The Status Quo and the Prospect of China-Korea Trade Facilitation: The Case of the Possible CKFTA Framework

The possible CKFTA framework is a major way to promote the facilitation of the bilateral trade between China and Korea.The both sides have taken a series of initiatives,such as simplified customs clearance procedures,e-commerce and so on,to accelerate the bilateral trade facilitation.At present,China's progress trade facilitation is slightly lower than that of Korea.With the possible CKFTA talks,trade facilitation and cooperation between the two countries have developed.Meanwhile,the two countries are also facing challenges such as the pressure of opening the domestic market to some sensitive products,and their bilateral trade is susceptible to the changing political situation.It is of great significance to deepen the Sino-Korea trade facilitation cooperation and to promote the level of bilateral trade facilitation.The two parties can have cooperation in such areas as trade procedures,dispute settlement mechanism,the verification of origin and mutual customs assistance.