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Trade liberalization and its eff ect on foreign trade of APEC countries (towards 30 years îf APEC’s foundation)

Author

Listed:
  • Galina Mikhailovna Kostyunina

    (Moscow State Institute of International Relations (University) MFA Russia, Moscow, Russia)

Abstract

The article analyzes the activities of the Asia-Pacific Economic Cooperation Forum in terms of the formation of a free trade zone based on the evolution from the Bogor goals to the Free trade area for Asia-Pacific (FTAAP). Completion of the goal of creation a free trade zone is scheduled for 2020. The results of trade liberalization and trade facilitation are described, including a reduction in average rates of customs duties, harmonization and elimination of certain types of non-tariff restrictions, reduction of transaction costs, simplification of administrative formalities. Trade liberalization stimulated the growth of foreign trade of APEC states, including intraregional ones, which increased its share from 57.9% to 69.5% during 1990-2017, as well as faster growth rates of foreign trade of the APEC countries compared with the growth dynamics of international trade.

Suggested Citation

  • Galina Mikhailovna Kostyunina, 2019. "Trade liberalization and its eff ect on foreign trade of APEC countries (towards 30 years îf APEC’s foundation)," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 6, pages 19-32, June.
    • Handle: RePEc:alq:rufejo:rfej_2019_06_19-32
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