동북아 경제협력의 과제와 방안 - 한·중·일 FTA의 기대효과와 추진방안

Problems and Strategy of Northeast Asia Economic Cooperation - Expected Effect and Promotion Strategy of Free Trade Agreement among Korea, China and Japan

In the mid-l990s, Korea faced two conflicting international trends of multilateralism and regionalism. Competitive advantage of Korean goods weakend over two competing countries, China and Japan during the period. Korean commoditites are in between these two countries as a nut cracker. Korea has to cope with the situation and utilize it favorably in order to induce regional trade and investment. Growth potential of Northeast Asia is so huge that these countries might benifit from the free trade agreement(FTA), which prevents them from making a dual investment and excessive competition and promotes the division of industry in the region. In order to maximize the effect of FT A, it needs to make favorable circumstances and infrastructure, which is to revise various laws and incentive systems related to FDI. Especially, when these three countries make FT A, it should include overall trade barriers, that is, the non-tariff barrier as well as tariff system.