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The Development and Significance of China-Japan-Korea FTA

The Development and Significance of China-Japan-Korea FTA. May 2012, ASCC, Kazan Russia Prof. Liu Chenyang APEC Study Center of China at Nankai University. Outline. The Background of CJKFTA The Realistic Foundation for CJKFTA The Development of CJKFTA The Significance of CJKFTA

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The Development and Significance of China-Japan-Korea FTA

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  1. The Development and Significance of China-Japan-Korea FTA May 2012, ASCC, Kazan Russia Prof. Liu Chenyang APEC Study Center of China at Nankai University

  2. Outline • The Background of CJKFTA • The Realistic Foundation for CJKFTA • The Development of CJKFTA • The Significance of CJKFTA • The Prospect of CJKFTA

  3. The Background of CJKFTA • International: the upsurge of FTAs/RTAs since late 1990s; • Regional: progress of regional economic integration in North-east Asia; • New FTA Policies of China, Japan and Korea

  4. The Development of CJKFTA • 2001: the idea of CJKFTA was first initiated; • 2002: the leaders of the three countries began to formally discuss the possibility of establishing CJKFTA; • 2003~2009: a non-governmental joint research was conducted by academic institutions of the three countries

  5. The Development of CJKFTA • Oct 2009: leaders of the three countries reached consensus to start a joint study on CJKFTA among government officials, business and academic participants ; • Jan 2010: preparatory meeting of the Joint Study Committee (JSC); • May 2010: the joint Study for CJKFTA was formally launched

  6. The Development of CJKFTA • The 7 Joint Study Committee Meeting in succession -- May 2010: 1st JSC meeting, Seoul Korea -- Sep 2010: 2nd JSC meeting, Tokyo Japan -- Dec 2010: 3rd JSC meeting, Weihai China -- Apr 2011: 4th JSC meeting, Jeju, Korea -- Jun 2011: 5th JSC meeting, Kitakyushu, Japan -- Sep 2011: 6th JSC meeting, Changchun, China -- Dec 2011: 7th Pyeongchang, Korea

  7. I. Introduction II. General Trade and Economic Relations among the Three Countries III. Trade in Goods IV. Trade in Services V. Investment VI. Other Issues VII. General Conclusions and Recommendations The Content of the Joint Study Report

  8. VI. Other Issues The Significance of the CJKFTA 1. TBT 2. SPS 3. Intellectual Property Rights 4. Transparency 5. Competition Policy 6. Dispute Settlement Mechanism 7. Industrial Cooperation 8. Consumer Safety 9. E-commerce 10. Energy and Mineral Resources 11. Fisheries 12. Food 13. Government Procurement 14. Environment The Content of the Joint Study Report

  9. The Development of CJKFTA • Sep 2011: the Trilateral Cooperation Secretariat started operation in Seoul; • Dec 2011: the joint study on CJKFTA was successfully concluded; • May 2012: the three countries agreed to launch the negotiation for a CJKFTA within 2012

  10. The Realistic Foundation of CJKFTA • Geographic proximity • Cultural compatibility • Existing trilateral cooperation • Economic complementarities • Great potential for further economic integration

  11. Trilateral Goods Trade among China, Japan and Korea

  12. Share of Intra-regional Trade between China, Japan and Korea (Unit: Percent) Source: IMF. 2009. Direction of Trade Statistics

  13. The Significance of CJKFTA • To strengthen comprehensively the existing relations of the three countries; • To provide the three countries with a new growth engine; • To contribute to the ongoing process of economic integration in East Asia; • To foster prosperity for the world as a whole

  14. The Prospect of CJKFTA • To aim at a comprehensive and high level agreement, but with proper flexibility; • The influence of internal and external factors: -- Tripartite investment agreement: A forerunner? -- China-Korea FTA: A lever? -- TPP: A competitor?

  15. Thank You!Prof. Liu ChenyangAPEC Study Center of China at Nankai Universityapecliu@sina.com

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