Pacific Islands - Regional Economic Report : Embarking on a Global Voyage - Trade Liberalization and Complementary Reforms in the Pacific
This regional economic report, evaluates
the strategy that the Pacific Island Countries (PICs) have
chosen towards liberalizing their economies, and, analyzes
as well the interaction of trade liberalization with
complementary reforms in taxation, and the public sector. As
a consequence of multilateral and unilateral efforts towards
freer trade worldwide, preferential access granted to PICs
in developed country markets, is being eroded. In
particular, the report looks at the Pacific Island Countries
Trade Agreement (PICTA), viewed as a "stepping
stone" to become more competitive in global markets. It
is important to note that the formation of a preferential
trade area, as opposed to multilateral or unilateral
liberalization, is perceived as trade liberalization, but in
a gradual process, to limit disruptions, and adjustments to
their economies. However, in order for this "stepping
stone" not to become a "stumbling block," the
liberalization strategy needs to be actively pursued,
through sound policy framework, and trade facilitation.
Furthermore, the small un-diversified economies of, and very
little trade among PICs suggests very small benefits from
PICTA; yet, trade diversion which favors the more
industrially advanced members is likely to develop.
Nonetheless, the formulation of a free trade agreement
between the PICs, and Australia and New Zealand,
negotiations over reciprocal free trade agreements with the
European Union in 2002 as envisaged, and provision of a free
trade association by some PICs with the United States,
inevitably will require the widening of preferential trading
arrangements beyond PICTA, though the timing is uncertain.
It is suggested that the pace and composition of reforms -
in particular, more complete trade liberalization, and
public sector reform - will need to be calibrated to the
progress on efforts to enhance the business environment, and
increase labor, and capital mobility.
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Bibliographic Details
| Main Author: |
World Bank |
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| Language: | English
en_US |
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| Published: |
Washington, DC
2002-09-10
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| Subjects: | ECONOMIC ANALYSIS,
TRADE LIBERALIZATION,
REFORM IMPLEMENTATION,
PUBLIC SECTOR MANAGEMENT,
TAX REFORMS,
PUBLIC SECTOR DIVESTMENT,
REFORM POLICY,
PREFERENTIAL TREATMENT,
FREE TRADE AREAS,
REGIONAL TRADE AGREEMENTS,
COMPETITIVE EQUILIBRIUM,
TRADE STRUCTURE,
MARKET ACCESS,
POLICY FRAMEWORK,
TRADE FACILITATION,
ECONOMIC DIVERSIFICATION,
TRADE EXPANSION,
INTERNATIONAL TRADE,
BUSINESS ENVIRONMENT,
LABOR MARKET POLICY,
CAPITAL MOBILIZATION,
REVENUE MEASURES,
SKILLED WORKERS,
PRIVATE SECTOR PARTICIPATION,
SOCIAL COSTS ADVERSE IMPACTS,
AGRICULTURE,
AUDITS,
BENEFICIAL TRADE,
COMPETITION POLICY,
COMPLETE INTEGRATION,
COMPLETE LIBERALIZATION,
CONSUMERS,
COUNTRY MARKETS,
CUSTOMS,
DEVELOPED COUNTRIES,
DOMESTIC CONSUMERS,
DOMESTIC FIRMS,
DOMESTIC MARKETS,
ECONOMIC COOPERATION,
ECONOMIC EFFICIENCY,
ECONOMIC IMPACT,
ECONOMIC PARTNERSHIP AGREEMENT,
ECONOMIC PARTNERSHIP AGREEMENTS,
ECONOMIC POLICY,
ECONOMIC RELATIONS,
ECONOMIES OF SCALE,
EXPANDING TRADE,
EXPLOITATION,
EXPORT INDUSTRIES,
EXPORTERS,
EXPORTS,
EXTERNAL TARIFFS,
EXTERNAL TRADE,
EXTERNAL TRADE BARRIERS,
FISHERIES,
FOREIGN DIRECT INVESTMENT,
FOREIGN FIRMS,
FOREIGN INVESTMENT,
FREE ACCESS,
FREE MOVEMENT OF LABOR,
FREE TRADE,
FREE TRADE AGREEMENT,
FREE TRADE AGREEMENTS,
FREER TRADE,
GDP,
GLOBAL ECONOMY,
GLOBAL MARKETS,
GLOBAL TRADE,
IMPORTING COUNTRY,
IMPORTS,
INCOME COUNTRIES,
INCOME SUPPORT PROGRAMS,
INTERNAL TARIFFS,
INTERNAL TRADE,
INTERNAL TRADE BARRIERS,
LABOR CONDITIONS,
LABOR MARKET,
LABOR MARKETS,
LABOR MOBILITY,
LABOR MOVEMENT,
LEGISLATION,
LOCAL LABOR,
MEMBER COUNTRIES,
MINIMUM WAGES,
MULTILATERAL INITIATIVES,
MULTILATERAL LIBERALIZATION,
NATIONAL INCOME,
OPEN TRADE,
PER CAPITA INCOMES,
POLICY MAKERS,
POLICY REFORMS,
PREFERENTIAL ACCESS,
PREFERENTIAL LIBERALIZATION,
PREFERENTIAL REMOVAL,
PREFERENTIAL TRADE,
PREFERENTIAL TRADE AREA,
PREFERENTIAL TRADE ARRANGEMENT,
PREFERENTIAL TRADE LIBERALIZATION,
PREFERENTIAL TRADING,
PREFERENTIAL TRADING ARRANGEMENTS,
PRIVATE ENTITIES,
PRIVATE SECTOR,
PRODUCERS,
PRODUCT MARKETS,
PRODUCT STANDARDS,
PRODUCTIVITY,
PROPERTY RIGHTS,
PUBLIC EXPENDITURE,
PUBLIC SECTOR,
REDUCING TRADE BARRIERS,
REDUCTION IN TARIFFS,
REFORM PROGRAMS,
REGIONAL INTEGRATION,
REGIONAL MARKET,
REGIONAL TRADE,
REGIONAL TRADE AGREEMENT,
REVENUE LOSS,
RULES OF ORIGIN,
SOCIAL COSTS,
TARIFF BARRIERS,
TARIFF DIVERSION,
TARIFF RATES,
TARIFF REDUCTIONS,
TARIFF REVENUE,
TARIFF REVENUES,
TAX POLICIES,
TAX RATES,
TAX REFORM,
TAX REVENUE,
TAX REVENUES,
TAX SYSTEM,
TAX SYSTEMS,
TAXATION,
TECHNICAL ASSISTANCE,
TECHNICAL STANDARDS,
TECHNOLOGY TRANSFER,
TERMS OF TRADE,
TOURISM,
TRADE AGREEMENT,
TRADE BARRIERS,
TRADE DIVERSION,
TRADE FACILITATION MEASURES,
TRADE MORE,
TRADE REFORM,
TRADE REGIME,
TRADE REGIMES,
TRADE RELATIONS,
TRADE TAXES,
TRADING BLOCS,
TRADING PARTNERS,
TRADING PATTERNS,
TRANSACTION COSTS,
UNEMPLOYMENT,
UNILATERAL EFFORTS,
VALUE ADDED,
WAGE RATE,
WELFARE GAINS,
WORLD ECONOMY,
WORLD TRADE,
WORLD TRADE ORGANIZATION,
WTO, |
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| Online Access: | http://documents.worldbank.org/curated/en/2002/09/2004284/pacific-islands-regional-economic-report-embarking-global-voyage-trade-liberalization-complementary-reforms-pacific
https://hdl.handle.net/10986/15362
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