A Study on FTA Partner Selection: A Focus on a Land Locked Developing Country, Mongolia

다국어 초록 (Multilingual Abstract)

Free Trade Agreements (FTAs) account for roughly ninety percent of the total Regional Trade Agreements in force. However, FTAs have always encountered frequent criticism since not all parties to these agreements have attained success. This is particularly true for developing and least developed countries that are engaged in FTAs with developed countries. Thus, less developed countries such as Mongolia should strive to find the most appropriate FTA partners in order to make the agreement successful. This study identifies the most appropriate FTA partners for the landlocked developing country of Mongolia. In doing so, this study organizes basic criteria considering various dimensions and makes several recommendations for policymakers as they consider further signatories. The identified criteria detail who should be the most appropriate partner country for Mongolia and also show when the agreement can be enacted for Mongolia. Finally we reveal that an FTA-oriented policy is not the right path for Mongolia with its relatively weak position and suggest that the country should avoid enacting FTAs until it improves and diversifies its industrial base. The methods used in this paper may also make a significant contribution to other landlocked developing countries like Mongolia that are also determining their appropriate FTA partners.

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