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Alternative agricultural policies in Korea

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  • Alternative agricultural policies in Korea
  • Koo, Won; Cho, Kyu
  • North Dakota State University


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Title Alternative agricultural policies in Korea
Similar Titles
Material Type Articles
Author(English)

Koo, Won; Cho, Kyu

Publisher

[Fargo]:North Dakota State University

Date 1991
Series Title; No Agricultural Economics Report / no. 267
Pages 40
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Agriculture
Holding COnnecting REpositories

Abstract

Unlike the previous rounds of the GATT negotiations, the Uruguay round of the GATT negotiations has been dominated by trade issues related to agricultural products. The United States proposed elimination of all agricultural policies which distort trade flows of agricultural products over a ten year period. This proposal also includes the "tariffication" concept whereby all77 current agricultural nontariff barriers be converted to fixed tariffs and then reduced gradually over the period. In addition, the United States has been promoting free trade of agricultural products through bilateral negotiations with major importing countries such as Japan and Korea. The outcome of the current GATT negotiations is uncertain. It is, however, certain that agricultural products trade will be freer than before. This implies that trade flows of agricultural products will be determined on the basis of the principle of comparative advantage. Under the given circumstance, Korea may not be able to maintain its traditional protectionist agricultural policies. There would be substantial reductions in agricultural production and farm income in Korea if the Korean government liberalizes its domestic market. Korea needs an agricultural policy which optimizes its agricultural sector.