APEC'S Trade Liberalization and Intra-APEC Trade Analysis －To Investigate the Issue of APEC'S Evsl Initiative
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Abstract:APEC has begun a trade liberalization process among its 21 members in recent years. In 1994 the Bogor Declaration of APEC Leaders set the ambitious target of achieving free and open trade in the region by 2010 and 2020. In 1995 the Osaka Action Agenda provided a guideline for implementing policy measures to reach this target. The most recent and high profile of cooperation among APEC members has been the Early Voluntary Sectoral Liberalization Initiative （EVSL）. Although over a two year period APEC developed 15 detailed sectoral packages through the EVSL process, but the initiative was still conceptualised and developed entirely within APEC, and is only now being multilateralised in the framework of WTO. Following the Osaka Action Agenda, the purpose of this study is to suggest that some product sectors can be prioritized for tariff reduction and nontariff barrier removal for trade liberalization. These priority sectors are chosen by the following criteria: First, the liberalization of these sectors can improve the complementary benefit of entire Asia-Pacific region. Second, the adjustment costs of trade liberalization is minimized. And finally, the free-rider problem can be excluded. In addition, according to Taiwan's comparative advantage in APEC, this study identifies which product sectors will be hurt or benefited from the APEC trade liberalization program.