Korea ranks 6th among G20 nations in number of investment deals
Arirang | Jun 18, 2010
Korea Ranks 6th Among G20 Nations in Number of Investment Deals
Korea came in sixth among Group of 20 economies in the number of investment deals held.
An Organization for Economic Cooperation and Development report shows that as of the end of May Korea had 106 international investment agreements with most being bilateral trade deals.
The number puts Korea in a tie with the United States for sixth place among G20 nations.
Germany topped the list with 199 accords followed by Britain, France, Italy and China.
Japan and Australia had the lowest number of investment pacts.
An international investment agreement covers issues related to cross-border investments usually for the purpose of protection, promotion and liberalization.
Korea’s high ranking implies that the nation is one of the most open markets for international investment.
This is thanks to the country’s prioritization of reaching investment deals including free trade agreements since the year 2000 to expand trade for further economic growth.
Korea’s Finance Ministry says the government is putting forth an all-out effort in signing FTAs with major economies due to the country’s heavy reliance on exports.
The government says its current goal is to implement the pending FTA with the US and to launch bilateral trade negotiations with China and Japan.
Jang Sou-ie, Arirang News.
JUN 18, 2010
