The World Trade Organization and the Environment

By P. K. Rao | Go to book overview
3. Association of Southeast Asian Nations (ASEAN) Free Trade Agreement (AFTA), formed in 1992 with the aim of achieving FTA by 2008, with preferential tariff on manufactured goods and regional cooperation.
4. European Free Trade Association (EFTA) formed in 1960, intended as promotion of free trade among countries that did not join the EC.
5. Canada U S Free Trade Agreement (CUSFTA), signed in 1988 to liberalize tariffs and trade and to harmonize some of the technical standards.
6. North American Free Trade Agreement (NAFTA), signed in 1992 and become operational in 1994; seeks to liberalize trade and investment flows, and side agreements accompanied covering labour and environmental protection.

Common markets
1. Gulf Cooperation Council (GCC), formed in 1981 to encourage free movement of goods and services among six middle-eastern countries all oil exporters.
2. Mercos South Cone Market (MERCOSUR), signed as a Treaty in 1991 between some of South American countries, seeks to coordinate free movement of trade in goods and services, elimination of tariff and non tariff barriers to trade, and coordinates macroeconomic policy regimes.
3. Caribbean Community (CARICOM), formed in 1973, reduced external tariffs among member countries.

Economic cooperation
1. Asia-Pacific Economic Cooperation (APEC), this forum was established in 1989 for regional trade and economic cooperation, with greater open trade goals to be attained by 2010.
2. South Asian Association for Regional Cooperation (SAARC), formed in 1985 seeks to extend greater economic and trade cooperation among the member countries Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.

Sources: Derived and revised from information based on Anderson and Blackhurst (ed.) ( 1993), de Melo and Panagariya (ed.) ( 1993), and especially Table A.1 of Lawrence ( 1996).


References

Anderson, K. and R. Blackhurst (ed.) ( 1993) Regional Integration and the Global Trading System, London: Harvester Wheatsheaf for GATT.

Bagwell, K. and R. Staiger ( 1999) "An economic theory of GATT", American Economic Review, 89.1, 215-48.

Burtless, G. ( 1995) "International trade and the rise in earnings inequality", Journal of Economic Literature, 33, 800-16.

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