Proposals to Safeguard Measures in Korea’s Future Preferential Trade Agreements
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The proliferation of preferential trade agreements (PTAs) is one notable phenomenon in recent international trade. Korea is actively participating in this trend by concluding a series of free trade agreements (FTAs) with its trading partners. Although PTAs promote internal trade liberalization, trade remedies including safeguard measures may act as a trade barrier because they hinder free flow of products from their countries of origin into importing countries. This article briefly reviews some points of PTAs. Then, it presents proposals to safeguard measures for Korea’s future PTAs. The proposals are made for bilateral and global safeguards, considering the fact that all existing PTAs of Korea have both types of safeguards. However, the proposals include stricter requirements than those of the GATT and the Agreement on Safeguards. Some proposals may be applicable to both bilateral and global safeguards. Some proposals for bilateral safeguards are different from those for global safeguards applied to the other PTA parties, due to the difference in nature between them. Proposals to prevent a simultaneous or a continuous application of a safeguard measure against a product, which has been subject to another safeguard measure, are also presented. The proposals presented in this article will be helpful in negotiations for safeguard measures of Korea’s future PTAs since they are viable ones based on comparing the relevant provisions of existing PTAs.
Abstract
The proliferation of preferential trade agreements (PTAs) is one notable phenomenon in recent international trade. Korea is actively participating in this trend by concluding a series of free trade agreements (FTAs) with its trading partners. Although PTAs promote internal trade liberalization, trade remedies including safeguard measures may act as a trade barrier because they hinder free flow of products from their countries of origin into importing countries. This article briefly reviews some points of PTAs. Then, it presents proposals to safeguard measures for Korea’s future PTAs. The proposals are made for bilateral and global safeguards, considering the fact that all existing PTAs of Korea have both types of safeguards. However, the proposals include stricter requirements than those of the GATT and the Agreement on Safeguards. Some proposals may be applicable to both bilateral and global safeguards. Some proposals for bilateral safeguards are different from those for global safeguards applied to the other PTA parties, due to the difference in nature between them. Proposals to prevent a simultaneous or a continuous application of a safeguard measure against a product, which has been subject to another safeguard measure, are also presented. The proposals presented in this article will be helpful in negotiations for safeguard measures of Korea’s future PTAs since they are viable ones based on comparing the relevant provisions of existing PTAs.
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