GTAP Resources: Resource Display
| GTAP Resource #6462 |
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"Impact of UK – Japan Free Trade Agreement Options for UK and Japan " by Khan, Muhammad Omer Abstract Trade liberalization has been marked as stanchion for economic development. After the succession of Brexit, the British government strives for trade agreements with its trading partners. Against this background, UK has successfully signed and implemented bilateral free trade agreement with Japan in January 2021. Both countries are developed and have good correspondence. In this circumstance, the research concentrates on implication of UK – Japan bilateral free trade agreement along with additional scenario of bilateral five percent trade facilitation paired with liberalized trade using computable general equilibrium (CGE) approach. The outcome from the analysis suggests that the implementation of UK – Japan bilateral FTA along with trade facilitation would stimulate and intensify the economic indicators of both UK and Japan better than implementation of bilateral trade liberalization. Additionally, the research also implies that among the scenarios; real income from factors would depreciates for both countries except UK (from liberalization). The shrinkage of real income from factors has been idealized inferior from the scenario of bilateral five percent trade facilitation along with liberalized facility. Moreover, in both cases; the real GDP, real imports and terms of trade would be adversely affected of the remaining countries especially India, Korea, United States, Brazil, China, Canada, Indonesia, Australia, EU (27), Pakistan, Vietnam and Rest of World. |
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Last Modified: 9/15/2023 2:05:45 PM
