406:, parties to a free trade area do not maintain common external tariffs, which means they apply different customs duties, as well as other policies with respect to non-members. This feature creates the possibility of non-parties may free riding preferences under a free trade area by penetrating the market with the lowest external tariffs. Such risk necessitates the introduction of rules to determine originating goods eligible for preferences under a free trade area, a need that does not arise upon the formation of a customs union. Basically, there is a requirement for a minimum extent of processing that results in "substantial transformation" to the goods so that they can be considered originating. By defining which goods are originating in the PTA, preferential
460:(ITC) with the objectives to facilitate businesses, governments and researchers in market access issues. The database, visible via the online tool Market Access Map, includes information on tariff and non-tariff barriers in all active trade agreements, not limited to those officially notified to the WTO. It also documents data on non-preferential trade agreements (for instance, Generalized System of Preferences schemes). Up until 2019, Market Access Map has provided downloadable links to texts agreements and their rules of origin. The new version of Market Access Map forthcoming this year will provide direct web links to relevant agreement pages and connect itself to other ITC's tools, particularly the
430:, counting also non-reciprocal trade arrangements), it is important for businesses and policy-makers to keep track of their status. There are a number of depositories of free trade agreements available either at national, regional or international levels. Some significant ones include the database on Latin American free trade agreements constructed by the Latin American Integration Association (ALADI), the database maintained by the Asian Regional Integration Center (ARIC) providing information agreements of Asian countries, and the portal on the European Union's free trade negotiations and agreements.
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other regulations existing in the same signatory parties prior to the formation of the free trade area. In other words, the establishment of a free trade area to grant preferential treatment among its member is legitimate under WTO law, but the parties to a free trade area are not permitted to treat non-parties less favorably than before the area was established. A second requirement stipulated by
Article XXIV is that tariffs and other barriers to trade must be eliminated to substantially all the trade within the free trade area.
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all parties to establish and maintain identical external tariffs with regard to trade with non-parties, parties to a free trade area are not subject to this requirement. Instead, they may establish and maintain whatever tariff regime applying to imports from non-parties as deemed necessary. In a free trade area without harmonized external tariffs, to eliminate the risk of trade deflection, parties will adopt a system of preferential
31:
490:
388:. Since transactions among parties to a free trade area are relatively cheaper as compared to those with non-parties, free trade areas are conventionally found to be excludable. Now that deep trade deals will enhance regulatory harmonization and increase trade flows with non-parties, thus reduce the excludability of FTA benefits, new generation free trade areas are obtaining essential characteristics of public goods.
332:(WTO) because the preferences that parties to a free trade area exclusively grant each other go beyond their accession commitments. Although Article XXIV of the GATT allows WTO members to establish free trade areas or to adopt interim agreements necessary for the establishment thereof, there are several conditions with respect to free trade areas, or interim agreements leading to the formation of free trade areas.
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lower-cost producer outside the area to a higher-cost one inside the area. Such a shift will not benefit consumers within the free trade area as they are deprived the opportunity to purchase cheaper imported goods. However, economists find that trade diversion does not always harm aggregate national welfare: it can even improve aggregate national welfare if the volume of diverted trade is small.
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278:(FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other. If natural persons are also free to move between the countries, in addition to a free trade agreement, it would also be considered an open border. It can be considered the second stage of
418:, such differential treatment is normally provided for in the cumulation or accumulation provision. Such clause further explains the trade creation and trade diversion effects of a free trade area mentioned above, because a party to a free trade area has the incentive to use inputs originating in another party so that their products may qualify for originating status.
445:
trade agreements notified to the WTO by country or by topic (goods, services or goods and services). This database provides users with an updated list of all agreements in force, however, those not notified to the WTO may be missing. It also displays reports, tables and graphs containing statistics on these agreements, and particularly preferential tariff analysis.
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As WTO members are obliged to notify to the
Secretariat their free trade agreements, this database is constructed based on the most official source of information on free trade agreements (referred to as regional trade agreements in the WTO language). The database allows users to seek information on
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The second way in which free trade areas are considered public goods is tied to the evolving trend of them becoming "deeper". The depth of a free trade area refers to the added types of structural policies that it covers. While older trade deals are deemed "shallower" as they cover fewer areas (such
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are a special type of free trade area. All such areas have internal arrangements which parties conclude in order to liberalize and facilitate trade among themselves. The crucial difference between customs unions and free trade areas is their approach to third parties. While a customs union requires
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Firstly, duties and other regulations maintained in each of the signatory parties to a free trade area, which are applicable at the time such free trade area is formed, to the trade with non-parties to such free trade area shall not be higher or more restrictive than the corresponding duties and
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Free trade agreements forming free trade areas generally lie outside the realm of the multilateral trading system. However, WTO members must notify to the
Secretariat when they conclude new free trade agreements and in principle the texts of free trade agreements are subject to review under the
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It is noted that in qualifying for origin criteria, there is a differential treatment between inputs originating within and outside a free trade area. Normally inputs originating in one FTA party will be considered as originating in the other party if they are incorporated in the manufacturing
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Economists have made attempts to evaluate the extent to which free trade areas can be considered public goods. They firstly address one key element of free trade areas, which is the system of embedded tribunals which act as arbitrators in international trade disputes. This system as a force of
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Both trade creation and trade diversion are crucial effects found upon the establishment of a free trade area. Trade creation will cause consumption to shift from a high-cost producer to a low-cost one, and trade will thus expand. In contrast, trade diversion will lead to trade shifting from a
340:
Committee on
Regional Trade Agreements. Although a dispute arising within free trade areas is not subject to litigation at the WTO's Dispute Settlement Body, "there is no guarantee that WTO panels will abide by them and decline to exercise jurisdiction in a given case".
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distinguish between originating and non-originating goods: only the former will be entitled to preferential tariffs scheduled by the free trade area, the latter must pay MFN import duties.
308:(GATS) as an "economic integration agreement". However, in practice, the term is now widely used to refer to agreements covering not only goods but also services and even investment.
259:
464:. It is expected to become a versatile tool which assists enterprises in understanding free trade agreements and qualifying for origin requirements under these agreements.
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304:(GATT 1994) to include only trade in goods. An agreement with a similar purpose, i.e., to enhance liberalization of trade in services, is named under Article V of the
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means that a free trade area would divert trade away from more efficient suppliers outside the area towards less efficient ones within the areas. Whereas,
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implies that a free trade area creates trade which may not have otherwise existed. In all cases trade creation will raise a country's national welfare.
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At the international level, there are two important free access databases developed by international organizations for policy-makers and businesses:
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process in that other party. Sometimes, production costs arising in one party is also considered as that arising in another party. In preferential
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790:"Dispute Settlement Mechanisms Under Free Trade Agreements and the WTO: Stakes, Issues and Practical Considerations: A Question of Choice?"
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as tariffs and quotas), more recently concluded agreements address a number of other fields, from services to e-commerce and
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Since there are hundreds of free trade areas currently in force and being negotiated (about 800 according to ITC's
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clarification for existing statutes and international economic policies is affirmed within the trade treaties.
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around the World (each country colored according to the most integrated multilateral
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is the region encompassing a trade bloc whose member countries have signed a
849:"Free Trade Area and Welfare:Is A Bigger Trade Diversion More Detrimental?"
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588:. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp.
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871:"Free Lunches? WTO as Public Good, and the WTO's View of Public Goods"
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The formation of free trade areas is considered an exception to the
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954:"Customs unions and FTAs Debate with respect to EU neighbours"
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Mattoo, Aaditya; Mulabdic, Alen; Ruta, Michele (2017-10-12).
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982:"Comparative Study on Preferential Rules of Origin"
796:. @ViewBag.citationvolume (@ViewBag.citationissue).
392:Qualifying for preferences under a free trade area
1214:American States Foreign Trade Information System
1187:World Bank's Global Preferential Trade Database
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629:"Free Trade Agreements versus Customs Unions"
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1088:Regional Trade Agreements Information System
771:"The Committee on Regional Trade Agreements"
439:Regional Trade Agreements Information System
856:ETSG 2010 Lausanne Twelfh Annual Conference
456:The Market Access Map was developed by the
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558:List of multilateral free trade agreements
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715:"Most-Favored-Nation Treatment Principle"
743:"General Agreement on Tariffs and Trade"
697:"General Agreement on Trade in Services"
912:"Deep trade agreements as public goods"
808:"International Trade Theory and Policy"
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553:List of bilateral free trade agreements
1192:Latin American Integration Association
1014:Latin American Integration Association
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306:General Agreement on Trade in Services
302:General Agreement on Tariffs and Trade
875:European Journal of International Law
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834:"Trade creation and trade diversion"
344:Economic aspects of free trade areas
869:Mavroidis, Petros C. (2012-08-01).
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1209:Asian Regional Integration Center
1182:ITC's Rules of Origin Facilitator
312:Legal aspects of free trade areas
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1490:European Free Trade Association
584:Economics: Principles in Action
580:; Sheffrin, Steven M. (2003).
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1324:Complete economic integration
1250:Forms of economic integration
1066:"Negotiations and agreements"
961:EU Parliament Policy Briefing
794:@Viewbag.citationjournaltitle
650:"Rules of Origin Facilitator"
482:Business and economics portal
422:Databases on free trade areas
1366:Economic integration effects
1165:WTO's RTA Information System
300:was originally meant by the
186:Multilateral free-trade area
1463:By country / economic union
1319:Economic and monetary union
1140:Rules of Origin Facilitator
788:Todeschini-Marthe, CĂ©line.
679:"The basic rules for goods"
636:NBER Working Paper No. 5084
462:Rules of Origin Facilitator
428:Rules of Origin Facilitator
49:Economic and monetary union
42:that it participates in):
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458:International Trade Centre
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134:Customs and monetary union
1381:Theory of the second best
1266:Preferential trading area
69:Switzerland–Liechtenstein
940:Institute for Government
847:Cheong, Juyoung (2010).
612:: CS1 maint: location (
330:World Trade Organization
27:Regional trade agreement
1170:ITC's Market Access Map
1016:. ALADI. Archived from
328:(MFN) principle in the
1592:Special economic zones
627:Krueger, Anne (1995).
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1456:Free trade agreements
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396:Further information:
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1587:Economic integration
1376:Harmonisation of law
1371:Friction of distance
1276:Economic partnership
372:Free trade areas as
280:economic integration
276:free trade agreement
36:economic integration
1070:European Commission
888:10.1093/ejil/chs055
523:International trade
326:most favored nation
1281:Passport-free zone
1197:2020-12-03 at the
1175:2019-06-05 at the
1020:on 3 December 2020
814:. Steven Suvanovic
578:O'Sullivan, Arthur
352:and trade creation
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1114:Market Access Map
936:"Rules of origin"
858:– via ETSG.
812:Internationalecon
638:– via NBER.
451:Market Access Map
386:data localization
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