018 2018/SOM1/028anx1 Agenda Item: 3 List of Expected TILF Deliverables for 2018 Purpose: Consideration Submitted by: CTI Chair First Senior Officials Meeting Port Moresby, Papua New Guinea 8-9 March 2018

More information

A Mid-term Stocktake of Progress Towards the Bogor Goals - Busan Roadmap to Bogor Goals -

A Mid-term Stocktake of Progress Towards the Bogor Goals - Busan Roadmap to Bogor Goals - 2005/AMM/002anx1rev1 Agenda Item: IV, V A Mid-term Stocktake of Progress Towards the Bogor Goals - Busan Roadmap to Bogor Goals - Purpose: Consideration Submitted by: SOM Chair 17 th APEC Ministerial Meeting

More information

Vietnam and the Trans-Pacific Partnership (TPP)

Vietnam and the Trans-Pacific Partnership (TPP) Vietnam and the Trans-Pacific Partnership (TPP) Michael A. Trueblood Director, Economic Growth and Governance Office Presentation for the Mansfield Foundation Workshop Hanoi, Vietnam June 10, 2016 Presentation

More information

Trade Facilitation and Paperless Trade Implementation in ASEAN. Results of the UN Global Survey 2017

Trade Facilitation and Paperless Trade Implementation in ASEAN. Results of the UN Global Survey 2017 Trade Facilitation and Paperless Trade Implementation in ASEAN Results of the UN Global Survey 2017 The Economic and Social Commission for Asia and the Pacific (ESCAP) serves as the United Nations regional

More information

DEPARTMENT OF HOMELAND SECURITY. 8 CFR Parts 103 and 235. Docket No. USCBP CBP Decision No RIN 1651-AB01

DEPARTMENT OF HOMELAND SECURITY. 8 CFR Parts 103 and 235. Docket No. USCBP CBP Decision No RIN 1651-AB01 This document is scheduled to be published in the Federal Register on 05/13/2014 and available online at http://federalregister.gov/a/2014-10767, and on FDsys.gov 9111-14 DEPARTMENT OF HOMELAND SECURITY

More information

Push and Pull Factors for Japanese Manufacturing Companies Moving Production Overseas

Push and Pull Factors for Japanese Manufacturing Companies Moving Production Overseas Push and Pull Factors for Japanese Manufacturing Companies Moving Production Overseas February 20, 2013 Tsunehiko Yanagihara Mitsubishi International Corporation/Washington Office OUTLINE 1. Hollowing-Out

More information