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Scholar sees benefits in proposal for Taiwan-South Korea trade

Scholar sees benefits in proposal for Taiwan-South Korea trade

Contemplation and discussion on the possible regional economic cooperation between South Korea and Taiwan is very "well-timed" as closer cooperation will benefit both sides, a South Korean professor said yesterday.
Both South Korea and Taiwan are major trading countries, and they are each other's fifth largest trading partner. The recent crisis regarding the World Trade Organization system and the hype of regionalism can never be favorable to any country that has a high dependency on trade, said Bark Taeho, dean of Seoul National University's Graduate School of International Studies, in the Taipei-Seoul Forum held in Taipei.
Taiwan and South Korea have been competitors in the business world, but they can also collaborate, Bark said, adding that the two countries ought to concentrate on reinforcing the WTO-centered multilateral trade system since Taiwan is a WTO member.
Detailed practical ideas in various organizations, such as the Pacific Economic Cooperation Council, the Pacific Basin Economic Council, and the Asia-Pacific Economic Cooperation forum, should be developed, and efforts to draw up agreements among the countries involved should be made, he said.
Trade between South Korea and Taiwan has grown rapidly despite the absence of formal diplomatic relations between the two countries.


Updated : 2021-04-18 08:54 GMT+08:00