The results will also inform us about the division of benefits from an FTA between ASEAN and its FTA partner(s). A large and growing empirical literature has used the CGE model to estimate the output and welfare effects of FTAs among East Asian countries, including ASEAN
The overall evidence from the literature indicates that an A+3FTA would deliver bigger output and welfare gains for ASEAN and the PRC, Japan, and the Republic of Korea than bilateral FTAs between ASEAN and individual members of the Big Three.