Building toward the RCEP? Reflections on the ASEAN-China FTA

• Main Author: WANG, Heng
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2019
• Subjects: ASEAN; China; free trade agreements; Asian Studies; International Trade Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/4468; https://ink.library.smu.edu.sg/context/sol_research/article/6426/viewcontent/ssrn_3259690_sv.pdf
• Institution: Singapore Management University

Among the ASEAN’s external FTAs, the ASEAN-China Free Trade Agreement (ACFTA) is ofgreat significance to both the ASEAN and China. The ACFTA was one of the earliest trade pactsconcluded by China. It is also part of the ASEAN’s broader push toward concluding FTAs outside themultilateral trading system, in line with the proliferation of regional trade pacts. This chapter willanalyze the following questions: what is the approach of the ACFTA? What are the implications ofthe ACFTA for the the Regional Comprehensive Economic Partnership (RCEP)? What nationalimplementation issues are involved with the ASEAN? The potential implications of the AHKFTA willbe explored. The ACFTA does reflect a more flexible approach than other Chinese FTAs, and itsimplementation faces a number of challenges. It may contribute to the shaping of the RCEP.ASEAN is playing an increasingly important role in world economic governance, as evidenced by the RCEP negotiations between ASEAN and its FTA partners. The evolution of ASEAN law from the global perspective will cover a wide range of areas, including goods, services, intellectual propertly, investment and even social issues. The growing AEC will also exert current and prospective influence on the international economic legal order, including the increased attractiveness of the RCEP to other parties.