FTA_3ijt takes a value of one if exporter i is a non-ACFTA member in year t and destination country j belongs to the ACFTA and
zero otherwise. A positive and statistically significant coefficient of FTA_3ijt is defined as a trade creation effect in terms of imports and
indicates expanded imports from non-member countries to member countries. Conversely, a significantly negative ϕ3 indicates a
trade diversion effect in terms of imports