The Asian perspective on SMEs in international economic law: Opportunities and challenges arising from the TPP

• Main Author: WANG, Heng
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: TPP; SMEs; opportunities; challenges; implications; regulatory environment; mega FTA; Asian Studies; Entrepreneurial and Small Business Operations; International Trade Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/4491; https://ink.library.smu.edu.sg/context/sol_research/article/6449/viewcontent/Asian_Perspective_on_SMEs_in_IEL_av.pdf
• Institution: Singapore Management University

The Trans-Pacific Partnership (TPP) is likely to have profound implications for small and medium-sized enterprises (SMEs) within and beyond the free trade area. The key question will be analysed: what are the challenges and opportunities that the TPP hold for SMEs? It is argued that, first, the key benefits the TPP can be expected to bring for SMEs are enhanced market liberalization and a more predictable regulatory environment. Second, the TPP poses serious challenges for SMEs (eg insufficiency of the opportunities to SMEs, the complexity of rules, difficulties in rule interpretation and implementation, and remaining regulatory differences), but different types of SMEs will face very different problems. Third, the TPP, if properly managed, should bring more opportunities than challenges to SMEs. Finally, opportunities and challenges to SMEs under the TPP may not always be the same as those under bilateral FTAs given the unique nature of this mega FTA.