The year 2017 marks the sixth anniversary of the EU’s FTA with South Korea, which was hailed as a first step towards a renewal of Europe’s involvement in Asia. This happened however against a backdrop of growing scepticism in the world towards globalization and liberalisation of trade, which prompts the question whether the EU’s FTA negotiations with Japan will progress as smoothly as they did with Korea. The objective of this research is to draw lessons from the six-year-old EU-Korea FTA that can be applied to the EU-Japan FTA. This research offers a qualitative explanatory and comparative analysis that delivers insights into the background and contents of both FTAs, together with the goals and expectations of the parties involved. The supporting quantitative data is retrieved from online databases, including Eurostat, the IMF, OECD and WB. The results show that lessons can be learned on three distinct levels. First of all, with regards to the wider context wherein the FTAs take place, the rising scepticism against FTAs has led the EU to now incline more towards transparency than confidentiality. Secondly, regarding the content of the FTAs, both have largely similar outlines regarding tariff and NTB elimination and public procurement and services liberalisation. However, the EU-JP FTA is expected to have a more robust TSD chapter, and is likely to include an investment chapter as well as a dispute settlement system, unlike its predecessor. Finally, regarding the negotiation process, thanks to the increased transparency, the EU-JP FTA is expected to include more input from civil society and to be less influenced by private interests.
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Six years of free trade: What lessons could the EU-Japan FTA draw from the Korean experience?
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