Korea seeks to keep 288 farm products out of FTA
Chosunilbo, Korea
Korea Seeks to Keep 288 Farm Products Out of FTA
24 August 2006
Korea has asked the U.S. for “exceptional treatment” of 288 agricultural products or 20 percent of 1,452 agricultural items in their planned free trade agreement, a high-ranking government official said Wednesday. Products on the list are either wholly protected from market opening or only a certain quota of them receives tariff-free access. But a bumpy road lies ahead in FTA negotiations since the U.S., in proposals swapped on Aug. 15, made it clear it wants the entire agricultural market thrown wide open within 10 years after the trade pact goes into effect.
The government official said the 288 products include rice and beef. But he admitted it will be difficult for Korea to get concessions in the field since Washington seems adamant on the point. The two countries hold a third round of free trade talks for four days in Seattle from Sept. 6. Delegates are to identify agricultural, manufactured goods and textiles that would be protected from market opening.
The two sides are also at odds over the timetable for cutting tariffs on agricultural goods. Under the Korean proposal, tariffs on some products would be lifted immediately the trade pacts goes into effect, and duties on some will be removed within five years, on some within 10 years, and on some within 15, with some wholly protected. But the U.S. wants to scrap tariffs within 10 years at the most, including the rice market, which is the most precious to Seoul.
In the FTA with ASEAN signed in May, Korea put 65 agricultural items including rice on the reserved list. They also agreed to cut tariffs on 188 items by 20 percent and on 36 items by 50 percent within 10 years. For eight items, tariffs will only be lowered for a certain quota.
