ABSTRACT
Foreign trade exists in two dimensions. Outwardly, it consists of economic transactions in which goods and services are exchanged for money by persons or entities in two countries. Inwardly, it is a political process in which difficult choices must be made between competing values, priorities, and objectives. International air transport has been especially politically volatile and always attracts public interest, discussion, and controversy. It has remained as one of the most debated topics in governments, attracting attention beyond its economic significance. The International air transport sector has become more liberalised with the majority of economic restrictions being removed through the USA’s open skies initiatives. Dealings with ASEAN and the peripheral economies in Northeast Asia have been identified as an important factor at the regional level.
