scholarly journals South Korea’s trade policy imperatives: the impact of COVID-19 pandemic

2021 ◽  
Vol 7 (3) ◽  
pp. 64-78
Author(s):  
M. P. Kukla
Keyword(s):  
Trade Policy ◽  
Free Trade ◽  
Industrial Structure ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
Structural Problems ◽  
Division Of Powers ◽  
Geographic Structure ◽  
The Republic ◽  
The Impact

The article analyses the goals and imperatives of the Republic of Korea’s trade policy before the COVID-19 pandemic and taking into account its consequences. The RoK's trade policy aims to synchronize the interests of the state, conglomerates and small and medium-sized enterprises. For this purpose, a system of division of powers in the field of trade policy and diplomacy has been designed, which has proven to be very effective. The COVID-19 situation, which has exacerbated the growing trend of protectionism in international trade, highlighted the chronic structural problems of trade in the Republic of Korea of trade in the area of geographical and commodity structure – despite the positive dynamics of the country's exports. The challenge of countering protectionism, coupled with the need to diversify the commodity and geographic structure of exports, implies two areas of work: strengthening an industrial structure capable of producing competitive goods and expanding the network of free trade agreements. The need to address logistical problems, digitalization, and the trend towards decarbonization forces Korea to rely more heavily on the idea of promoting free trade. The country's leadership continues to criticize protectionism, guided by the idea of a balanced use of bilateral and multilateral instruments of liberalization.

The impact of COVID-19 on the economy and international economic relations of the Republic of Korea

2021 ◽  
Vol 97 (4) ◽  
pp. 173-179
Author(s):  
I. A. Sukhanov ◽  
Keyword(s):  
Free Trade ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
The United States ◽  
Global Value Chains ◽  
Republic Of Korea ◽  
Asia Pacific ◽  
Value Chains ◽  
The Republic ◽  
The Impact

The COVID-19 pandemic has negatively impacted global trade in goods and services and has exposed weaknesses in the existing structures for international interaction within the global value chains in the Asia-Pacific region, including the United States of America, Japan and the Republic of Korea. The dependence of these economies on the People's Republic of China negatively affected the production processes of the largest industrial companies. To minimize the existing risks, countries are actively participating in and developing free trade agreements, which helps to diversify the geography of participants in global value chains and sales markets. The Government of the Republic of Korea has demonstrated its ability to effectively combat the COVID-19 pandemic by implementing its own strategy of preventive measures and economic stimulus measures. In addition, two new foreign economic initiatives were launched: the New Southern Policy and the New Northern Policy, which could be based on existing and new free trade agreements. Active involvement in global value chains and participation in free trade agreements allowed the Republic of Korea to increase its competitive advantages in the world market and develop its economic potential. The diversification of trading partners under free trade agreements had a positive impact on the country's economic performance during the pandemic and helped to minimize the negative impact of disruptions in foreign trade. The Russian Federation has the opportunity to integrate into new foreign economic trends in South Korea, and there are opportunities to increase the volume of mutual trade between the countries. One of the ways to achieve this goal may be the signing of a bilateral agreement of a free trade zone between the Republic of Korea and the Eurasian Economic Union.

scholarly journals When politicization meets ideology: the European Parliament and free trade agreements

2021 ◽  
pp. 1-16
Author(s):  
Marta Migliorati ◽  
Valerio Vignoli
Keyword(s):  
Trade Policy ◽  
Free Trade ◽  
Explanatory Power ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
European Parliament ◽  
Systematic Research ◽  
The Impact

Abstract Since the Lisbon Treaty, the European Parliament (EP) has considerably increased its competencies in European Union (EU) trade policy. At the same time, a ‘new generation’ of free trade agreements (FTAs), including the Transatlantic Trade and Investment Partnership (TTIP) with the United States, Comprehensive Economic and Trade Agreement (CETA) with Canada, and the agreement with Japan, have been negotiated by the European Commission. Although existing literature has tackled the process of the EP's institutional self-empowerment in this policy area, there is no systematic research investigating the lines of conflict within the EP over FTAs. Through a newly collected dataset of all EP plenary debates between 2009 and 2019 on six relevant FTAs, we extract EP Members’ (MEPs) preferences by means of a manual textual analysis. We then test the explanatory power of the two traditional lines of cleavages within the EP over MEPs stated preferences: position on the left-right axis and support for EU integration. We find that both these dimensions fundamentally shape the conflict in the EP over FTAs. The impact of these two ideological cleavages is magnified in the context of politicized FTAs, namely the TTIP and CETA. Through these findings, the paper significantly contributes to the research on competition in the EP and, more broadly, to the understanding of EU trade policy and its emerging politicization dynamics.

INTERNATIONAL LEGAL FRAMEWORK FOR THE FUNCTIONING OF MECHANISMS FOR RESOLVING TRADE DISPUTES IN THE CONTEXT OF THE EURASIAN ECONOMIC UNION

2021 ◽  
Vol 4 (5) ◽  
pp. 139-151
Author(s):  
K. I. ZHADAN ◽  
Keyword(s):  
Dispute Resolution ◽  
Free Trade ◽  
Free Trade Agreements ◽  
Trade Agreements ◽  
Legal Framework ◽  
Trade Disputes ◽  
Member States ◽  
Eurasian Economic Union ◽  
Economic Union ◽  
The Republic

The article examines an international legal framework of the dispute resolution under free trade agree-ments. The existing mechanisms for resolving trade disputes are analyzed and their classification is given. The article demonstrates an evolutionary change of the approach of States to the formulation of provisions on dispute settlement in international trade treaties. Special attention is paid to the systems of dispute resolution under free trade agreements to which the Eurasian Economic Union is a party. The free trade agreements of the Eurasian Economic Union and its member States with the Socialist Republic of Vietnam (2015), the Islamic Republic of Iran (2018), the Republic of Singapore (2019) and the Republic of Serbia (2019) are compared with respect to the dispute resolution mechanisms. The article focuses on such institutional aspects as the method of appointing arbitrators, the scope of interstate disputes and the competition of dispute resolution platforms. The effectiveness of the dispute resolution systems of the World Trade Organization and special-ized mechanisms under the free trade agreements of the Eurasian Economic Union and its member States is evaluated. The negative and positive aspects of the existing mechanisms under the free trade agreements of the Eurasian Economic Union and its member States are highlighted, and the ways of their development are proposed.

FREE TRADE AGREEMENTS AND BRIDGEHEAD EFFECT: EVIDENCE FROM KOREA–CHILE FTA

2016 ◽  
Vol 61 (05) ◽  
pp. 1550098
Author(s):  
KICHUN KANG ◽  
PHYLLIS KEYS ◽  
YOON S. SHIN
Keyword(s):  
South America ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Direct Evidence ◽  
Recent Literature ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The Impact ◽  
Aggregate Industry

Recent literature on the dynamics of export destinations has argued that firms export their products to new markets that are geographically close and culturally related to their previous export destinations. A modified version of [Melitz, M (2003). The impact of trade on intra-industry reallocations and aggregate industry productivity. Econometrica, 71(6), 1695–1725.] model suggests that a preferential trade agreement may provide inefficient firms with opportunities to export their products to third destination countries. This paper finds that new Korean products have been exported to the Chile market because of reductions in Chilean tariffs and the experience gained from exporting to the Chilean market has increased the likelihood of subsequent export to other countries in South America. The paper provides direct evidence that a free trade agreement (FTA) can serve as a stepping stone to other markets.

India’s Trade Potential and Free Trade Agreements: A Stochastic Frontier Gravity Approach

2017 ◽  
Vol 17 (1) ◽  
pp. 20160074 ◽  
Author(s):  
Surender Kumar ◽  
Prerna Prabhakar
Keyword(s):  
Free Trade ◽  
South Asian ◽  
Stochastic Frontier ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Regulatory Quality ◽  
Trading Partners ◽  
Trade Potential ◽  
The Impact

This paper analyses the role of Free Trade Agreements in determining export and import efficiency levels in India using stochastic frontier version of gravity model. We estimate the impact of selected FTAs of India (its bilateral FTAs, FTA with ASEAN and South Asian FTA) and regulatory quality on the efficiency of exports and imports over the period of 2000–2014. The results indicate that India’s bilateral FTAs and its FTA with the ASEAN group help in improving the export and import efficiency respectively. However, the South Asian Free Trade Agreement is statistically insignificant for India’s export and import efficiency. The results also highlight importance of trading partners’ regulatory quality for enhancing the India’s trade efficiency and note that the impacts of regulatory quality are non-monotonic.

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