Preferential Trading in South Asia

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dc.creatorBaysan, Tercan
dc.creatorPanagariya, Arvind
dc.creatorPitigala, Nihal
dc.date2012-06-22T19:07:22Z
dc.date2012-06-22T19:07:22Z
dc.date2006-01
dc.date.accessioned2026-07-01T01:29:23Z
dc.descriptionThe authors examine the economic case for the South Asia Free Trade Area (SAFTA) Agreement signed on January 6, 2004 by India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and the Maldives. They start with a detailed analysis of the preferential trading arrangements in South Asia to look at the region's experience to date and to draw lessons. Specifically, they examine the most effective free trade area in existence-the India-Sri Lanka Free Trade Area-and evaluate the developments under the South Asian Preferential Trade Area (SAPTA). The authors conclude that, considered in isolation, the economic case for SAFTA is weak. When compared with the rest of the world, the region is tiny both in terms of economic size as measured by GDP (and per capita incomes) and the share in world trade. It is argued that these facts make it unlikely that trade diversion would be dominant as a result of SAFTA. This point is reinforced by the presence of high levels of protection in the region and the tendency of the member countries to establish highly restrictive "sectoral exceptions and sensitive lists" and stringent "rules of origin." The authors argue that the SAFTA makes sense only in the context of a much broader strategy of creating a larger preferential trade area in the region that specifically would encompass China and the member nations of the Association of South East Asian Nations. In turn, the case for the latter is strategic: the pursuit of regionalism in the Americas and Europe has created increasing discrimination against Asian exports to those regions, which must inevitably affect the region's terms of trade adversely. An Asian bloc could be a potential instrument of changing incentives for the trade blocs in the Americas and Europe and forcing multilateral freeing of trade. Assuming that the SAFTA Agreement is here to stay, the authors suggest steps to ensure that the Agreement can be made more effective in promoting intra-regional trade, while minimizing the likely trade-diversion costs and maximizing the potential benefits.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2006/01/6541034/preferential-trading-south-asia
dc.identifierhttps://hdl.handle.net/10986/8822
dc.identifierhttps://doi.org/10.1596/1813-9450-3813
dc.identifier.urihttp://hdl.handle.net/123456789/418547
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 3813
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCORD
dc.subjectAD VALOREM
dc.subjectAGRICULTURE
dc.subjectANTI-TRADE
dc.subjectAPPAREL
dc.subjectAPPAREL EXPORTS
dc.subjectAPPAREL PRODUCTS
dc.subjectBILATERAL AGREEMENTS
dc.subjectBILATERAL IMPORTS
dc.subjectBILATERAL INITIATIVES
dc.subjectBILATERAL TRADE
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCONCESSIONS
dc.subjectCUSTOMS
dc.subjectCUSTOMS CLASSIFICATION
dc.subjectCUSTOMS DUTIES
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDIFFERENTIAL TREATMENT
dc.subjectDUTY-FREE ACCESS
dc.subjectECONOMIC COMMUNITY
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC SIZE
dc.subjectECONOMIC UNION
dc.subjectECONOMIC WELFARE
dc.subjectEXPANSION OF TRADE
dc.subjectEXPORTING COUNTRY
dc.subjectEXPORTS
dc.subjectEXTERNAL LIBERALIZATION
dc.subjectEXTRA-REGIONAL TRADE
dc.subjectFREE ACCESS
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFREE TRADE AREA
dc.subjectGDP
dc.subjectHARMONIZATION
dc.subjectIMPACT OF TRADE
dc.subjectIMPORT DUTIES
dc.subjectIMPORT TARIFFS
dc.subjectIMPORT VALUE
dc.subjectIMPORT-SUBSTITUTION POLICIES
dc.subjectIMPORTED INPUTS
dc.subjectIMPORTING COUNTRIES
dc.subjectIMPORTING COUNTRY
dc.subjectINDIRECT TAXES
dc.subjectINDUSTRIALIZATION
dc.subjectINTERMEDIATE INPUTS
dc.subjectINTERNAL LIBERALIZATION
dc.subjectINTERNATIONAL TRADE
dc.subjectINTRA-REGIONAL IMPORTS
dc.subjectINTRA-REGIONAL TRADE
dc.subjectINTRAREGIONAL TRADE
dc.subjectLDCS
dc.subjectLIBERALIZING TRADE
dc.subjectLOCAL CONTENT
dc.subjectLOCAL INPUTS
dc.subjectMEMBER COUNTRIES
dc.subjectMEMBER COUNTRY
dc.subjectMEMBER STATE
dc.subjectMEMBER STATES
dc.subjectMFN TARIFFS
dc.subjectMINISTERIAL MEETING
dc.subjectMOST FAVORED NATION
dc.subjectMULTILATERAL CONTEXT
dc.subjectNONDISCRIMINATORY LIBERALIZATION
dc.subjectOPEN TRADE
dc.subjectPARTNER COUNTRIES
dc.subjectPARTNER COUNTRY
dc.subjectPER CAPITA INCOMES
dc.subjectPOLICY MAKERS
dc.subjectPOLICY RESEARCH
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL FACTORS
dc.subjectPOTENTIAL BENEFITS
dc.subjectPREFERENTIAL BASIS
dc.subjectPREFERENTIAL TARIFF
dc.subjectPREFERENTIAL TARIFFS
dc.subjectPREFERENTIAL TRADE
dc.subjectPREFERENTIAL TRADE AGREEMENTS
dc.subjectPREFERENTIAL TRADE AREA
dc.subjectPREFERENTIAL TRADE ARRANGEMENTS
dc.subjectPREFERENTIAL TRADING
dc.subjectPREFERENTIAL TRADING ARRANGEMENTS
dc.subjectPREFERENTIAL TREATMENT
dc.subjectPRICE EFFECTS
dc.subjectPRICE REDUCTIONS
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCTION STRUCTURE
dc.subjectPROTECTION LEVELS
dc.subjectQUANTITATIVE RESTRICTIONS
dc.subjectQUOTA IMPORTS
dc.subjectREGIONAL ARRANGEMENT
dc.subjectREGIONAL COOPERATION
dc.subjectREGIONAL PARTNERS
dc.subjectREGIONAL TRADE
dc.subjectREGIONALISM
dc.subjectRULES OF ORIGIN
dc.subjectSOUTH ASIAN
dc.subjectTARIFF CONCESSIONS
dc.subjectTARIFF LINES
dc.subjectTARIFF PREFERENCES
dc.subjectTARIFF RATE
dc.subjectTARIFF RATE QUOTA
dc.subjectTARIFF RATES
dc.subjectTARIFF REVENUE
dc.subjectTARIFF-RATE QUOTA
dc.subjectTERMS OF TRADE
dc.subjectTRADE AGREEMENT
dc.subjectTRADE AGREEMENTS
dc.subjectTRADE BARRIERS
dc.subjectTRADE BLOCS
dc.subjectTRADE CREATION
dc.subjectTRADE DEFLECTION
dc.subjectTRADE DIVERSION
dc.subjectTRADE EXPANSION
dc.subjectTRADE FACILITATION
dc.subjectTRADE FLOWS
dc.subjectTRADE MORE
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE POLICIES
dc.subjectTRADE PREFERENCES
dc.subjectTRADE REGIME
dc.subjectTRADE REGIMES
dc.subjectTRADE RELATIONS
dc.subjectUNILATERAL LIBERALIZATION
dc.subjectUNILATERAL TRADE
dc.subjectUNILATERAL TRADE LIBERALIZATION
dc.subjectVOLUME OF TRADE
dc.subjectWORLD MARKETS
dc.subjectWORLD PRICE
dc.subjectWORLD TRADE
dc.subjectWTO
dc.subjectZERO TARIFFS
dc.titlePreferential Trading in South Asia

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