The agreement of UR and establishment of WTO facilitate a free and fair trade system for world trade order. The WTO provides a frame work to facilitate a multilateral trade negotiation. Therefore, trade barrier will be lessened, market-opening will be...
The agreement of UR and establishment of WTO facilitate a free and fair trade system for world trade order. The WTO provides a frame work to facilitate a multilateral trade negotiation. Therefore, trade barrier will be lessened, market-opening will be expanded, and trade regulation will be strict. The success of the WTO can rely on the other members of the multilateral system to do their fair and unlimited competition.
The WTO will facilitate Korean economic interrnationalization and lead to an industrially advanced nation. Of course, opening its domestic market will press Korean companies and government. Also, the WTO facilitates the implementation of trade-related intellectual property right. In addition, the developed countries are urging new round such as GR, BR, CR, TR to solve their trade unbalance. Korea needs to open its market under the bilateral trade pressure without taking the other countries' market opening. Therefore, Korea must participate in the WTO agreements aggresively and recognize the obligation and role for world society.
Korea reinforces a multilateral trade order system because the WTO is based on the idea of reinforcement through market-opening and multilateral regualtion provision, Korea must cope with the WTO actively through adjustment of industrial structure, improvement of the quality, reinforcement of the price competitive power, and the development of new technology, Korea must lessen the economic regulations for strenthening Korea's competitive position in world markets. Also, Korean government must facilitate readjustment of industrial structure. World integrated regionalism may deteriorate a spirit of the WTO. To restrain exclusive regionalism from EU and NAFTA, Korea needs to construct an opening towards a regional cooperation system. APEC is a crucial regional trade cooperation for Korea to depend the bilateral trade pressure.
The UR agreements made a good start at addressing a number of new rounds such as Green Round, Blue Round, Competition Policy Round, and Technology Round. For example, the Green Round addresses environment issues. Korea must pass the most stringent green marketing laws that regulate the management and recycling of packaging waste. Finally, Korean administrator must demonstrate a sense of responssibility by integrating each Round's duties into individual behavior.