To improve knowledge on free trade agreements (FTA) and regional trade agreements (RTA) among members of the Greater Tumen Initiative (GTI), the GTI Secretariat with the Ministry of Commerce of China (MofCom) and the China Association of International Trade (CAIT), organised the GTI Workshop on FTA/RTA Information Sharing on 25th October in Bo’ao. The workshop brought together relevant focal points for GTI member countries as well as academia and international organisations.
The discussion was opened by the Director of GTI Secretariat and the Vice Chairman of CAIT. Both emphasised the fruitful development of the GTI over the last 20 years but also highlighted the significance of setting-up a NEA FTA – especially given the global trend of protectionism and unilateralism.
The first session gave an overview on current trends of regional economic cooperation. Mr. Li pointed out the construction of Border FTAs should be the focus of NEA FTA development. Given Mongolia as the only land-locked trade partner in GTI, Dr. Nomintsetseg highlighted the necessity of NEA regional cooperation for providing Mongolia the access to the sea trade.
In the second session, delegates from four GTI ministerial apartments introduced their respective FTA policies and practice, along with the representative from Malaysia to share good experience from ASEAN aspect.
The following sessions turned into an insight on effects of FTAs in NEA region, on which basis experts analyzed involved issues in developing a sub-regional FTA in NEA. From Korean side, the feasibility of inner Korean FTA as well as integrating DPRK into NEA FTA had also been discussed