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To improve the use of FTA : Lessons learned from Korea

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  • To improve the use of FTA
  • Cheong, Inkyo
  • Economic Research Institute for ASEAN


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Title To improve the use of FTA
Similar Titles
Sub Title

Lessons learned from Korea

Material Type Reports
Author(English)

Cheong, Inkyo

Publisher

Jakarta:Economic Research Institute for ASEAN

Date 2015-08
Series Title; No ERIA Research Project Report / 2014-6
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Government and Law < International Politics
Holding ERIA

Abstract

Although Korea has been successful in concluding free trade agreements (FTAs), it has faced difficulties in increasing FTA utilisation by small and medium enterprises. Since there has been substantial progress in building institutional infrastructure as part of the Korean government’s active policy of FTA utilisation assistance, FTA utilisation ratios are as high as those of advanced countries. Several policy implications can be drawn from Korea’s experience in assisting businesses with FTA utilisation. (i) One of the most urgent and important tasks in assisting FTA utilisation is to identify the barriers that prevent companies from utilising FTAs. Critical barriers may differ from country to country. (ii) Coordination amongst national agencies is critical in increasing the efficiency of the infrastructure assisting FTA utilisation. (iii) Governments should promote FTAs with large economies, which are expected to bring big economic gains. (The rest omitted)