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The Impact of ASEAN’S FTAs with China, Japan, Korea and Australia-New Zealand: An Analysis in GTAP Framework

Nugraheni, Reninta Dewi and Widodo, Tri (2018): The Impact of ASEAN’S FTAs with China, Japan, Korea and Australia-New Zealand: An Analysis in GTAP Framework.

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Abstract

ASEAN is one of dynamic and fast growing economic regionalism. ASEAN has shown rapid growth in trade liberalization with the free trade agreement (FTA), established with China Korea, Japan, Australia and New Zealand. The aim of this research is to investigate the effects of the free trade agreement between ASEAN-China (ACFTA), ASEAN-Korea (AKFTA), ASEAN-Japan (AJCEP), ASEAN-Australia-New Zealand (AANZFTA). The Computable General Equilibrium (CGE) model and the Global Trade Analysis Project (GTAP) database version 9 are applied with the partial and full liberalization scenarios. The GTAP simulations results shows that ACFTA provides a greater positive impact than the other FTAs for each region. In the long run, the welfare of each region has increased, the trade balance has decreased, the volume of exports and imports has increased.

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