Related Keywords: abolishe all import duties among its signatories, complicated rules of origin, failing to join TPP, join the mega-FTA, Korea Economic Research Institute report. US led FTA, Korea export of parts and material, price competitiveness, set up new business models, shipments via global supply networks, suffer losses
Korea likely to suffer losses of 15.5 trillion won ($13.3 billion) in its export of parts and materials over 10 years failing to join the Trans-Pacific Partnership agreement, a think tank said on Thursday.
According to the Korea Economic Research Institute report, Korea's exports of parts and materials to the United States are estimated to drop $11.3 billion in terms of added value, for 10 years after the TPP goes into effect, if the U.S.-led free trade agreement abolishes all import duties among its signatories.
