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The implications of the Trans-Pacific Partnership for SMEs : Opportunities and challenges

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Frame of Image ng TPP members E. Conclusion
. Conclusion
* Associate professor, Faculty of Law, the University of New South Wales, Sydney. Email: heng.wang1@unsw.edu.au. This article will appear as a chapter in Thilo Rensmann (ed), Small and Medium-Sized Enterprises in International Economic Law (Oxford University Press, forthcoming 2016) entitled “The Asian Perspective on SMEs in International Trade Law: Opportunities and Challenges Arising from the TPP.”
Abstract
The Trans-Pacific Partnership (TPP) will have profound implications for small and medium-sized enterprises (SMEs) within and beyond the free trade area. SME issues get more attention in the TPP than previous FTAs. Since there is limited research on the impact of the FTAs on SMEs, it is of great significance to probe into the practical implications of the TPP for SMEs. The key question will be analyzed: what are the challenges and opportunities that the TPP hold for SMEs? It is argued that, first, the support to SMEs, tariff elimination or reduction, and the reduction of non-tariff barriers are major opportunities presented by the TPP. The key benefits to SMEs are enhanced market opening and increased predictability. However, such opportunities may have limited effects in improving market position for certain SMEs. Second, the TPP will pose major challenges such as insufficiency of the opportunities to SMEs, the complexity of rules, difficulties in rule interpretation and implementation, remained regulatory differences, disadvanta


Full Text
Title The implications of the Trans-Pacific Partnership for SMEs
Similar Titles
Sub Title

Opportunities and challenges

Material Type Articles
Author(English)

Wang, Heng

Publisher

[Sejong, South Korea] : Korea Legislation Research Institute

Date 2016
Journal Title; Vol./Issue KLRI Journal of Law and Legislation:vol. 6(no. 1)
Pages 38
Subject Country Asia & Pacific(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Economy < Trade
Holding Korea Legislation Research Institute
License

Abstract

The Trans-Pacific Partnership (TPP) will have profound implications for small and medium-sized enterprises (SMEs) within and beyond the free trade area. SME issues get more attention in the TPP than previous FTAs. Since there is limited research on the impact of the FTAs on SMEs, it is of great significance to probe into the practical implications of the TPP for SMEs. The key question will be analyzed: what are the challenges and opportunities that the TPP hold for SMEs? It is argued that, first, the support to SMEs, tariff elimination or reduction, and the reduction of non-tariff barriers are major opportunities presented by the TPP. The key benefits to SMEs are enhanced market opening and increased predictability. However, such opportunities may have limited effects in improving market position for certain SMEs. Second, the TPP will pose major challenges such as insufficiency of the opportunities to SMEs, the complexity of rules, difficulties in rule interpretation and implementation, remained regulatory differences, disadvantaged positions of SMEs from developing TPP countries, and the impact on SMEs negatively affected by trade liberalization. (The rest omitted)