Conception Of Concluding China-Korea Sub-regional FTA

Border trade between China and Korea plays a role not to be ignored in foreigneconomic development. China, especially Yanbian, is the most important foreign trade partnerto Korea. There are certain restrained factors in the trade, as its own features as well.Prospects of world-wide economic integration and FTA concluding is expanding. Meanwhile,economic development strategy of Flourishing Northeast in China and a series of neweconomic development initiatives in Korea offer a rare opportunity for economic integrateddevelopment in the region. China encounters with lots of practical obstacles after enteringWTO, which proves that WTO isn't a master key to free trade in the world. On the contrary,double FTAs become an icebreaker with its unique vigor. China has already taken it as a mainstrategy the double FTAs concluding in the frame of WTO agreement so as to break the ice.As far as Korea is concerned, it is temporarily impossible to satisfy the essential requirementsof joining in WTO due to it's special conditions. Therefore, Signing a number of FTA deals isbelieved as a practical choice for the time being. Yanbian, located in the border area betweenChina and Korea, can be served as a part of the trans-regional FTA (free trade area) under thesub-regional FTA (free trade agreement) by virtue of its special regional advantageous. Thethesis analyzes the feasibility of the conception and indicates that China plays an active partin starting the weakest link, Korea, of the economic circle of East Asia. It is thus clear thatconcluding the China-Korea sub-regional FTA are bound not only to benefit the cooperationof the two countries to develop economy, but also to bring tremendous immediate andlong-term push to East Asian economic integration. Furthermore, the double FTA will be inharmony with WTO trade system. The conception will be surely helpful to make a great strideinto global free trade.