The objective of a free trade agreement (FTA) is not to bring about a balance in trade, but to workout a ‘win-win’ situation for both producers and consumers inFTA member countries. In doing so, there can be instances where the trade deficit increases for one partner.
The role of ICT in implementation of the WTO Trade Facilitation Agreement: some preliminary reflections
This policy brief aims to highlight just some of the ways that Information and Communications Technologies (ICT) will almost inevitably play a role in helping WTO Members implement their commitments under the WTO Trade Facilitation Agreement (TFA).
Using CGE modelling for Thailand`s policymaking in the context of regionalism and other trade policy options
Given the experience of Asia-Pacific economies it is difficult to deny the powerful transformative effect of integration into the global economy. Indeed, it is largely the success of the Asian Tigers that led to the emergence of the concept of export-led growth, and more recently, the growing prevalence of production through Global Value Chains has pointed towards a new paradigm for pursuing structural transformation through international integration.
International trade is widely acknowledged as a positive force in the creation of economic value and in the advancement of global development efforts and poverty-reduction initiatives. Imperfections and inadequacies in the system of global commerce aside for the moment, it is correct to consider trade to be one of the few truly global drivers of economic activity, and, as was illustrated during the global crisis, one area where national and international policy levers can be effective and highly impactful...
This policy brief reviews the key drivers behind the successful catch - up through a comparative analysis of Republic of Korea and Brazil. These two economies represent an interesting case in that until the 1980s, the GDP of Brazil was higher than that of Republic of Korea. Thereafter, the two economies took different paths, with Brazil becoming stuck in so - called “middle - income trap” and Republic of Korea making a significant progress.