Multilateral and Bilateral Economic Cooperation in Northeast Asia

Yana Valeryevna Dyomina ()
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Yana Valeryevna Dyomina: Economic Research Institute FEB RAS

Spatial Economics=Prostranstvennaya Ekonomika, 2020, issue 3, 156-180

Abstract: The review is devoted to the formats of bilateral and multilateral economic cooperation of the Northeast Asia (NEA) countries. NEA comprises six countries that account for 23,3% of the worldÒs population, 25,7% of the global GDP and 22,1% of the worldÒs merchandise exports. Despite their considerable potential, the NEA countries do not have six-party agreements on trade, investment, customs or migration cooperation, preferring projects with a wider range of participants. There are no such agreements on a trilateral basis between the ÑBig ThreeÒ countries, which include China, Japan and the Republic of Korea and act as the NEA ÑlocomotiveÒ. These areas of cooperation are developed mainly on a bilateral basis. The majority of free trade agreements (FTAs) signed by NEA countries are with non-regional partners. At the same time, the DPRK is characterized by a complete lack of agreements, and Russia does not have agreements with subregional partners. Currently there are only two bilateral FTAs in force between the NEA countriesàÖ China-Republic of Korea Free Trade Agreement and Japan-Mongolia Economic Partnership Agreement. The process of negotiations and implementation of agreements (both multilateral and bilateral) is significantly complicated by the periodic aggravation of Sino-Japanese and Korean-Japanese relations, as well as the DPRK nuclear weapons issue

Keywords: FTA; Northeast Asia; China; Japan; DPRK; Republic of Korea; Mongolia; Russia (search for similar items in EconPapers)
JEL-codes: F15 F51 F53 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:far:spaeco:y:2020:i:3:p:156-180

DOI: 10.14530/se.2020.3.156-180

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