GDP projected to grow 0.38% over 10 years following CPTPP membership
Korea's economy is projected to grow by 0.38 percent over the 10 years following its potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the industry ministry said Monday. The government released the projection after conducting a comprehensive analysis of the potential impact of Korea's CPTPP membership on the macroeconomy, manufacturing and…
According to the Ministry of Trade, Industry and Resources, Korea's economy is expected to grow by 0.38 percent over the next ten years following potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The projection was made after a thorough analysis of the potential economic impact of CPTPP membership on various sectors, including manufacturing, small and medium-sized enterprises (SMEs), agriculture, fisheries, and forestry.
The analysis involved the collaboration of several government ministries and their research institutes. The forecast indicates that Korea's GDP would be 0.38 percentage points higher cumulatively in the first decade following CPTPP membership compared to if the country had not joined the trade pact. The growth is anticipated across different sectors, with specific details not provided in the source.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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