TRADE IN SERVICES AS A DRIVER OF INTEGRATION
EXPERIENCE IN LIBERALIZING THIS TYPE OF TRADE IN ASEAN O. V. BIRYUKOVA Candidate of Economic Sciences, National Research University-Higher School of Economics Keywords: trade liberalization, economic integration, foreign direct investment, regional trade agreements Trade in services is a relatively young segment of international foreign economic activity; in any case, it emerged much later than trade in goods. Significant progress in this sector has been achieved in the last two decades by the countries of Southeast Asia-members of the Association of Southeast Asian Nations (ASEAN). It is no exaggeration to say that today the ASEAN member States have become an example of a very successful model of liberalizing trade in services among developing countries. At the same time, the scope and depth of commitments for individual service sectors go beyond the commitments recorded by these countries in the World Trade Organization. The liberalization of trade in services, which has been particularly intensive here since the 1990s, was, in fact, part of a larger process of broad economic integration in the region that unfolded at the same time. This process included the expansion of foreign direct investment (FDI) in the economies of ASEAN member States, the harmonization of rules and standards governing foreign trade, and the protection of intellectual property rights. In these countries, the concept of giving special importance to regional trade agreements (RTAs) has been recognized. It was argued that they are best able to support the growth of mutually beneficial trade between countries and mutual investment. These agreements should provide for the reduction of cross-border barriers, simplification of foreign trade procedures and ensuring FDI, as well as mutually agreed efforts between countries to harmonize relevant legislation [1]. The practical implementation of the provisions of this concept, in essence, meant the liberalization of foreign trade in goods within the fr ... Read more
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Vietnam Online · 201 days ago 0 116
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Hanoi, Vietnam
07.11.2023 (201 days ago)
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