Description
Title: Republic of Korea and India CEPA: Evaluation and Future Directions
Abstract: The Republic of Korea (ROK) and India are moving toward developing a deeper economic partnership. Both nations agreed to lower and/or do away with their respective tariffs on goods when they signed a Comprehensive Economic Partnership in 2009, which went into effect in 2010. In this essay, we look at the industries in which India and the ROK have a comparative advantage—both in terms of goods and services. In the context of trade between India and the Republic of Korea, we examine tariffs, non-tariff trade barriers, and potential trade benefits. Our findings imply that while the ROK has a comparative advantage in goods, India does so in services. Future negotiations must therefore center on India providing the ROK with market access for its goods while the ROK does the same for India’s services.
Keywords: India; Korea; CEPA; market comparative advantage; Grubel–Lloyd index; non-tariff measures; services
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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