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Titanic FTAs

Author

Listed:
  • Rajesh Chadha
  • Devender Pratap

    (Rajesh Chadha is Senior Fellow and Devender Pratap is Associate Fellow, NCAER, New Delhi, India.)

Abstract

There seems to be no conclusive note on strengthening multilateralism except for the lip service generally paid by the World Trade Organization (WTO) members during their meetings, only to go back and get increasingly involved in their respective regional pursuits. The success of the Doha Development Agenda (DDA) in the Hong Kong Ministerial is crucial for the future growth of the developing countries as well as for good future economic prospects for the developed countries. In case the Asian developing countries would like to adopt a dual strategy of mix of regionalism and multilateralism, they need to adopt a careful approach while treading this path. Small and narrow regional trade agreements (RTAs) can be costly as well as trade diverting. Larger and broader RTAs may be a better option. A Pan-Asian Free Trade Agreement (PAFTA) may be an appropriate response to the Enlarged European Union (EEU) and the Free Trade Area of the Americas (FTAA). Open regionalism through autonomous liberalisation within a pre-fixed period of time is a better option for PAFTA than preferential trade liberalisation.

Suggested Citation

  • Rajesh Chadha & Devender Pratap, 2007. "Titanic FTAs," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 1(1), pages 23-45, March.
    • Handle: RePEc:sae:mareco:v:1:y:2007:i:1:p:23-45
    DOI: 10.1177/097380100600100102
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    References listed on IDEAS

    as
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    Cited by:

    1. Jayatilleke S. Bandara & Wusheng Yu, 2007. "Agricultural trade liberalization in the Asia-Pacific region with specific reference to preferential trade agreements - scenario and impact analysis," STUDIES IN TRADE AND INVESTMENT, in: Studies in Trade and Investment - AGRICULTURAL TRADE - PLANTING THE SEEDS OF REGIONAL LIBERALIZATION IN ASIA, volume 60, pages 131-162, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).

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    More about this item

    Keywords

    Economic Integration; Computable General Equilibrium Models; Trade Policy; JEL Classification: F15; JEL Classification: D58; JEL Classification: O24;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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