Regional Trade Integration and WTO Accession: Which is the Right Sequencing? An Application to the CIS
International Monetary Fund, 2005 - Commonwealth of Independent States - 26 pages
This paper analyzes the appropriate sequencing between accession to the World Trade Organization (WTO) and the implementation of the Eurasian Economic Community (EAEC) customs union and whether the latter facilitates or delays WTO accession for some member countries of the Commonwealth of Independent States (CIS). If EAEC members pursue a coordinated approach toward WTO accession, this may cause delays that benefit some countries at the expense of others. The paper simulates the welfare effects resulting from the two sequencing alternatives (customs union and WTO or the reverse). The results show that, from a consumer surplus standpoint, it would be preferable to join the WTO ahead of the EAEC customs union. This paper does not attempt to assess the welfare implications of joining the EAEC as a political and economic entity, but only the welfare implications resulting from the implementation of the EAEC customs union.
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adopting the EAEC Agreement on Partnership Armenia Azerbaijan bargaining power Belarus Change in tariff CIS countries CIS members Common Economic Space common external tariff consumer surplus customs union commitments Customs Union Implementation customs union members customs union membership EAEC common external EAEC countries EAEC customs union EAEC members EAEC rate EAEC tariff schedule EAECi envisaged Eurasian Economic Community Georgia harmonization Impact on Welfare implementing the EAEC initial joining the EAEC joining the WTO Kazakhstan Kyrgyz Republic Lissovolik member countries MFN tariff Moldova multilateral liberalization Ongoing negotiations prior to WTO protectionist rate of protection Regional Cooperation regional trade agreements regional trade integration Rest ROWi Russian Federation second scenario sequencing between WTO sequencing paths Shanghai Cooperation Organization Tajikistan tariff lines tariff revenues terms of accession trade diversion trade protection Turkmenistan U.S. dollars Ukraine Uzbekistan welfare effects welfare implications WTO accession process WTO and customs WTO commitments WTO member WTO membership