FTA_1ijt, FTA_2ijt and FTA_3ijt are binary variables that measure the specific trade effects in the ASEAN–China Free Trade Area.
FTA_1ijt takes a value of 1 after 200312 if both countries i and j in year t belong to the ACFTA and zero otherwise. A positive and
statistically significant coefficient of FTA_1ijt represents trade creation effects and indicates that intra-regional trade has been
promoted more by the free trade agreement and is higher than normal trade levels.