provide more creativity and choices but some of these differences might be obstacles to efficiency and agreements.
EAEG vs ASEAN Free Trade Area (AFTA)
The purpose of the AFTA is mainly to reduce and finally eliminate tariffs in the region. It also aims to integrate the ASEAN economies into a single production base and to establish a regional market. AFTA have little agenda concerning the financial and political issues although it aims to benefit the two areas via an open and friendly trading system. EAEG, however, aims to look into every aspect such as social, political, financial, security, healthcare etc. Moreover, China, Japan and Korea are not included in AFTA. AFTA alone has a market of about 500 million people but EAEG will have a market of 1.8 billion.
The membership of EAEG and APEC are very different. APEC is almost a meeting between the different sides of the Pacific. These regions are bonded through trade alone, their historical backgrounds, cultures and values differ largely. APEC aims to increase cooperation between nations, to facilitate business activities and to liberalise trades. These are also shared purposes of EAEG. APEC has
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