Free trade agreements in the Asia-Pacific a decade on: evaluating the past, looking to the future

Abstract

This paper charts the growth and patterns of free trade agreement (FTA) activity in the Asia-Pacific, discussing the extent to which there has been evolution and learning in FTA practice among Asia-Pacific states, with attention to the most notable trends in technical policy content and the different ideational approaches to formulating agreements. This sets the broad context for considerations of the current and likely future paths of FTA convergence, harmonization, and transformation in the Asia-Pacific. It is argued that new options for economically rational and politically feasible bilateral FTA partnerships within the Asia-Pacific region are running out. One response has been to explore more seriously options for forming wider plurilateral and regional agreements within the Asia-Pacific. However, a number of constraints and hindrances will work against such FTA convergence and harmonization. The longer term transformation of existing, mostly bilateral FTAs into different or expanded types of agreement has stronger prospects.

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