Liberalization measures undertaken would not discriminate against third countries. The 1995 meeting

Also agreed that each member should present its five-year plan for liberalization at the meeting in

In 1996 there were eighteen members, viz. Australia, Brunei, Canada, Chile, China, Hong

Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines,

Singapore, South Korea, Taiwan, Thailand, and USA. Applications to join have been received

From India, Russia, and Vietnam.

Commentary and Notes to Text 21.7.1.4

Fifteen Pacific Rim countries — пятнадцать стран Тихоокеанского региона

Public procurement contracts — контракты на закупку (государственные)

Latin American Integration Association

Association o f South East Asian Nations

Asia-Pacific Economic Cooperation

21.7.1.5. Read the text “Free Trade and Freeports” and answer the question: What is the benefit

of setting up freeports?

Free Trade and Freeports

The compelling logic of the case for free trade is hardly new.

A side benefit of free trade is that it promotes competition and deters monopoly. The increased

Competition afforded by foreign firms forces domestic firms to adopt the lowest-cost production

And trade techniques.

One of the organizational forms of free trade is a freeport.

A freeport is a seaport or airport which is able to accept cargo without the imposition of any