Canada and South Korea are currently negotiating an FTA. The talks began in July 2005 but are yet to be concluded.
Both countries are aiming for a comprehensive agreement, with the Canadian government’s sights set on increasing food and forestry exports to Korea. But the implications for Canada are huge. Canada currently imports more cars than it exports and a deal with Seoul — headquarters of KIA, Hyundai and Daewoo (GM) — could gut Canada’s industry and with it 15,000 jobs. Korean farmers, labour groups and consumers, for their part, expect negative impacts on Korean food and agriculture. This includes strong potential problems around beef (numerous outbreaks of mad cow disease have already occurred in Canada) and barley.
last update: May 2012 | logo from the Canadian Auto Workers Local 200
The absence of a free trade deal between South Korea and Canada is the weakest link in their bilateral relations, and the two countries need to conclude one this year to deepen their partnership in a wider range of areas, Canada’s visiting governor general said Tuesday.
Korean President Lee Myung-bak and Canadian Prime Minister Stephen Harper have agreed to re-open negotiations for a bilateral free trade agreement within this year.
With the US Congress approving its free trade deal with South Korea last week, Canadian pork could soon be shut out of its third largest market.
A coalition of Canadian agricultural commodity groups is calling on Canada’s premiers and agriculture ministers to express their support the immediate resumption of free trade talks with the Republic of Korea.
It is Canada’s forgotten trade deal.
Free trade negotiations with South Korea began in 2004. And nearly seven years later, there’s still no pact.
Canadian pork producers and packers fear consequences of lagging behind Chile, United States and Europe in key Asian market
Canadian companies risk losing ground in South Korea now that both the United States and the European Union have sealed free-trade deals with the Asian export powerhouse.
Korea is wiling to lift its six-year-old ban on Canadian beef, President Lee Myung-bak sad yesterday after a summit with Canadian Prime Minister Stephen Harper.
Trade Minister Stockwell Day, in Asia on a 10-day mission, took steps Thursday to improve Canada’s trading partnerships in the region even as relations with South Korea worsened over that country’s "unjustified ban" of Canadian beef.
New South Korean Ambassador Ha Chan-ho says the financial crisis has put the brakes to finishing the Canada-Korea free trade agreement.