A Study on the Feasibility of an FTAAP and Korea's Strategy

Abstract

After the establishment of APEC in 1989, APEC member countries remained reserved or neutral in their response to the proposal for the creation of an intra-FTA within APEC. However, APEC member countries agreed on the need to promote an FTAAP to speed up economic cooperation between APEC member countries as a long-term plan for rapid intra-regional integration and the breakdown of the Doha Round in recent times. At the APEC SOMIII in 2008, Korea, in cooperation with countries like Peru and Indonesia, led a study titled, “Analysis of Existing Studies on a FTAAP and Future Research Topics” that began examining the feasibility of an FTAAP. Discussions for an FTAAP do not contradict Korea's strategic FT A plans and, as a result, Korea has maintained an interest in promoting an FTAAP as a long-term plan rather than a short-term plan. Finally, much research is needed on the feasibility of an FTAAP and how best to promote an FTAAP to increase economic cooperation and the unification of APEC member states in the future.