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Preliminary assessment of the economic impacts of a Canada-Korea free trade agreement

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  • Preliminary assessment of the economic impacts of a Canada-Korea free trade agreement
  • Ciuriak, Dan; Chen, Shenjie
  • Department of Foreign Affairs and International Trade, Canada


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Title Preliminary assessment of the economic impacts of a Canada-Korea free trade agreement
Similar Titles
Material Type Reports
Author(English)

Ciuriak, Dan; Chen, Shenjie

Publisher

[Ottawa, Canada] : Department of Foreign Affairs and International Trade, Canada

Date 2007
Series Title; No Trade Policy Research / 2007
Pages 48
Subject Country Canada(Americas)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Holding Global Affairs Canada
License

Abstract

This document analyzes the possible economic impacts of a free trade agreement between Canada and Korea, negotiations for which were launched on July 15, 2005. The economic impacts of tariff elimination are assessed based on simulations using a computable general equilibrium (CGE) model known as the Global Trade Analysis Project (GTAP) and version 6 of its database. Five alternative scenarios are simulated based on a range of assumptions concerning the supply-side response of the economy to expanded trade with Korea, including a central scenario incorporating the assumptions best suited for Canada and Korea respectively. The impact of non-tariff elements of a CKFTA, including impacts on bilateral investment flows and services trade, are taken into account only qualitatively. The main findings are as follows: Assuming full elimination of tariffs for industrial and agricultural products, Canada’s total merchandise exports to Korea in the central scenario would increase by 56 percent. (The rest omitted)