Assessing the trade impacts of the ASEAN +6 FTA

April 1, 2014

This paper assesses the potential trade impacts of the expansion of the ASEAN to ASEAN+3 and ASEAN+6 on the Lao People’s Democratic Republic. It finds that bilateral exports are positively related to the overall bilateral country size and similarity in country size, but inversely related to the relative factor endowment differences, transportation costs, and import tariffs. Simulation results show that the formation of an FTA beteeen ASEAN and the Plus-6 economies can increase bilateral trade between the Lao PDR and ASEAN+6 by $1 billion, and ASEAN+3 by $981 million.

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Topics: ASSOCIATION OF SOUTHEAST ASIAN NATIONS (ASEAN) REGIONALISM

Regions: ASIA-PACIFIC

Authors: SITHANONXAY SUVANNAPHAKDY HSIAO CHINK TANG ALISA DICAPRIO

Publishing Institution: ASIAN DEVELOPMENT BANK

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