Beware of long-term impact of China-South Korea FTA: ministry

Focus Taiwan
Date: 2015/06/01
By: Huang Chiao-wen and Kuo Chung-han

Taipei, June 1 (CNA) Presidential spokesman Charles Chen (陳以信) on Monday said

Charles Chen (陳以信)

Charles Chen (陳以信)

political parties should be serious in coping with the impact of China-South Korea free trade agreement (FTA) on Taiwan’s economy, as an official study estimated that Taiwanese exporters could lose US$2.34 billion to US$6.0 billion to their Korean rivals by 2035.

Chen also urged the Legislature to speed up its review of a bill on monitoring pacts between Taipei and Beijing and the trade-in-services agreement with Beijing signed in June of 2013.

Taiwan’s real GDP (gross domestic product) will decrease by 0.04 percentage point one year after the China-South Korea FTA takes effect, according to a study commissioned by the Ministry of the Economic Affairs (MOEA) released in April.     [FULL  STORY]

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