You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution Korea Institute for International Economic Policy (KIEP) Remove constraint Publishing Institution: Korea Institute for International Economic Policy (KIEP) Political Geography India Remove constraint Political Geography: India Publication Year within 25 Years Remove constraint Publication Year: within 25 Years Publication Year within 5 Years Remove constraint Publication Year: within 5 Years Topic International Trade and Finance Remove constraint Topic: International Trade and Finance
- Author: Surendar Singh
- Publication Date: 01-2020
- Content Type: Policy Brief
- Institution: Korea Institute for International Economic Policy (KIEP)
- Abstract: India and South Korea enjoy strong economic and trade relations, shaped by a significant convergence of interest, mutual good will and high-level diplomatic exchange. Bilateral trade between the two countries has also increased after signing the Comprehensive Economic Partnership (CEPA). However, the overall trade balance is in favor of South Korea due to superior comparative advantage of Korea in manufacturing as compared to India. South Korean exports are high technology-intensive while India’s exports are low-value raw material and intermediate products. Both countries are members to a mega regional trade pact – the Regional Comprehensive Economic Partnership. Though India has decided to not join the RCEP at this stage it will continue the discussion to explore possible ways to join it. Assuming that India will join the RCEP sooner or later, it is important to analyze the potential impact of the RCEP to India-South Korea bilateral trade ties. This short policy paper compares the proposed provisions of the RCEP and CEPA. It shows that the RCEP is much more comprehensive an agreement compared to the CEPA, both in terms of coverage and scope. It also provides some insights on the likely implications of the RCEP, especially from the perspective of trade with China factored against the bilateral trade ties between India and South Korea.
- Topic: International Trade and Finance, Bilateral Relations, Partnerships, Economic Cooperation
- Political Geography: South Asia, India, Asia, South Korea