The government has launched a renewed push to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This move aims to respond to changing trade environments, including the strengthening of protectionist trends centered on the United States and the restructuring of global supply chains. Relevant ministries, including the Ministry of Trade, Industry and Energy and the Ministry of Agriculture, Food and Rural Affairs, have begun analyzing sector-specific impacts and preparing supplementary measures.
According to government and industry sources on the 30th, ministers from relevant ministries discussed CPTPP membership in a meeting chaired by President Lee Jae-myung. A government official stated, "We understand that the Ministry of Trade, Industry and Energy, the Ministry of Agriculture, Food and Rural Affairs, and other related ministries are gathering opinions to formulate a government-level strategy."
The government has prioritized discussions on supplementary measures, reflecting President Lee Jae-myung's directive that sectors benefiting from trade and those expected to suffer must coexist and thrive together. The plan aims to maximize the anticipated benefits of membership while preparing adequate countermeasures for areas facing potential harm.
In the industrial sector, economic impacts of CPTPP membership will be reviewed with a focus on supply chain stability and diversification of export markets. Efforts are underway to analyze effects on establishing a foothold in the Mexican market, which lacks a free trade agreement (FTA), expanding trade with member countries such as Japan, Vietnam, and Australia, and diversifying global supply chains.
In the agricultural sector, efforts are accelerating for item-specific impact analysis and the development of tailored supplementary measures. The Ministry of Agriculture, Food and Rural Affairs is reviewing support plans to minimize damage by gathering on-site opinions focused on key items such as fruit, livestock, and food grains. Given that CPTPP offers a higher level of liberalization for agricultural, livestock, and fishery products compared to existing FTAs, concerns within the agricultural community are expected to be significant.
Projections indicate that sensitive items like apples and peaches, which were previously exempted from opening in past negotiations, may return to the negotiation agenda. Additionally, further demands for market access from major agricultural export countries such as Japan, Australia, and New Zealand could arise.
The government plans to concretize supplementary measures based on the collection of opinions from the agricultural sector and item-specific impact analysis.
A government official stated, "There is an increasing need to strengthen cooperation with countries that share similar trade norms in order to respond to supply chain restructuring and changes in the global trade order."
in ECONOMY
