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Abstract. Pakistan-China FTA was implemented with lot of fanfare and was expected to improve Pakistani export potential and business competitiveness. However, the successive governments failed to improve local competitiveness through effective regulation resulting in (a) missed opportunity to exploit the FTA to the benefit of Pakistan and (b) a trade balance favouring only China. Keywords. International trade.JEL. F13, F40, F50.

Le concept d'assurance est fondé sur la mutualisation de risques futurs aléatoires moyennant le paiement en amont d'une contribution financière par le client (la prime d'assurance). Pour être effective, l'assurance suppose une confiance élevée de la part des clients dans la capacité des fournisseurs d'assurance (les compagnies d'assurance) à payer les dommages lorsqu'ils se matérialisent. Sinon, les clients ne payeraient pas leurs primes aux compagnies d'assurance. Pour être fiables, donc solvables, et offrir une véritable mutualisation des risques, les compagnies d'assurance sont tenues d'avoir une taille minimum et de gérer leurs réserves financières de manière appropriée. C'est la raison pour laquelle les marchés d'assurance sont fortement régulés partout dans le monde, afin de garantir autant que possible la solvabilité future des sociétés d'assurance et leur capacité à honorer leurs engagements vis-à-vis de leurs clients. Lors des opérations de commerce international, les opérateurs comptent sur les garanties d'assurance fournies par les compagnies d'assurance. Pour cette raison, le fonctionnement adéquat du marché d'assurance revêt une dimension d'intérêt public. C'est pourquoi, dans la plupart des pays, la réglementation est essentiellement prudentielle. Les Examens de politique commerciale (EPCs) récents des pays membres de l'Union économique et monétaire ouest-africaine (UEMOA) suggèrent que les restrictions d'accès au marché peuvent entraver la réglementation prudentielle du secteur, et peuvent, dans certains cas, avoir l'effet inattendu d'annuler les garanties auxquelles s'attendent les clients. Cet article explore les principales caractéristiques du marché de l'assurance en Afrique de l'Ouest, et sa réglementation. Il montre sur la base d'exemples concrets issus des EPCs l'effet sur la garantie d'assurance des politiques commerciales mises en place par plusieurs États, en particulier sur la compétitivité des fournisseurs locaux d'assurance et de leurs clients dans un monde globalisé. L'article ...

Die Erhebung zusätzlicher Zölle auf den Import von Stahl, Aluminium und Waschmaschinen ist die erste handelspolitische Entscheidung der Trump-Regierung, die sich unmittelbar auf bestehende US-Handelsströme auswirken wird. Gleichzeitig lässt sich hieran die grundlegende Wirkung von Einfuhrzöllen illustrieren. Die jüngsten Entscheidungen unterstreichen die Tendenz zu mehr Protektionismus in den USA und wecken die Befürchtung, dass dies nicht die letzten handelspolitischen Entscheidungen des US-Präsidenten sind. Sie werden letztlich sowohl der US-Wirtschaft als auch dem internationalen regelbasierten Handelssystem deutlichen Schaden zufügen. ; The decisions of the U.S. administration to levy additional duties on the import of steel, aluminium and washing machines are the fi rst policy changes by U.S. President Trump that will directly affect existing U.S. trade fl ows. These recent decisions point to a new trend towards more protectionism in the U.S. and raise the fear that similar trade policy changes, which will ultimately harm both the U.S. economy and the international rule-based trading system, will soon follow. The article analyses the economic and political consequences of the new U.S. import tariffs in the light of an increasingly restrictive U.S. trade policy.

In der EU-Handels- und Investitionspolitik gibt es viele Baustellen. Um die bestehenden und geplanten Freihandelsabkommen beurteilen zu können, werden die einzelnen Effekte detailliert aufgezeigt. Die Wirkungen der europäischen Handelspolitik sowie des neuen Protektionismus der USA werden untersucht und erläutert. ; There are many controversial and contentious aspects of the EU's trade and investment policy. To evaluate existing and forthcoming free trade agreements, the paper describes their potential economic effects. It analyses the effects of EU trade policy and of the new protectionism of the US.

The Republic of Korea (hereafter Korea) continues to promote an open-trade system via the conclusion of free trade agreements (FTAs), arguing that Korean enterprises will obtain considerable business opportunities under the FTAs the government has implemented. However, the FTAs that are currently being implemented in Korea are said to be beneficial only to some enterprises. This study presents new evidence from a survey conducted from July-August 2008 on 120 Korean firms. The paper explores critical questions regarding the utilization of FTAs, their perceived costs and benefits, perceptions of multiple rules of origin (ROOs), and policy and institutional support mechanisms for FTAs. One of the key findings is that most of the currently implemented FTAs in Korea were concluded with small- and medium-sized developing countries. Moreover, within these FTAs, the range of preferential tariffs is not very broad in scope; as such, only one out of five enterprises was found to be utilizing them. However, since the conclusion of FTAs with the United States and the European Union, Korean businesses have become very interested in utilizing those respective FTAs. The government should make efforts for early implementation of these FTAs. In the FTAs concluded by Korea, ROOs are strict and complicated. In future FTAs, a more neutral and lenient form of ROOs should be adopted.

Open Skies, in general, refers to the liberalization of aviation markets that can be pursued on a bilateral, regional, or multilateral basis. At the Association of Southeast Asian Nations (ASEAN) level, liberalization of airfreight and passenger services is targeted by December 2008. This paper seeks to examine the implication of open skies in ASEAN on the airport development strategy in Malaysia. The findings show that although Malaysia has invested substantially in overall infrastructure development, including airports, other member countries within ASEAN, notably Singapore and Thailand, have also followed a similar investment-intensive strategy to develop their international airports into airport hubs. The dream to turn Kuala Lumpur International Airport (KLIA) into a regional hub requires Malaysia to undertake several measures to overcome the competitive pressures from neighboring hubs. This includes joining a strategic global alliance group to improve the traffic feed of the national carrier. It will also require the government to accelerate the construction of the new Low Cost Carrier Terminal (LCCT) at KLIA. The strategy to build a cargo hub at Senai should be reviewed while the promotion of tourism, especially to non-ASEAN countries has to focus on a distinctive product appeal that will enable the country to differentiate its tourism products from those of regional competitors.

This paper explores the economic consequences of the enlargement of the European Union with countries from Central and Eastern Europe. We focus on integration aspects that go beyond the reduction of formal trade barriers, namely accession to the internal market and free movement of labour. The economic implications for sixteen industries in several European countries are assessed by using WorldScan, a CGE model for the world economy. The results suggest that the candidate member states will gain substantially from accession to the internal market, although some sectors in these countries will shrink. Most EU countries will experience small welfare increases. We also find that the internal market effects are large compared to the economic effects of removing formal trade barriers and migration.

We evaluate the voluntary export restraint (VER) that was initially placed on exports of automobiles from Japan in 1981. We evaluate the impact this policy had on U.S. consumer welfare, firm profits, and forgone tariff revenue from its initiation through 1990. (JEL F13)