Contents
1. Introduction.. 1
2. Literature Review.. 1
3. Purpose of Establishing APEC and its Influence on China-Korea Trade . 2
3.1 Purpose of Establishing APEC 3
3.2 Influence of APEC on China-ROK Trade .. 3
4. China-ROK FTA before 2014 . 6
4.1 Negotiation of China-ROK FTA before 2014 .. 6
4.2 Barriers of China-ROK FTA Negotiation before 2014. 7
4.3 Factors Promoting Further Negotiation of China-ROK FTA. 8
5. China-ROK FTA after 2014 Beijing APEC . 10
5.1 Drafting China-ROK FTA.. 11
5.2 Significance of Signing China-ROK FTA in the Near Future 11
6. Conclusion .. 16
Works Cited. 17
1. Introduction China and South Korea are contiguous to each other. These two countries are highly complementary in natural resources, labor resources and industrial structure, which leads to their cooperation in various industries. Since China and South Korea established diplomatic relation in August 24, 1992, China-ROK (China and Republic of Korea) trade has achieved a boom and mutually beneficial cooperation. They become an important trading partner to each other. China and South Korea strengthen their bilateral relations and cooperation continually in bilateral relations, and jointly promote the process of cooperation in Northeast Asia. The volume of trade between China and South Korea was just over 50 billion dollars at the establishment of diplomatic relations in 1992; however, the volume of trade is expected to arrive at 3,000 billion dollars in 2015, said Mr. Xi Jinping on July 3rd, 2014. In what kind of situation has China-ROK trade developed so quickly? First, we must mention Asia-Pacific Economic Cooperation, or APEC. Along with the development of APEC, the trade form between China and South Korea has transformed from indirect trade to direct trade. Moreover, after 2014 Beijing APEC meeting, China and South Korea have come to an agreement on Free Trade Agreement (FTA). In this case, we can tell that the trade relation between China and South Korea has become more important than ever.