EAFTAEast Asia Free Trade Area
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Kawai and Wignaraja (2011) suggest that an EAFTA can be achieved by first formulating a China-Japan-Korea FTA, then combining it with ASEAN+1 FTAs, and finally including Australia, India and New Zealand.
Debate between CEPEA and EAFTA which continued for over two years ended in 2011 when the ASEAN proposed to formulate ASEAN centred FTA: Regional Comprehensive Economic Partnership (RCEP).
213-15; Kawai and Wignaraja, "EAFTA or CEPEA: Which Way Forward?", op.
On an inauspicious note, the most significant proposal/recommendation that emerged from the October 31, 2001, report of the East Asia Vision Groups (58) was the proposed establishment of the East Asian Free Trade Area (EAFTA) as an integral part of the formation of an East Asian community, but the recommendation was shunted aside.
The US, Canada and Mexico have formed NAFTA (North American Free Trade Agreement) and Asian nations are working toward EAFTA, an East Asian free trade area that will include China and Japan, by 2010.
To the latter, it deferred both the evolution of APT to an EAS and the formation of an EAFTA in its final report to the APT in 2002.
Japon incluso llego a sugerir un Acuerdo de Libre Comercio de los paises del EAS (EAFTA), mientras que India apoya un Acuerdo de Libre Comercio Panasia-tico.
Since bilateral trading arrangements already exist between most of the more advanced ten countries of ASEAN and China, Japan, and South Korea, the building blocks exist for a future East Asia Free Trade Area (EAFTA).
Although at the November 2000 ASEAN Plus 3 summit, Goh Chok Tong commented that working towards the creation of an East Asian Free Trade Area (EAFTA) over the longer term would prove a valuable exercise in fostering regional cohesion between Southeast and Northeast Asia, (37) Singapore's leadership is u nlikely to advocate EAFTA's development against vocal opposition from the United States.