The aim of this research is a comparative analysis of the provisions of free trade agreements signed by ASEAN with dialogue countries and the East Asia Summit partners - China, Japan, the Republic of Korea, India, Australia and New Zealand. The author's thesis is that, in our opinion, the final effect of participation in the free trade zone for the national economy depends on such factors as the volume of mutual trade, the degree of economic interde-pendence, the level of customs duties rates at the date of signing the agreement, the volume of the mutual market, geographical proximity. The higher the role of these factors, the greater the effect of trade creation is received by the participating states. The basis of the research methodology is the understanding of regional integration agreements as a multifactor instrument of trade policy in various countries of the world that facilitates the liberalization of international trade in general and the regional trade in particular, enhancing the participation of partner states in the international division of labor and stimulating the dynamics of their economic development. Such agreements are considered as a system that includes a set of elements that interact with elements of other systems. Such interaction is considered taking into account the specific purpose of each of the elements, and also taking into account the factors of the stability of the development of each system. In carry-ing out this study, the author has used such methods as the method of comparative analysis, which makes it possible to identify the specifics of the participation of ASEAN countries in free trade zones; methods of statistical analysis and political forecasting that provide an opportunity to identify legal norms of integra-tion agreements on the ASEAN + 1 model; as well as a logical conceptual analysis that allows to present a full picture of the ASEAN integration policy. The author analyses norms for regulating the trade in goods and services, investment, distinguishing almost all agreements, as well as intellectual property rights, mobility of individuals and economic cooperation in the framework of some agreements. The article examines the state of trade and investment cooperation between partners in the free trade areas, and comes to the main conclusion about the effect of trade crea-tion, which is expressed in a faster rate of growth in mutual trade and a growth of its share. The greatest economic benefit for ASEAN is the free trade area with China due to such factors as the population size and GDP volume, geographical proximity, the volume of trade at the time of formation of the free trade area, the complementarity of economic structures, and the size of duty rates at the time of signing the agreement. Experience of the functioning of free trade zones within the framework of the ASEAN + 1 shows the importance of wider coverage of economic relations in the liberalization.