Australia-Republic of Korea FTA Study
In April 2008, a joint non-government study into the feasibility of a free trade agreement between Australia and the Republic of Korea was released. The study, conducted by ITS Global, a Melbourne-based trade consultancy, and the Korea Institute for International Economic Policy (KIEP), concluded that a free trade agreement between Australia and Korea that liberalised substantially all barriers to trade and investment offered significant opportunities to further strengthen our highly complementary and growing bilateral trade and investment relationship, and deliver gains to both countries through closer economic integration. Economic modelling undertaken for ITS estimated that a comprehensive FTA covering goods and services trade and investment would increase the present value of real GDP of Australia by US$22.7bn and of Korea by US$29.6bn over the period 2007-2020.
- Media Release: Study Reveals Gains to Australia from FTA with Korea, Minister for Trade, Simon Crean, 22 April 2008
- Australia-Republic of Korea Joint Non-Government FTA Study (pdf - 800KB)
Disclaimer
This report was written jointly by ITS Global and the Korea Institute for International Economic Policy, as independent consultants engaged by the Governments of the Commonwealth of Australia and the Republic of Korea to inform discussion on the feasibility of a free trade agreement between the Republic of Korea and Australia.
The report is not an official publication of the Australian Government. The writing, research, modelling and editing of the report were undertaken by the independent private consultants, which had ultimate editorial responsibility for the report and its contents. The information contained in the report and the views expressed do not represent and should not be taken to represent the current policy or views, or the future intentions of the Australian Government.
This publication is intended to provide general background information only and when entering into any particular transaction users should rely on their own enquiries, skill and care in using the information, should consult primary sources and should seek independent advice.
The Australian Government, their officers, employees and agents, accept no liability for any loss, damage or expense arising out of, or in connection with, any reliance on any omissions or inaccuracies in the material contained in this publication.
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