We analysed the effect of trade competition structure compliance with a reduction of tariff rates in APEC.
For this purpose, we examined 15 early voluntary sectoral liberalization commodities. Firstly we reviewed theoretical theses concerned with A...
We analysed the effect of trade competition structure compliance with a reduction of tariff rates in APEC.
For this purpose, we examined 15 early voluntary sectoral liberalization commodities. Firstly we reviewed theoretical theses concerned with APEC trade liberalization. Secondly, we considered patterns of comparative advantage in these sectors. Last we analysed the effects of EVSL on trade flows. According to tariffs reduction, EVSL is expected to increase imports to Korea. And our analysis shows that the increased volume of imports will be greater in Automobiles, chemicals, and fish products than other sectors. At the same time, EVSL is likely to increase Korea's opportunities for more exports to APEC member countries because many of them constitute Korea's major trading partner and some still have substantial tariff barriers. We anticipate a substantial increase in exports of automobiles, chemicals, gems and among others.