Roh says opening of beef market inevitable
Yonhap News, Seoul
Roh says opening of beef market inevitable
20 March 2007
SEOUL, March 20 (Yonhap) — South Korean President Roh Moo-hyun said Tuesday that South Korea will have no choice but to open its beef market to U.S. products and hasten preparations for a free trade agreement (FTA) deal with China.
"The U.S. is threatening to scrap FTA talks with South Korea without the opening of the Korean beef market, though beef trade is not on the agenda of the FTA negotiations," Roh said during the presentation of the nation’s 2007 agricultural policies in Seoul.
"I think that the U.S. will continue to call for the opening of the beef market, regardless of the conclusion of the FTA with South Korea. We’re already buying beef from Australia and other foreign countries. I’m not demanding an immediate opening, but a gradual opening," said the president.
Roh said last week that his government may choose to scrap free trade negotiations with the United States if South Korea’s economic interests are not properly reflected in the final deal.
South Korean and U.S. negotiators wrapped up their eighth round of FTA talks in Seoul last Monday, though there still remained wide gaps in the issues of beef, automobiles and some sensitive agricultural products. U.S. negotiators must submit a free trade deal to Congress by April 2 for a 90-day review before President George W. Bush’s fast-track trade promotion authority expires on July 1.
Meanwhile, Roh also stressed the necessity for an FTA deal with China.
"An FTA with China will be inevitable in the future. The South Korean government has been investing heavily in the restructuring of the nation’s agricultural sector in preparation for the FTA with China," said Roh, noting an average of 16 trillion won (US$16.8 billion) has been annually pumped into the agricultural sector over the past decade.
