Should Korea participate in TPP?

TPP is acronym of Trans-Pacific Partnership.

It is agreement that bind the Asia and Pacific region to the Free Trade Area .

 

 

 

While the FTA is to do a free trade agreement with the two nations, TPP is to do a free trade agreement with the 10 or 20 countries at the same time.

TPP has the purpose of integration in the Asia and Pacific region economy.

So, this agreement is liberalized as eliminating tariff of customs cooperation, barriers of non-tariff.

In 2005, United States, Japan, Mexico, New Zealand, Vietnam, Chile, Peru, 12 countries are participating.

Free trade between the participating countries occupy the world's total gross domestic economies.

 

Because Korea did not get the initial signatories status, we missed the opportunity to dominate the market, nearly 40% of the world.

so, It was placed in a disadvantageous situation in the Asia-Pacific economic integration flow.

If all participants signed a final agreement, it is expected to be made of the largest free trade zone in the Asia-Pacific region.

 

TPP is a multilateral FTA, but It is seeking exceptionless tariff elimination and aims for a comprehensive liberalization in bilateral FTA or more.

 

Korea is saying intention of involvement in the current TPP.

 

However, South Korea needs to be more carefully of participation in the TPP to our interst.

The reason is that First, TPP is interwined with a political and diplomatic issue between China and the United States.

Second, South Korea signed a bilateral FTA with TPP participating countries or is progressing. so, interest of the negotiations participation is uncertain.

Third, TPP agreement includes state-owned enterprises preference ban and the Unfair regulations Authority to request withdrawal

 

Korea between China and the US need a prudent worry about how to act.

When China and the United States that are the central axis of the world is fight,

dough-faced diplomatic relations could worsen further.

Also we should worry if adding TPP with 12 countries is benefit.

What's more we must determine so that our national interests pursue.