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Economic Regionalization in the Asia-pacific

Economic Regionalization in the Asia-pacific

Challenges to Economic Cooperation

M. Dutta

This original and comprehensive book provides a unique insight into the development of economic regionalization, with special reference to the Asia-Pacific. It presents international globalization strategies from a historical perspective and then analyses the effects on the development of Asia-Pacific Economic Cooperation (APEC). Focusing on APEC itself, the author provides a detailed investigation into its organization and agenda, and thorough personal interviews with some of the most influential people who have worked for APEC.

Chapter 11: A Conversation with SUHADI MANGKUSUWONDO

M. Dutta

Subjects: asian studies, asian economics, economics and finance, asian economics, international economics


Page 122  11  A Conversation with SUHADI MANGKUSUWONDO  Q. Will you please define in your own words what APEC is?  A. APEC is a forum for trade liberalization; a forum for promoting a global kind of system by way of inducing as many countries as possible to join the liberalization of  the world trading system. Indonesia began by inviting other countries to join in its effort in this regard. APEC is to be distinguished from both the European Union and  the North American Free Trade Area.  Q. There has been some confusion about the two expressions: ‘‘free trade area” and “free trade in the area”. How do they differ?  A. The term, “free trade area”, is more or less a standard term in order to get provisions for free trade among member­countries, that is, a group of countries moving  together towards a free trade arrangement among themselves, fulfilling the sanctions under Article 24 of the General Agreement on Tariffs and Trade.  Once you fulfill all the requirements of Article 24, especially with no provision for raising trade barriers against non­members of the group, you have the FTA. Trade  liberalization privileges are only available to the members themselves.  The term “free trade in the area” has a special meaning. That is not what we had in mind when we talked about free trade in Indonesia to begin with. The concept of  free trade in the area is unique. For the member­countries, it is a move toward free trade...

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