Changes in trade introversion of Asian regional trade agreements as a measure of their openness to regional and global cooperation (comparative analys
Changes in trade introversion of Asian regional trade agreements as a measure of their openness to regional and global cooperation (comparative analys

Summary/Abstract: This paper is aimed at answering the question whether trade of Asian Regional Trade Agreements (RTAs): AFTA, APTA, ECO and GCC (compared to the non-Asian RTAs: EU-27, NAFTA, ANZCERTA, SADC, MERCOSUR) is inward (trade among members of RTA) or outward (trade with the rest of the world) oriented and how trade orientation changed during the period 1995–2012. In order to verify trade orientation we used a Regional Trade Introversion Index (RTII). Two fundamental conclusions stem from our analysis. Firstly, the fastest growing Asian group APTA is also the only one in the analysed sample, which trade is outward oriented. It proves its willingness to win a good position on the world market and not to concentrate only on regional trade. Secondly, economic differences among the leading developed and less developed regional blocs become smaller.

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