Regionalism and Rice Trade in Southeast and Northeast Asia: Making Liberalization Work
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In Southeast and Northeast Asia rice is not just a staple food but a fundamental part of livelihood and also a matter of national security. As such opening the rice market has been a continuously thorny issue for trade negotiations in this region. Although the region has trended toward free trade agreements and economic integration in recent decades, the analysis illustrates that most countries have established a set of robust institutions to safeguard their rice markets. Given the apparent benefits that the rice liberalization could bring to the region, countries should exert concerted efforts to break impasse in rice trade negotiations. This research suggests that efforts to build regional community and rice trade liberalization move in tandem. In order to materialize the benefits of an integrated and liberalized rice market, a regional governance framework that would instill confidence in region’s rice market needs to be established.
Abstract
In Southeast and Northeast Asia rice is not just a staple food but a fundamental part of livelihood and also a matter of national security. As such opening the rice market has been a continuously thorny issue for trade negotiations in this region. Although the region has trended toward free trade agreements and economic integration in recent decades, the analysis illustrates that most countries have established a set of robust institutions to safeguard their rice markets. Given the apparent benefits that the rice liberalization could bring to the region, countries should exert concerted efforts to break impasse in rice trade negotiations. This research suggests that efforts to build regional community and rice trade liberalization move in tandem. In order to materialize the benefits of an integrated and liberalized rice market, a regional governance framework that would instill confidence in region’s rice market needs to be established.
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