PECC Signature Project: FTAAP Pathways to Prosperity
AusPECC is leading a PECC Signature Project on the Free Trade Area of the Asia Pacific (the PECC FTAAP Project).
This project is guided by a high-level task force, chaired by the Hon. Dr Craig Emerson. The taskforce includes PECC representatives from Australia, Canada, Chile, New Zealand and Thailand.
About the Project
The PECC FTAAP Project is about giving more substance to the notion of an FTAAP. It is an opportunity to engage APEC economies, businesses and academics to develop a longer-term vision for trade and economic collaboration in the region. The goal is to support greater cooperation on trade and other economic issues, to build deeper understanding of the key drivers of future economic growth and welfare, and to help APEC chart a stronger, collective path to capture more fully the benefits of regional economic integration.
See the concept note on the Project here.
The Project is in its initial stages. Phase 1 runs until March 2024.
As part of the initial phase of the Project, work has begun on three topics - Trade and Climate Change, Professional Services and Mutual Recognition, and Services and Good Regulatory Practice.
Policy briefs on each topic have been commissioned to explore potential outcomes to inform an eventual FTAAP over the longer term. As well as helping to drive practice outcomes, the policy briefs serve as a conversation starter about why openness, collaboration, and integration delivers benefits to the region.
The policy briefs are due to be completed by the end of this year or early next. In the meantime, discussion papers outlining the initial scope of work have been prepared by the authors.
The following events have been held:
In May 2023, AusPECC hosted a Virtual Dialogue on “FTAAP - Charting a Pathway for Trade in a Turbulent Time.” It was the first event to discuss the PECC FTAAP Project involving all PECC members. The Dialogue explored the context in which PECC is taking forward work on FTAAP and shared perspectives among the PECC community on some of the key questions the Project seeks to address. This included: What is meant by the concept of an FTAAP and why are we revisiting the FTAAP concept now? How can PECC add value to the work on FTAAP that is already underway? What specific topic areas could the project initially focus on?
See the Dialogue agenda here
See a Background Note on the Dialogue here
See a summary of the outcomes of the Dialogue here
Watch a recording of the Dialogue here
In August 2023, an informal meeting on the project was held in Seattle USA on the margins of the APEC Senior Officials Meeting, with the assistance of NCAPEC. The meeting brought together the PECC community to discuss progress on the project and work which has begun on specific topics areas (see Papers above).
See the Meeting agenda here
See a summary of the outcomes of the meeting here
Watch a recording of the Meeting here
The Project Taskforce meets on an ad hoc basis to discuss project progress, guide outcomes and develop ideas.
The Taskforce is led by the Hon Craig Emerson (AusPECC) with representatives from Canada (CANCPEC), Chile (ChilPECC), New Zealand (NZPECC) and Thailand. Representatives from other PECC economies are welcome to join.
See here for summaries of Taskforce meetings:
AusPECC welcomes input and interest in the project from the APEC Community. Please contact us at firstname.lastname@example.org for further information.