This monograph compares two trade agreements among three important
economic regions, namely, the Korea-EU free trade agree (FTA) and
the Japan-EU Economic Partnership Agreement (EPA). The two new
types of agreements came into effect in the 2010s. They not only
create more favorable trade and economic conditions in these
regions but also produce spillover effects to bring about more
comprehensive conditions in other area. First, the quantitative
research for both agreements using the CGE model and a tentative
analysis of the Japan-EU EPA in the analysis show that both have
already created positive impacts on all three economies by lifting
or reducing tariff and non-tariff barriers. Such positive impacts
are also expected to be felt by SMEs in these countries that are
involved. Additionally, the high level of tariff and non-tariff
liberalization in the two current agreements will make positive
impacts on the negotiation of other FTAs and on WTO reform. The
advantages of the FTA and EPA dealt with in this book are not
restricted to these economic effects. As the agreements are
comprehensive, they will create more favorable social conditions
not only in these economic regions but in other areas of Asia as
well.
General
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