2025-01-10-Escap-2024-2025年亚太地区优惠贸易协定趋势与发展_31页_2mb

Summary of ASIA-PACIFIC TRADE AND INVESTMENT TRENDS 2024/2025

Core Content

The Asia-Pacific region remains the largest contributor to the global network of Preferential Trade Agreements (PTAs), with nearly 60% of all PTAs in force worldwide. These agreements are becoming more comprehensive, covering a broader range of policy areas, including digital trade and sustainable development, and are increasingly bilateral in nature.

Main Points

• Growth and Complexity of PTAs:
  As of December 2024, the Asia-Pacific region has 374 PTAs with at least one party in the region, of which 229 are in force, 27 are signed and pending ratification, and 100 are under negotiation. The "noodle bowl" of PTAs is growing more complex, with an increasing number of bilateral agreements and plurilateral frameworks.

• Expansion of Multilateral and Plurilateral Agreements:
  The Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are the most prominent plurilateral trade agreements. RCEP, representing 30% of global GDP, has seen new accession requests from Chile, Sri Lanka, and Hong Kong, China. The CPTPP has expanded to include the United Kingdom, marking its first non-Pacific member.

• Scope Broadening:
  Trade agreements are moving beyond traditional goods and tariffs to include services, investment, and non-trade issues such as sustainability, digital trade, labor, environment, and SMEs. Over 50% of the signed and enforced PTAs include provisions on trade facilitation and customs cooperation, with increasing focus on digital and environmental provisions.

• Digital Trade and Sustainability:
  Digital Trade Agreements (DTAs) and Digital Economy Agreements (DEAs) are emerging as new types of PTAs, focusing on digital economy issues like data privacy, cross-border data flows, and cybersecurity. The Asia-Pacific region is a leader in these agreements, with South-East Asia, East and North-East Asia, and the Pacific leading the way. The Green Economy Agreement (GEA) and the Agreement on Climate Change, Trade, and Sustainability (ACCTS) are examples of sustainability-focused agreements that integrate trade and environmental goals.

• Regional Initiatives:
  The ASEAN Digital Economy Framework Agreement (DEFA) is expected to be finalized by 2025, aiming to establish the first comprehensive digital economy agreement in the region. It will cover digital trade, e-commerce, cybersecurity, and more, with potential to boost the region's digital economy to $2 trillion by 2030. The Indo-Pacific Economic Framework for Prosperity (IPEF), led by the United States, includes four pillars: Supply Chains, Clean Economy, Fair Economy, and Trade. It emphasizes setting economic and governance standards rather than traditional market access.

• Challenges and Opportunities:
  The growing number of PTAs raises concerns about transparency and compliance with WTO rules, as some agreements are not notified to the WTO. The WTO E-commerce Agreement, which has a stabilized text, could serve as a foundation for future DTAs and DEAs. However, its inclusion in the WTO legal framework faces challenges due to the need for consensus. BRICS is also expanding, with new members from the Global South, but its lack of a formal structure creates uncertainty about its effectiveness in shaping global economic governance.

Key Information

• PTA Statistics (2024):

  • 374 PTAs in the Asia-Pacific region (229 in force, 27 signed, 100 under negotiation).
  • 8 new PTAs signed and 11 new negotiations launched in 2024.
  • 55% of PTAs in force involve economies outside the Asia-Pacific.
  • 79% of PTAs are bilateral in nature.

• Digital Trade Provisions:

  • 120 PTAs have digital trade provisions.
  • 8 stand-alone DTAs/DEAs were signed in 2024.
  • The Digital Economy Partnership Agreement (DEPA) includes 16 modules, enabling flexible participation.
  • The WTO E-commerce Agreement has a stabilized text, with 80 members agreeing, but some key participants remain concerned.

• Sustainable Development Provisions:

  • 150 PTAs have sustainable development-related provisions.
  • The GEA and ACCTS are notable examples, integrating trade, investment, and sustainability.
  • The ACCTS includes over 300 environmental goods and more than 100 environmental services.

• New Regional Initiatives:

  • The IPEF includes four subject agreements, with three already signed and in force.
  • The DEFA aims to harmonize digital trade rules in ASEAN.
  • BRICS has expanded significantly, with new members from the Global South.

Conclusion

The Asia-Pacific region is at the forefront of shaping the future of trade and investment through a growing number of PTAs, with a focus on digital trade and sustainability. While these agreements offer new opportunities for economic integration and cooperation, they also present challenges in terms of transparency, inclusivity, and the need for a unified framework. Regional initiatives such as IPEF, DEFA, and BRICS are playing a key role in this evolving landscape, contributing to a more diversified and dynamic trade environment.