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A Study on Trade Structure Analysis between Korea and GCC(Gulf Cooperation Council) Countries

한국과 걸프협력회의(GCC)국가 간의 교역구조분석에 관한 연구

  • Chung, Tae-Won (Sungkyul University, Dept. of East Asian Studies & Logistics)
  • 정태원 (성결대학교 동아시아 물류학부)
  • Received : 2016.08.17
  • Accepted : 2016.11.20
  • Published : 2016.11.28

Abstract

Although growth potential of trade between Korea and the GCC region has existed in various fields through economic and business cooperation, few data and practical study related with trade structure and cooperation between Korea and GCC region have been found and the potential for further economic expansion has not been extensively explored. In this sense, this study is to analyze trade flows between Korea and GCC region countries(Saudi Arabia, Unites Arab Emirates, Qatar) using trade intensity index, trade complementarity index and special country bias index, identify potential for further expansion of Korea's trade into the GCC region and further propose the implication of FTA between mutual countries. Our analysis of trade flows also demonstrates that there is a high level of trade complementarity between Korea and GCC region. It means that increase of trade complementarity and special country bias come from removing not only trade barrier and increasing but also capital movement. Especially, the study reveals that there is an untapped potential for Korea to increase its exports to Saudi, based on the highest complementarities. Export expansion between Korea and Saudi through FTA will create new opportunity in near future.

Keywords

Trade Intensity;Trade Complementarity;Special Country Bias;Trade Structure;GCC

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