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Preferential trading is one of the mildest forms of an
integrative arrangement. Under the arrangement, the Contracting States
(CS) offer a preferential margin with respect to trade barriers in
relation to their MFN rates. CS having disparate levels of development
as well as trade regimes, find this an acceptable instrument for
initiating regional trade liberalisation. Such an arrangement
nevertheless provides the building blocks towards accelerated regional
trade liberalisation culminating in a free trade area within a defined
time frame. Under a free trade area the CS eliminate all trade
restrictions on their mutual trade, while maintaining restrictions in
their trade with non-CS at a level they deem appropriate. When all CS
decide on a common external tariff, then the arrangement translates
itself in a more cohesive customs union. The arrangement translates to a
common market when all CS agree not only to allow free movement of goods
and services, but all the factors of production including capital and
labour. Finally, the most comprehensive form of an integrative
arrangement results from an economic union, which integrates national
economic policies of CS and leads to the adoption of a common currency.
The Agreement on South Asian Preferential Trading Arrangement (SAPTA),
which became operational since December 7th, 1995 thus, symbolises the
beginnings of the very first stage of an integrative arrangement among
the member countries of SAARC. The decision made at the Twelfth SAARC
Summit at Islamabad in January 2004 to launch South Asian Free Trade
Agreement (SAFTA) from January 2006 would mark the second stage of the
process of integration in the region. The main focus of this paper is to
assess the impact of SAPTA on Indo-Pak trade.

At present, the ASEAN (Association of South East Asian Nations) countries are looking for a bold new approach toward integration as a response to changing internal and external conditions. Having examined what has been accomplished in terms of trade co-operation (and the problems involved) among these countries, the paper estimates the effects of a free trade area in ASEAN. (DÜI-Sen)

Presently, ASEAN stands ready to make a major step towards economic integration. This book looks at the issues involved in moving ASEAN towards a free trade area. It examines some indicators of gains and costs of integration and presents two quantitative analyses of the potential effects of integration on growth and trade in the region. The first, a partial equilibrium analysis, provides a disaggregated view of changes in production and trade patterns that could occur with integration. The second, a macroeconometric analysis, is able to capture general equilibrium effects and identifies the effects of integration on overall economic growth. These two analyses represent the first systematic, quantitative studies of intra-ASEAN trade

Pekka Kormonen examines the nature of Japan's economic rise in relation to other nations in the Pacific area. With the P̀acific Century' nearly upon us, this work will be of interest to all those studying Pacific economies.

On March 21, 2018, the African Continental Free Trade Agreement was signed in Kigali, Rwanda by an overwhelming majority of African states. This Agreement, which was designed to create a free-trade area across the African continent, came into force on May 30, 2019, following its ratification by twenty-two African states as provided for in the agreement. The resultant free-trade area is intended to integrate African markets, stimulate industrialization, and engender the economic transformation of the continent through the promotion of free movement of persons, capital, goods, and services across the continent. This article discusses the key challenges facing the new free-trade zone and the prospects of the trade zone for African industrialization and economic development in the twenty-first century.

This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1971