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    Main Characteristics of Bilateral Trade between Iran and South Korea: Focusing on Trade Diversification

    Zamani, Zahra | November 2018
    Abstract
    South Korea and Iran enjoy economic ties covering many sectors and activities. Iran is one of Korea’s largest trade partners in the Middle East and its fourth-largest supplier of crude oil. In recent years, South Korea has imported 87 percent of its oil from the Middle East, and Iran has become one of its top suppliers. Although bilateral trade between Iran and South Korea reached a maximum of more than US$12 billion in 2017, the US’ withdrawal from the Iran nuclear deal on May 2018 and its new plans for re-imposing sanctions on Iran may affect Iran-Korea bilateral trade. This demonstrates how earnings from Iran’s trade relations are somehow fragile against sanctions, and due to this fact the expansion of non-oil exports on the basis of an export leap strategy can be considered as a major goal of Iran’s development plans in trade and business. In this situation, it will be essential to identify areas with good prospects to enhance exports and diversify trade between Iran and its trading partners like South Korea. South Korea should play a volunteering and constructive role in collaboration with Iran. The long-standing relations and existence of several bilateral economic and trade agreements between the two nations indeed require a careful and in-depth study of the economic and trade positions of both countries.
    Citation
    Zamani, Zahra. 2018. Main Characteristics of Bilateral Trade between Iran and South Korea: Focusing on Trade Diversification. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/9414.
    ISSN
    2233-9140
    Keywords
    Free Trade
    Trade Facilitation
    Trade
    Economic integration
    Regional Economic Integration
    Intraregional Trade
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade policy
    Trade Regulations
    Exchange Rate
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/9414
    Metadata
    Show full item record
    Thumbnail
    WEB18-29.pdf (325.2Kb)
    Author
    Zamani, Zahra
    Theme
    Trade
    Economics

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise