FTAAPFree Trade Area of the Asia Pacific
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As a result, the outcome of these two agreements will inevitably have a significant impact on the FTAAP process, either or both of which could lay the foundation for the creation of a trade agreement itself.The US did not initiate TPP, but it has pushed TPP as a trade agreement between the Pacific Rim to form, providing the principles for regional trade in the 21st century.
FTAAP has assumed new importance for Beijing since the inception of the Trans-Pacific Partnership (TPP), which was originally promoted by the Obama administration.
At the 2014 APEC meeting in Beijing, China actively promoted the Free Trade Area of the Asia-Pacific (FTAAP) for offsetting negative influences and the impact of the US-led Trans-Pacific Partnership (TPP).
In fact, the FTAAP is a not new idea, nor was it first brought onto the table by China.
Nor is the TPP the only such pathway to the FTAAP. In Asia there is the Regional Comprehensive Economic Partnership (RCEP).
Since then, APEC leaders have endorsed various declarations laying down the incremental steps needed to realize the FTAAP. These documents include the Pathways to FTAAP, (28) which was adopted in November 2010, and the Beijing Road map for APEC's Contribution to the Realization of the FTAAP29 (Beijing Roadmap), which was released four years later.
"In contrast, the FTAAP would better serve as a foundation for regional talks," says Bergsten.
The FTAAP was originally raised in 2006 among members of APEC, which is not a formal free- trade arrangement itself.
The FTAAP has been billed in the past as an end-game for Asian trade: an amalgam of the RCEP and TPP deals.
Asia-Pacific policymakers say there are several pathways to realizing the FTAAP, including both the TPP and RCEP.
And China, after playing coy on the issue for the past several years, now openly concedes that it looks favorably on joining the FTAAP. In fact, the globalist literature is replete with references to the TPP as a "stepping stone" and a "pathway" to an FTAAP that includes the Beijing regime.
the FTA for the whole Asia-Pacific region (FTAAP), or at least inviting some additional members to the current TPP setting, would be even more beneficial to Vietnam than the TPP.