scholarly journals Impacts of regional integration and maritime transport on trade: with special reference to RCEP

2020 ◽  
Vol 5 (2) ◽  
pp. 143-158
Author(s):  
Shu-Man Chang ◽  
Yo-Yi Huang ◽  
Kuo-Chung Shang ◽  
Wei-Tzu Chiang
Keyword(s):  
East Asia ◽  
Regional Integration ◽  
Trade Agreement ◽  
Maritime Transport ◽  
Marine Transportation ◽  
Content Type ◽  
Trading Bloc ◽  
Trading Blocs ◽  
Better Than ◽  
The Eu

Purpose The proposed Regional Comprehensive Economic Partnership (RCEP) will become a large trade agreement in Asia, which has brought together the ten members of Association of Southeast Asian Nations (ASEAN) and five of the neighbors’ countries. Under the trend of globalization, the progress of the transportation industry and regional integration will increase the volume of trade, therefore maritime performance is intrinsically linked to trade. In fact, few studies have examined regional integration in the context of seaborne. This paper aims to use the cluster analysis and Poisson quasi-maximum likelihood (PQML) gravity model to investigate the trading bloc phenomenon and relation between trade and marine transportation. Design/methodology/approach In this paper, hierarchical clustering analysis and tree diagrams are used to identify functional areas characterized by bilateral trade intensity and bilateral liner shipping connectivity indices. Regional reorganizations that have occurred within Asian countries were studied. This study illustrates that these trading blocs have a positive impact on trade when maritime transport, production and trading networks have developed between regions. A gravity model was constructed using worldwide trade data for 2007, 2010 and 2015. The study considered free trade agreement (FTA)/common market (CM) of EU, RCEP and North American Free Trade Agreement (NAFTA) as regional dummies and designed a real trade bloc induction variable. In addition, the study did not use the commonly adopted ordinary least squares (OLS) estimation but used the PQML method to estimate the gravity equation to overcome the problem of a large number of zero trade observations. Preliminary results show that regional integration cannot guarantee the establishment of intraregional trade but depends on the stage of economic development and regional industrial characteristics. Findings The major findings are summarized as follows. Both liner shipping connectivity and logistics performance have significant advantages with positive coefficients in each regression results. The creation of intraregional trade is not guaranteed, depending on the characteristics of the trade and the stage of economic development of the region. For RCEP, the effect created by intra-regional trade is better than the EU. Instead, the “nominal” intra-RCEP trade was significantly below the “real” trading blocs. For RCEP, the effect created by intra-regional trade is better than that of the EU. Instead, “nominal” intra-RCEP trade is much lower than “real” trading blocs. The real trading bloc between East Asia and Taiwan clearly exists, and the bloc phenomenon is becoming more and more significant. This result shows that Taiwan’s trade flow with East Asia is higher than the normal level relationship implied by its corresponding economic and geographical conditions. Originality/value This paper focuses on new empirical work done for this study is on the potential impact on trade. Earlier studies that have discussed and/or provided estimates of the benefits to the RCEP plan from improved transport and supply chain connectivity are cited. Marine transportation performance inherently links to economies of commerce. Few studies have examined regional integration in the context of maritime transportation, which reflects the lack of a mix of trade economists and maritime logistics research in the existing literature. This paper attempts to investigate the trading bloc phenomenon formed by regional integration (such as RCEP) and the relation between trade and marine transportation. With the official entry into force of the RCEP in 2020, it will promote increased trade and demand for logistics and maritime transport services in East Asia.

ASEAN-EU ties are facing a downturn

2019 ◽  
Keyword(s):  
East Asia ◽  
Market Access ◽  
Trade Agreement ◽  
Trade Policies ◽  
South East Asia ◽  
Content Type ◽  
The United Kingdom ◽  
Trade Frictions ◽  
Asean Countries ◽  
The Eu

Subject FTA talks and trade tensions between the EU and ASEAN countries. Significance The EU is in free trade agreement (FTA) negotiations with some ASEAN states, even though talks over an ASEAN-EU FTA were paused in 2009. Separately, the EU is pressuring several South-east Asian countries with its trade policies and warnings over human rights. Impacts EU projects in South-east Asia related to sustainability and social justice could suffer reputational damage. Post-Brexit, the United Kingdom could distance itself from EU labour requirements to secure market access in South-east Asia. In the short term, ASEAN-EU trade frictions will have little impact on bilateral foreign direct investment.

East African unity will prove elusive

2017 ◽  
Keyword(s):  
Regional Integration ◽  
Bilateral Trade ◽  
Trade Agreement ◽  
Security Threats ◽  
African Union ◽  
East African ◽  
Content Type ◽  
Economic Partnership ◽  
Partnership Agreement ◽  
The Eu

Significance Earlier in February, Tanzanian President John Magufuli met with his Ugandan counterpart, Yoweri Museveni, on the sidelines of an African Union (AU) summit to discuss reviving the EU Economic Partnership Agreement (EPA) with the EAC, a contentious trade agreement dividing EAC members. Failure to agree on the trade deal is indicative of a broader trend, which has recently seen various initiatives aimed at deepening regional integration stall. Impacts Absent the EPA, Kenya will look to strike a bilateral trade deal with the EU. A collapse of the East Africa EPA increases the likelihood that the EU’s other major EPA in West Africa could succeed. Weak regional unity will complicate efforts to develop common responses to shared security threats.

scholarly journals Transatlantic trade and investment partnership (TTIP) and the spill overs effects on the Gulf – cooperation council

2017 ◽  
Vol 59 (1) ◽  
pp. 35-51
Author(s):  
Nadia Naim
Keyword(s):  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Trade Agreement ◽  
Global Trade ◽  
Content Type ◽  
Transatlantic Trade ◽  
The Usa ◽  
Trade And Investment ◽  
The Eu

Purpose The purpose of this paper is to examine the transatlantic trade and investment partnership (TTIP). The EU and the USA are negotiating the TTIP, a trade agreement that aims to remove trade barriers across different economic sectors to increase trade between the EU and the USA. The TTIP will have spill over effects on the MENA region, the GCC, Australia and the Asian sub-continent, as it raises key questions for intellectual property and international trade agreements. For instance, will the USA and EU be on an equal footing or will one triumph over the other, will third party countries like the GCC states be expected to adopt new standards. Design/methodology/approach The research design is a paper and online data collection method to find literature to date on intellectual property law development in the GCC states in relation to the three research objectives as set out above. The literature is the population, and this could prove problematic. Different databases have been used to cover all sources where data can be found. Findings As the EU-USA TTIP is aiming to conclude by the end of 2015, the GCC has an opportunity to reassess its relationship with both the EU and GCC. Up until now, the GCC was able to enter into negotiations with the EU and USA relatively independently. However, where the EU and USA can agree, there will be a harmonisation of regulations. This therefore has repercussions for the GCC. The TTIP has three main aims: to increase trade and investment through market access, increase employment and competitiveness and create a harmonised approach to global trade. To harmonise global trade, the EU and USA aim to harmonise their intellectual property rights through an intellectual property rights chapter that deals specifically with enhancing protection and recognition for geographical indications, build on TRIPS and patentability. Research limitations/implications This study is non-empirical. Originality/value The TTIP will have spill over effects for the GCC, as it has yet to finalise the EU-GCC free trade agreement and USA-GCC framework agreement. The power dynamics between the USA and EU will be a deciding factor on the intellectual property chapter in the TTIP in terms of what the provisions for intellectual property will look like and what powers will be available to investors to bring investor-state-dispute settlement claims against foreign countries.

The Evolution of APEC and ASEM: Implications of the New East Asian Bilateralism

2005 ◽  
Vol 4 (2) ◽  
pp. 233-262 ◽  
Author(s):  
Min Gyo Koo ◽  
Vinod Aggarwal
Keyword(s):  
East Asia ◽  
Global Economy ◽  
East Asian ◽  
Northeast Asia ◽  
Economic Uncertainty ◽  
Asian Countries ◽  
Trading Bloc ◽  
The Us ◽  
Market Driven ◽  
The Eu

AbstractThe traditional institutional equilibrium in East Asia—the embrace of the WTO at the multilateral level and a focus on market-driven, informal integration at the sub-multilateral level—is under heavy strain. Increasingly, East Asian countries are pursuing greater institutionalisation at the sub-multilateral level, weaving a web of preferential arrangements in response to similar strategies pursued by the US and the EU. This article examines the likely path of trading arrangements in Northeast Asia, its implications for East Asia and the future of APEC and ASEM. We propose an institutional bargaining game approach, focusing on goods, countries' individual bargaining situations and the fit with existing arrangements, and allowing an exploration of the evolution of trading arrangements in East Asia. An East Asian trading bloc has both benign and pernicious elements, depending on the ideas and beliefs held by regional actors. The contribution of a prospective East Asian bloc to APEC and ASEM primarily depends on the balance of interests between the US and the EU concerning East Asia. In view of the tremendous political and economic uncertainty in the global economy, the path to freer trade in Northeast Asia, East Asia and the world system is likely to be a bumpy one.

Brexit increases trade uncertainties in Brazil

2016 ◽  
Keyword(s):  
Negative Impact ◽  
Trade Agreement ◽  
Import Demand ◽  
Economic Effects ◽  
Political Crisis ◽  
Currency Markets ◽  
Content Type ◽  
Near Term ◽  
Severe Recession ◽  
The Eu

Subject Brexit's impact on Brazil's trade outlook. Significance The process of UK withdrawal from the EU (Brexit) will produce complex, uncertain and far-reaching economic effects. Brazil faces Brexit while undergoing a severe recession and profound political crisis. Trade has offered the only positive economic news in Brazil during 2016, owing largely to currency depreciation and depressed import demand. Impacts If Brexit reinforces the decline in Chinese growth, this will have a negative impact on Brazil's exports. Crucially, it is also likely to delay the conclusion of the free trade agreement between the EU and Mercosur. Near-term, Brexit represents an additional source of uncertainty, with increased instability in financial and currency markets.

Trump targets South-east Asia-US policy continuity

2017 ◽  
Keyword(s):  
East Asia ◽  
Trade Agreement ◽  
Vice President ◽  
The United States ◽  
The Philippines ◽  
South East Asia ◽  
Content Type ◽  
White House ◽  
East Asia Summit ◽  
Trump Administration

Subject Emerging US policy towards South-east Asia under the Trump administration. Significance On May 5, the 30th US-ASEAN Dialogue opens in Washington, to be co-chaired by US Secretary of State Rex Tillerson. This follows Vice-President Mike Pence’s visit to Indonesia of April 20-22, the first to South-east Asia by a cabinet-level official from the Trump administration. The White House used that occasion to announce that President Donald Trump will attend the APEC meeting in Vietnam and the East Asia Summit (EAS) in the Philippines in November. Impacts Trump may co-chair a US-ASEAN Summit with Philippines president on the EAS’s margins, which could improve frayed bilateral ties. Congress could frustrate any Trump administration plans to sanction countries with trade surpluses with the United States. An ASEAN-US free trade agreement is unlikely soon. Trump has invited Vietnam’s prime minister to visit Washington later, which could make Hanoi more bullish towards China.

Support for Scottish independence is growing stronger

2020 ◽  
Keyword(s):  
Prime Minister ◽  
Economic Impacts ◽  
Trade Agreement ◽  
Content Type ◽  
Uk Government ◽  
Scottish Independence ◽  
The Uk ◽  
First Time ◽  
The Eu ◽  
Sustained Increase

Significance For the first time, there is a sustained increase in support for Scottish independence. The main reasons include dislike of UK Prime Minister Boris Johnson and his cabinet north of the border, the UK government’s pursuit of a ‘hard’ Brexit and questions about its response to the COVID-19 pandemic. Impacts Soaring Scottish unemployment when the UK furlough schemes end would undermine London’s claim to be protecting Scottish jobs. Rising support for Scottish independence could prompt the UK government to seek a closer trade agreement with the EU. The UK government will be unable to conceal the economic impacts of Brexit under the economic fallout of COVID-19. A Scottish vote for independence would put huge pressure on the UK government to resign and call early elections.

Unstable politics may make trade deals uncertain

2019 ◽  
Keyword(s):  
Financial Services ◽  
Trade Agreement ◽  
National Elections ◽  
Content Type ◽  
The Us ◽  
Ideological Divergence ◽  
The Uk ◽  
Trade Deals ◽  
Trade Partners ◽  
The Eu

Subject Politics and trade talks. Significance Understanding the factors that determine how long trade negotiations take will help businesses navigate the uncertainty, as the UK government prepares to negotiate trade agreements once it leaves the EU. The Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU took seven years to finalise. Less comprehensive renegotiations of international agreements can be shorter, including the US-Mexico-Canada agreement, which took less than two years. Impacts UK sectors highly exposed to the EU or United States, including automotive and financial services, face prolonged investment uncertainty. Timing of national elections, lobbying and the ideological divergence between trade partners will determine post-Brexit trade deal talks. Continued polarisation of major economies' electorates will delay or stop other global deals, including on foreign aid and climate change.

EU-UK FTA leaves open the prospect of future conflict

2020 ◽  
Keyword(s):  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
Trade Flows ◽  
Member States ◽  
Content Type ◽  
The Eu

Significance The agreement offers zero quotas and tariffs on most goods, but there is little coverage on services while trade flows face disruption from significant non-tariff barriers. Impacts The deal will make it slightly easier to reach a UK-US free trade agreement, though strong divisions remain. The strict conditionality associated with the FTA suggests Euroscepticism will remain an important feature of UK politics. The process and costs associated with Brexit makes it less likely that Eurosceptic member states will attempt to leave the EU.

scholarly journals A Solution for Africa

2009 ◽  
Vol 2 (2) ◽  
Author(s):  
Anna Collins
Keyword(s):  
Free Trade ◽  
Regional Integration ◽  
Market Integration ◽  
Free Trade Area ◽  
Trade Agreement ◽  
The United States ◽  
Majority Voting ◽  
Regional Environment ◽  
Trade Area ◽  
The Eu

Regionalism—the efforts of a group of nations to enhance their economic, political, social, and cultural interaction—can assume various forms, including regional integration/cooperation, market integration, development integration, with the intent of accommodating the changing national, international, and regional environment. Despite the fact that to this day, attempts at integration (in particular, market integration based on the EU model) and regionalist impulses as they currently occur have been entirely unproductive throughout the African continent, regionalism continues to be regarded by African leaders as a reasonable strategy for increasing intra-regional trade and for reversing Africa’s rising marginalization in the world economy. They continue to be assured by the success of the North American Free Trade Agreement (NAFTA) and the viability of the European Union’s (EU) model for integration, which begins with a free trade area or preferential trade area and ends with complete economic integration. The EU model features a specific mode of decision making (qualified majority voting), conflict resolution mechanism (role of the European Court of Justice), budgetary arrangements (revenue collection and distribution), and citizen involvement (direct elections to the European Parliament) and takes on increasingly state-like functions. While extremely successful in integrating its constituent member state in Europe, as a model it is limited, given the unique circumstances under which it was established and promoted. As noted by Emil Kirchner: Consideration of the EU as a model for other regional integration settings might be limited, given the unique circumstances in which it was established and promoted. Born out of conflict, the EU benefited from special circumstances in its development, e.g. the Cold War, the United States guarantee and nurturing role, and the industrialised nature of the European economies, which are not found elsewhere.

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