RCEP deal to help boost S. Korea’s exports and investment
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RCEP deal to help boost S. Korea’s exports and investment

after about seven years of negotiations
15 countries including South Korea China and Japan have agreed on the terms of
the regional comprehensive economic partnership or our SEP which the
countries have committed to signing next year or kim hye-sung reports on the
significance of the deal a mega free trade agreements the regional
comprehensive economic partnership was reached Monday in Thailand the trade
deal involves all 10 ASEAN member countries and five of their trading
partners South Korea China Japan Australia and New Zealand India which
runs a large trade deficit with China decided not to join citing unresolved
issues on the deal the agreement with our sub countries which account for half
of South Korea’s trade will help revitalize and diversify South Korea’s
exports according to the korea economic research institute our sub will add an
annual average of 1% to South Korea’s GDP and 1.1 billion u.s. dollars in
consumer benefits in the long run it’s also expected to boost South Korea’s
current account by 29 billion dollars the trade ministry says the deal will
help South Korean companies enter the e-commerce markets of ASEAN countries
goods that have been produced in different countries within our sub in
the different stages of production process would also be able to get
preferential tariffs unified rules of origin will help facilitate trade and
lower non-tariff barriers the R sub deal also helps lower uncertainties amid
rising trade protectionism and the ongoing us-china trade dispute however
our sub could have a negative impact on South Korea’s agriculture and marine
sectors as it includes agricultural powerhouses like China Australia and New
Zealand in addition India which posed the second largest consumer market in
the world opted out of the deal 15 hours a member
countries say they aim to officially sign the deal in 2020 and also work to
resolve issues and include India in the trade pact mesmo arirang news

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5 thoughts on “RCEP deal to help boost S. Korea’s exports and investment

  1. https://www.amnesty.org/en/latest/news/2018/09/japan-is-on-the-wrong-side-of-history-over-myanmars-atrocities-against-the-rohingya/

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