Towards Deeper Integration Among China, Japan and Korea
While the negotiations of the World Trade Organization (WTO) have not shown much progress, preferential trade agreements (PTAs) have become the main trade policy ro pursue liberalization in international trade for decades. Modern PTAs have evolved, including not only provisions to liberalize trade in goods and services, but also provisions to harmonize the regulatory environment among partner countries. Given the low tariff barriers and the prevalence of multinationals, PTAs’ role of regulatory coherence and harmonization have become more important than before.
This paper was prepared as KIEP policy reference 17-01. We gratefully acknowledge financial support from KIEP. All remaining errors are our own.
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