Possibility of Strengthening Regional Value Chain and Economic Cooperation between South Korea and Lao PDR
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This paper suggests the possibility of strengthening regional value chain between South Korea and Lao PDR and reviews some of favorable conditions and challenges in terms of participating in Global value chains (GVCs). Even though the economy of Lao PDR showed the weakness in manufacturing sector, comparing to CMV (Cambodia, Myanmar, and Vietnam) and has retreated in terms of GVCs since 2011, the superiority of labor productivity could encourage offshoring of global foreign companies to Lao PDR as well as Vietnam following post China. However, Lao PDR needs to improve the trade facilitation if Lao PDR wants to increase the possibilities of Lao PDR in terms of participating in regional value chain network or GVCs.
Abstract
This paper suggests the possibility of strengthening regional value chain between South Korea and Lao PDR and reviews some of favorable conditions and challenges in terms of participating in Global value chains (GVCs). Even though the economy of Lao PDR showed the weakness in manufacturing sector, comparing to CMV (Cambodia, Myanmar, and Vietnam) and has retreated in terms of GVCs since 2011, the superiority of labor productivity could encourage offshoring of global foreign companies to Lao PDR as well as Vietnam following post China. However, Lao PDR needs to improve the trade facilitation if Lao PDR wants to increase the possibilities of Lao PDR in terms of participating in regional value chain network or GVCs.
참고문헌 (12)
- Deardorff, A. V., "Terms of Trade: Glossary of International Economics" (2006), World Scientific Publishing
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- Economic Census II 2013, "Lao Statistics Bureau", ~ (2015)
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- Report on Industrial Development of Lao PDR 2017, "Ministry of Industry and Commerce", ~ (2018)
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- "World Economic Forum"[URL]