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Korea-US FTA

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Frame of Image 's largest FTA since the completion of NAFTA in 1992, and will have long term effects not only for economic, political but also geostrategic factors in Korea and East Asia. The FTA presents a unique opportunity for both countries to commit to a new and more meaningful level of cooperation that will be of profound mutual benefit and enhance the bilateral relationship in the long term. FTA negotiations are expected to be complicated by the expiration of trade promotion authority(TPA) in June 2 007. Most issues except few impasses can be negotiated at the working level. Unless leaders in both Washington and Seoul properly manage these challenges, th e two ot necessarily affected. countries will be risking not only a trade agreement, but also the future of the alliance due to the short-term bilateral tensions and domestic political battle that can be expected to arise during negotiations. If there exist impasses, the exclusion of impasses in FTA is recommended than the collapse of the negotiation.
Keyword: Korea-US FTA, Economic integration JEL code: F02
I. Introduction The number of Free Trade Agreements (FTAs) that have been reported to WTO reached 184 as of 2005, and 120 FTAs were signed after the late 1990s. Influenced by the slow progress of Doha Round and rising protectionism, more attention is paid to FTAs, and WTO estimated that over 50 percent of world trade was conducted under the influence of FTAs. Free Trade Agreement(FTA), as one Ho wever, it form of regional economi


Full Text
Title Korea-US FTA
Similar Titles
Material Type Reports
Author(English)

Kim, JiHong

Publisher

Seoul : KDI School of Public Policy and Management

Date 2006
Series Title; No KDI School Working Paper Series / 06-17
Pages 26
Subject Country United States(Americas)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KDI School of Public Policy and Management
License

Abstract

"If an agreement is reached, Kor-US FTA would be the US's largest FTA since the completion of NAFTA in 1992, and will have long term effects not only for economic, political but also geostrategic factors in Korea and East Asia. The FTA
presents a unique opportunity for both countries to commit to a new and more meaningful level of cooperation that will be of profound mutual benefit and enhance the bilateral relationship in the long term. FTA negotiations are expected to be complicated by the expiration of trade promotion authority(TPA) in June 2007. Most issues except few impasses can be negotiated at the working level. Unless leaders in both Washington and Seoul properly manage these challenges, the two ot necessarily affected. countries will be risking not only a trade agreement, but also the future of the alliance due to the short-term bilateral tensions and domestic political battle that
can be expected to arise during negotiations. If there exist impasses, the exclusion of impasses in FTA is recommended than the collapse of the negotiation."