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Asian Trade -Devesh

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Information about Asian Trade -Devesh
Education

Published on December 9, 2008

Author: hseved

Source: slideshare.net

Description

related to trade block in asia
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Presented by – Devesh Patidar ASIAN Trades ASIAN Trades

Content Major trade block Patterns of trade Role and impact of FTAs & RTAs Trade in goods performance Trade in services performance Role of Foreign Investment Public-private partnerships Implications

Content

Major trade block

Patterns of trade

Role and impact of FTAs & RTAs

Trade in goods performance

Trade in services performance

Role of Foreign Investment

Public-private partnerships

Implications

Trade Blocks in Asia ASEAN SAARC ASIA Pacific

ASEAN

SAARC

ASIA Pacific

ASEAN ( 8 August 1967)

SAARC ( December 8,  1985 )

ASIA Pacific ( 1980 )

1. Patterns of trade in Asia - Over 50% of trade by countries in the region is within the region - China’s role as a major exporter and importer, as well as investor looms ever larger - When seen in terms of sub-regions, however, it is clear that within South Asia, intraregional trade is much more limited (6%). India’s major markets are now in East Asia

2. Role and impact of FTAs and RTAs - Various questions were raised: does trade expand more as a result of trade agreements, or is their impact quite marginal in practice? Are they “weak and light”? - Is there such a proliferation of the noodle bowl that trade becomes more complicated and may as well revert to MFN principles? - Do trade agreement pose a threat to, or do they reinforce WTO agreements?

- Could some of them eventually be ruled as illegal by WTO rules (which are currently couched in very vague terms). - Is the way forward to strengthen an enhanced East Asian trade market on one hand, an enhanced SAARC on the other and build bridges between them. - Or is the best way forward to build the East Asian summit (EAS) initiative encompassing 50% of the world’s population and comprising potentially the largest economic bloc in the world.

- Could some of them eventually be ruled as illegal

by WTO rules (which are currently couched in very

vague terms).

- Is the way forward to strengthen an enhanced East Asian

trade market on one hand, an enhanced SAARC on the

other and build bridges between them.

- Or is the best way forward to build the East Asian summit

(EAS) initiative encompassing 50% of the world’s

population and comprising potentially the largest

economic bloc in the world.

3. Trade in goods performance - Degree of liberalization is critical. With some exceptions, East & Southeast Asia is more liberalized than South Asia. Some slowdown, but China racing ahead . - Huge contrast between China and India in respect of “ease of trading across borders” (38th and 139th in world ranking). Do more liberal economies lead to greater domestic inequalities?

- Degree of liberalization is critical. With some

exceptions, East & Southeast Asia is more

liberalized than South Asia. Some slowdown, but China racing ahead .

- Huge contrast between China and India in respect of “ease of trading across borders” (38th and 139th in world ranking). Do more liberal economies lead to greater domestic inequalities?

Other factors concern cross-border trade facilitation, which is much more inhibited within South Asia. Examples include transport restrictions, product standards, arbitrary costs (“speed payments”) - In South Asia, India is very dominant. In East Asia, China is very dominant. However political relations in South Asia inhibit more trade cooperation

Other factors concern cross-border trade facilitation, which is much more inhibited within South Asia. Examples include transport restrictions, product standards, arbitrary costs (“speed payments”)

- In South Asia, India is very dominant. In East Asia, China is very dominant. However political relations in South Asia inhibit more trade cooperation

4. Trade in services performance Services trade is dependent on the state of economic development of countries Services trade is, hither to, market driven with little contribution by regional or multilateral trade agreements Transparency and appropriate regulatory regimes has more impact on promoting services trade than pure market access commitments - Sequencing of service liberalization, bilateral versus multilateral liberalization are other issues which merit attention

Services trade is dependent on the state of economic development of countries

Services trade is, hither to, market driven with little contribution by regional or multilateral trade agreements

Transparency and appropriate regulatory regimes has more impact on promoting services trade than pure market access commitments

- Sequencing of service liberalization, bilateral versus multilateral liberalization are other issues which merit attention

5. Role of Foreign Investment - Partly as a result of more defensive investment regimes and less integrated regional markets, FDI into South Asia has been at much lower levels than in East and Southeast Asia - Outward investments - particularly in India and Pakistan - are controlled

- Partly as a result of more defensive investment regimes and less integrated regional markets, FDI into South Asia has been at much lower levels than in East and Southeast Asia

- Outward investments - particularly in India and Pakistan - are controlled

“ Without further liberalization of investment, South Asia will not benefit from industrial restructuring and more trade” - Patterns of investment in East and Southeast Asia take a more regional perspective, helping to develop region wide value chains (e.g. car manufacturing)

“ Without further liberalization of investment, South Asia will not benefit from industrial restructuring and more trade”

- Patterns of investment in East and Southeast Asia take a more regional perspective, helping to develop region wide value chains (e.g. car manufacturing)

A constructive relationship between Governments and private sector is indispensable for successful exporting - In East and Southeast Asia the relationship appears to be more constructive than in South Asia, where the private sector identifies some Government regulations as obstructive to trade 6. Public-private partnerships

A constructive relationship between Governments and private sector is indispensable for successful exporting

- In East and Southeast Asia the relationship appears to be more constructive than in South Asia, where the private sector identifies some Government regulations as obstructive to trade

- More trade facilitation (standards, documentation, rules, connectivity, etc.) and more predictability Joint development of infrastructure and power Freer movement of people across borders More cooperation among business chambers Implications

- More trade facilitation (standards, documentation, rules, connectivity, etc.) and more predictability

Joint development of infrastructure and power

Freer movement of people across borders

More cooperation among business chambers

Closer collaboration and better understanding between business and Government e.g. via trade support institutions More liberalization and state regulation in both trade and investment - Key role for Elder Brother India to play constructive role, both through SAARC and regionally

Closer collaboration and better understanding between business and Government e.g. via trade support institutions

More liberalization and state regulation in both trade and investment

- Key role for Elder Brother India to play constructive role, both through SAARC and regionally

Thank You

Thank You

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