ASEAN-South Korea Free-Trade Area

EENI- School of International Business

Sub-subject: The Free-Trade Area between the ASEAN and South Korea. Syllabus:

1. Introduction to the ASEAN-Korea Free-Trade Area
2. The Foreign Trade between the ASEAN Countries and South Korea
3. The ASEAN-South Korea Free Trade Agreement (FTA)

Sample of the sub-subject: The ASEAN-South Korea (FTA)

Description of the Sub-Subject: The ASEAN-South Korea Free-Trade Area

The Framework Agreement on exhaustive Economic and Trade Cooperation was signed at the 9th Summit of the Association of Southeast Asian Nations (ASEAN) in 2005.

The ASEAN-South Korea Free-Trade Area entered into force in 2010.

The Framework Agreement provides for the ASEAN-South Korea Free-Trade Area:

1. 2008 for South Korea
2. 2010 (with flexibility to 2012) for Brunei Darussalam, Indonesia, Malaysia, the Philippines, Singapore, and Thailand
3. 2016 for Vietnam
4. 2018 for Cambodia, Laos, and Myanmar

Foreign Trade Korea-ASEAN.

1. International Trade between the Association of Southeast Asian Nations (ASEAN) and South Korea is robust despite the global economic and financial crisis
2. Compared to the 22% decline in the global trade in 2009, the total bilateral trade between the ASEAN and South Korea showed a strong efficiency with only a slight drop of 4% from the previous year, reaching the level of 75 billion dollars from 78 billion dollars
3. Foreign trade volume between the Association of Southeast Asian Nations member economies and the Republic of Korea tripled from 2001 - 08 from 32 billion dollars to 90 billion dollars
4. The value of the total trade between the ASEAN and Korea was much higher than its pre-global crisis (61 billion dollars in 2007)

ASEAN's Free Trade Agreements (FTA).