South Korea, Japan to hold free trade negotiations next week
Bernama | December 16, 2009
South Korea, Japan To Hold Free Trade Negotiations Next Week
SEOUL, Dec 16 (Bernama) — South Korea and Japan will hold the fourth round of their bilateral free trade talks next week here in Seoul next week, Seoul’s trade ministry said Wednesday, reported China’s Xinhua news agency.
The South Korean side will be represented by some 20 officials from related ministries namely Foreign Ministry, Knowledge and Economy Ministry, Agriculture Ministry, and Welfare Ministry, the Foreign Ministry said in a press release.
As a result of a summit agreement on resuming working-level free trade talks between the leaders of South Korea and Japan in April 2008, three rounds of negotiations have been held, with the latest one coming in July 2009.
Originally launched in December 2003, bilateral free trade talks have been continued to November 2004 in six rounds, but the discussions have been stalled for over four years on disputes over opening agriculture and fisheries markets.
Currently, South Korea has free trade agreements with Chile, Singapore and the European Free Trade Association, as well as a similar pact with the Association of Southeast Asian Nations (Asean), reported Xinhua citing the press release.
Recently reaching a free trade deal with the European Union, the country also wrapped up its free trade talks with India, settling the so-called comprehensive economic partnership agreement (CEPA) in August.
With respect to the free trade deal with the United States, signed in June 2007, both countries are waiting for legislative approval.
South Korea is also seeking similar trade deals with Australia, Canada, and Mexico.
