This economic recovery has undoubtedly been fostered by wide-ranging
structural reforms and the maintenance of outward-oriented trade and
investment policies as far as manufacturing and services are concerned.
The recovery was also facilitated by a favourable external economic
environment, the report says.
Nonetheless, the WTO Secretariat report notes that Korea faces several
related economic challenges. These include sluggish domestic demand,
resulting in possible over-reliance on exports as the main source of
current growth, and the need for further trade liberalization and
structural reforms to develop a more competitive economy.
The WTO report, along with a policy
statement by the Government, will be the basis
for the Trade Policy Review (TPR) by the
Trade Policy Review Body of the WTO.
following documents are available in MS Word format.
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Trade Policy Reviews are an exercise, mandated in the WTO agreements,
in which member countries’ trade and related policies are examined and
evaluated at regular intervals. Significant developments that may have
an impact on the global trading system are also monitored. For each
review, two documents are prepared: a policy statement by the
government of the member under review, and a detailed report written
independently by the WTO Secretariat. These two documents are then
discussed by the WTO’s full membership in the Trade Policy Review Body
(TPRB). These documents and the proceedings of the TPRB’s meetings are
published shortly afterwards.
copies of previous TPR publications are available for sale from the
WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211
Genève 21 and through the on-line
TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.
Schedule of forthcoming reviews
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Rwanda: 28 and 30 September
Norway: 11 and 13 October 2004
European Union: 25 and 27 October 2004