Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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Economic Effects of FTA Logistics Hub Utilizing Direct Transportation Rules of Origin in RCEP

RCEP 직접운송원칙을 활용한 우리나라의 FTA 물류 허브 가능성과 경제적 효과

  • Byeong-Ho Lim (Korea Maritime Institute, Fisheries Policy Research Division)
  • 임병호 (한국해양수산개발원 수산연구본부)
  • Received : 2021.05.30
  • Accepted : 2021.06.24
  • Published : 2021.06.30
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Abstract

This study analyzes the economic effect through the use of the RCEP direct transport rules, and suggests the necessacity of logistics efficiency and policy alternatives. The advantage of the hub network has been widely applied to the international logistics system, but there is a limit in the FTA logistics system in which goods must be directly transported between two contracting parties. Therefore, based on the new RCEP direct transport rules and the theoretical review on the possibility of an FTA logistics hub, FTA logistics efficiency improvement is estimated. This study quantitatively estimated the economic effect of direct transportation, unlike the previous studies, which were limited to the analysis of judicial precedents or surveys. GTAP model was used through five scenarios according to the impact of the RCEP tariff cut and the FTA logistics hub establishment in Singapore or Korea. As a result of the analysis, Korea's trade volume increased by 0.38% of exports and 1.63% of imports, and RCEP would increase exports by 0.27% and imports by 0.42%. In particular, the establishment of an FTA logistics hub (0.71%) was found to have a greater effect on the improvement of terms of trade than a tariff cut (0.12%), confirming the necessity of establishing an FTA logistics hub in RCEP. As a policy proposal, the institutional support of the customs authorities for the use of RCEP, the expansion of the free trade area where BWT traded cargo can be stored, and the establishment of a system for issuing back-to-back certificates of origin with approved exporters.

Keywords

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