The government launched a forum on Friday to seek new strategies for free trade agreements(FTA) in line with the changing global trade environment.

Experts attending the inaugural forum hosted by the trade ministry called for an in-depth and strategic analysis, stressing that analyzing the economic effects of FTAs offers the basis for future strategies.

They also advised the government to consider characteristics of different types of trade pacts in the analyses, and to extend its scope to include the consequent effects of participation in global supply chains and intermediary goods.

The international trade environment is rapidly changing due to the expansion of trade protectionism, intensifying Sino-U.S. rivalry, and a transition to digital and green economies post-pandemic.

FTAs have also taken various formats, such as mega FTAs and pacts specializing in specific fields.

The ministry plans to host five to six additional forums this year.