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Published online by Cambridge University Press: 21 October 2015
INTRODUCTION
There have been, arguably, too many regional free trade agreements (hereinafter “FTAs” or “RTAs”) in Asia. The ASEAN-China Free Trade Agreement (“ACFTA”), albeit only half materialized, is certainly one of those that have caught most of the attention. There is a growing body of literature on the economic and geo-political dimensions of ACFTA, while the discussion on its legal aspects is still in the nascent stage. This chapter is an attempt to explore the various legal issues concerning ACFTA, including:
The tariff reduction arrangement under ACFTA;
Some contentious trade law issues in ACFTA, including rules of origin and contingency protection policies;
Dispute settlement under ACFTA; and
The legal nature of ACFTA and its impact on the legal relations concerning the rights and obligations of the parties under ACFTA.
Why are these issues important? The chapter starts with an introduction to the negotiations and conclusion of the relevant ACFTA instruments. It proceeds to address the legal aspects of some essential — and, to some extent, contentious — issues in the free trade agreement, including the tariff arrangement, rules of origin, and trade remedy measures, followed by an examination of the dispute settlement regime of ACFTA. Based on the examination of the specific institutions of ACFTA, the chapter then begins to discuss the international legal nature of the agreement which concerns its legal status as an instrument under international law. At first glance, ACFTA is a bilateral agreement between China and The Association of Southeast Asian Nations (ASEAN). In fact, it is a multi-party agreement concluded by eleven sovereign nations, ASEAN not being allowed to appear as an independent party. This legal instrument will have a profound implication on the legal status of ACFTA, its dispute settlement mechanism, and its future negotiations. Finally the WTO consistency of ACFTA is analysed. Given that most signatories to ACFTA are WTO members and the rest are striving to join the WTO, it is important for ACFTA to comply with WTO disciplines.
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