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Implications of the US -South Korea Free Trade Agreement on Agricultural Exports from the US

Author

Listed:
  • Srinivasa Konduru

    (Assistant Professor, Dept. of Agricultural Business, California State University, USA.)

  • Tae Hun Kim

    (Department of Agricultural Development Research, Korea Rural Economic Institute (KREI), South Korea.)

  • Mechel Paggi

    (Director, Center for Agribusiness, California State University Fresno, Fresno, CA.)

Abstract

The United States-S. Korea Free Trade Agreement (KORUS FTA) became effective in 2012 and is expected to create new opportunities and improve access for one another’s markets. It is expected to benefit the US agricultural sector particularly as S. Korea maintains high trade barriers for agricultural imports. This paper analyses the impact of KORUS FTA on the agricultural exports from the US with an example of table grapes. The results obtained by using the Import demand estimation method show that table grape exports will become more competitive in S. Korea due to the KORUS FTA. The paper also calculates preference indices for various agricultural imports from the US and rest of the world before and after the free trade agreement in S. Korean agricultural markets. This will help in understanding the implications of KORUS FTA not only on the US-S. Korean agricultural trade, but also between S. Korea and the rest of the world.

Suggested Citation

  • Srinivasa Konduru & Tae Hun Kim & Mechel Paggi, 2014. "Implications of the US -South Korea Free Trade Agreement on Agricultural Exports from the US," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 2(3), pages 46-56, June.
    • Handle: RePEc:lrc:lareco:v:2:y:2014:i:3:p:45-54
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    Cited by:

    1. Sayeeda Bano & Frank Scrimgeour, 2017. "New Zealand and Indian Trade in Agricultural and Manufactured Products: An Empirical Analysis," Working Papers in Economics 17/26, University of Waikato.

    More about this item

    Keywords

    Free trade agreement; KORUS; Market access.;
    All these keywords.

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • F1 - International Economics - - Trade
    • F6 - International Economics - - Economic Impacts of Globalization

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