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Korea, U.S. to discuss country of origin for Gaeseong products
By Korea HeraldPublished : Oct. 6, 2013 - 20:26
Korea and the United States will hold a special committee next month to discuss whether or not to label Gaeseong-manufactured products as Korean-made, according to the Ministry of Trade, Industry and Energy.
MOTIE Minister Yoon Sang-jick and U.S. Trade Representative Michael Froman met in Bali, Indonesia, on Saturday to attend the second joint committee of the Korea-U.S. Free Trade Agreement.
After reviewing the progress since last year’s initial meeting in May, the two counterparts agreed to hold a special committee on Nov. 4-5 on extra-regional manufacturing, focusing on products made in the Gaeseong Industrial Complex, ministry officials said.
They are also to discuss ongoing trade issues such as the Korea-China bilateral FTA negotiations and the possibility of Korea joining the U.S.-led Trans-Pacific Partnership round.
The date was selected in consideration of the recent inter-Korean relations and the possibility of the normization of the Gaeseong industrial complex in North Korea.
“We continuously worked to bring the extra-regional issue to the forum but the schedule has been delayed due to the inter-Korean tension,” said a MOTIE official.
When the bilateral trade pact took effect in March, 2012, the two states agreed to hold an extra-regional committee on Gaeseong products after the first anniversary of the FTA’s effectuation.
The Ministry of Unification, too, pledged its best efforts to include Gaeseong products in the list of Korea-manufactured items but the current prospects are yet uncertain, due to North Korea’s uncooperative attitude.
The industrial park first opened back in 2004 in an aim to improve the inter-Korean ties and to optimize the capital and human resources of both Koreas but its operation was suspended in April this year amid rising tension.
By Bae Hyun-jung (tellme@heraldcorp.com)
MOTIE Minister Yoon Sang-jick and U.S. Trade Representative Michael Froman met in Bali, Indonesia, on Saturday to attend the second joint committee of the Korea-U.S. Free Trade Agreement.
After reviewing the progress since last year’s initial meeting in May, the two counterparts agreed to hold a special committee on Nov. 4-5 on extra-regional manufacturing, focusing on products made in the Gaeseong Industrial Complex, ministry officials said.
They are also to discuss ongoing trade issues such as the Korea-China bilateral FTA negotiations and the possibility of Korea joining the U.S.-led Trans-Pacific Partnership round.
The date was selected in consideration of the recent inter-Korean relations and the possibility of the normization of the Gaeseong industrial complex in North Korea.
“We continuously worked to bring the extra-regional issue to the forum but the schedule has been delayed due to the inter-Korean tension,” said a MOTIE official.
When the bilateral trade pact took effect in March, 2012, the two states agreed to hold an extra-regional committee on Gaeseong products after the first anniversary of the FTA’s effectuation.
The Ministry of Unification, too, pledged its best efforts to include Gaeseong products in the list of Korea-manufactured items but the current prospects are yet uncertain, due to North Korea’s uncooperative attitude.
The industrial park first opened back in 2004 in an aim to improve the inter-Korean ties and to optimize the capital and human resources of both Koreas but its operation was suspended in April this year amid rising tension.
By Bae Hyun-jung (tellme@heraldcorp.com)
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Articles by Korea Herald
