Author: Mun-Heng Toh, National University of Singapore

At the second East Asia Summit (EAS) held on 15 January 2007 in Cebu, the Leaders of ASEAN and six other nations (China, India, Japan, S Korea, Australia and New Zealand, agreed to launch a study on a Comprehensive Economic Partnership in East Asia (CEPEA) among EAS participants. An underlying ambition was the establishment of an ASEAN + 6 FTA.

A cross-country Study Group was formed and, after about a year, made its submission proclaiming concurrence on the three main objectives of CEPEA. It must contribute to deepening economic integration in the region, and at the same time it must help narrow development gaps in the region. Along with these two objectives, sustainable development, which will enable the region to enjoy the benefits of development in the years to come, is reckoned to be the third objective.

To achieve the above objectives of CEPEA, the Study Group recognizes the scope of CEPEA as: economic cooperation, facilitation of trade and investment, and liberalization of trade and investment. The Group also set three basic principles to be followed under CEPEA. Read more…