Free trade agreements in Asia
In Asia there are several Trade Agreements (Free trade agreements, Economic Partnership ...), both
regional and extra-regional:
- Intra-regionals: ASEAN, SAARC, BIMSTEC, SAFTA, EurAsEC, ECO ...
- Extra-regionals: TPP, APEC, Agreements with the European Union ...
- Bilaterals intra-regional: FTA China - ASEAN FTA India - Korea ...
Bilaterals extra-regional: FTA China - Chile, Mexico FTA - Japan ...
Furthermore, each Asian country can have Free trade agreements with 3th
countries. For example, Singapore has FTAs with Peru, Panama, Australia, China,
Korea, EFTA, USA, Japan, Jordan, New Zealand and India, and is member of the Trans-Pacific Strategic Economic Partnership Agreement (TPP).
A company wishing to do business in Asia should to know all these
agreements in force for all target markets in the region.
The Master Doing business in Asia includes the following Free trade agreements and
institutions related to foreign trade in the region.
If the country of the exporter (or importer):
a) Has FTAs in force with some Asian country:
The exporter should take advantages of the agreement (tariff reductions, Rules and certificate of Origin, technical standards, investment, Intellectual Property Rights (IPR), public
procurement, trade in services ...). But also need to know if other countries
may have agreements in force with one of these countries.
b) Has no agreement in force with any Asian country:
One possible scenario is that another country (or region) can have some
agreement in force with Asian countries. Then, the exporter has a disadvantage.
All these factors are essential to design and adapt the International marketing strategy for each target market in Asia.
For example, an Argentinean company wishing to export to Singapore would be
at a disadvantage with a Peruvian, Panamanian or Chinese company, as both Peru,
Panama and China have a FTA / Trade Agreement in force with Singapore, and the Peruvian, Panamanian or Chinese company have all the advantages inherent to the FTA (although each FTA may vary in content). The Argentinean company should
consider this factor in its export strategy to the region.
Master business in Asia:
Organizations - China - India - Southeast Asia - ASEAN - East and South Asia - Central Asia - Free trade agreements