USTR, S Korea trade minister renew support for trade pact
Dow Jones Newswires
USTR, S Korea Trade Minister Renew Support For Trade Pact
14 September 2006
By Rebecca Christie, Dow Jones Newswires
WASHINGTON -(Dow Jones)- The top trade officials for the U.S. and South Korea renewed their support for a free trade agreement between the two countries, at a meeting in Washington this week, the U.S. Trade Representative’s office said Thursday.
U.S. Trade Rep. Susan Schwab met for about an hour with South Korean Trade Minister Kim Hyun Chong on Wednesday. The meeting follows three rounds of trade talks aimed at reaching an FTA deal by year-end.
"Both ministers reaffirmed their commitment to and the importance of the FTA negotiations," USTR spokeswoman Gretchen Hamel said. "They agreed to work closely together to move the negotiations forward."
Schwab emphasized U.S. concerns about the automotive sector, pharmaceuticals and agriculture as particular areas of importance, USTR said. U.S. officials have said they sweetened their offer of tariff cuts at last week’s meeting in Seattle, but South Korea has not offered corresponding improvements to its tariff offer.
Another round of trade talks is set for October.
This week’s trade meeting took place alongside a visit to the White House by South Korean President Roh Moo-Hyun. Roh and President George W. Bush touched on the trade pact as part of their Oval Office meeting Thursday.
