Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
South Korean military plans to launch new division for future warfare
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
Fourth round of FTA talks with Japan, China begins in Seoul
By Seo Jee-yeonPublished : March 4, 2014 - 20:27
A fresh round of negotiations for a three-way free trade agreement with Japan and China began in Seoul on Tuesday with the countries expected to focus on setting the overall level of market liberalization.
The fourth round of negotiations, to continue until Friday, comes a little over two months after the last session in Tokyo, in which the three countries made what South Korean officials have called minor but significant progress in setting the overall guidelines for negotiations, especially in terms of opening the markets for products.
The trilateral agreement, if realized, will create one of the world’s largest markets as the three countries jointly account for 20 percent of the global gross domestic product and 17.5 percent of global trade.
South Korea’s Trade Minister Yoon Sang-jick, however, said a major breakthrough was unlikely to emerge from this week’s FTA talks.
“Negotiations do not always go smoothly. In certain cases, (the countries) must engage in a tug of war,” Yoon told reporters on Monday.
“It does not mean negotiations are not moving forward just because there is no (visible) progress. It rather means the negotiations are moving toward an end,” he added.
Officials have expected stumbling blocks in the negotiations, launched a year earlier in Seoul, as farmers in South Korea and Japan strongly oppose free trade deals over concerns about cheap farm products flooding into their markets.
The same issue is believed to have prevented a resumption of negotiations for a South Korea-Japan bilateral FTA, suspended since 2004.
South Korea and China, too, are engaged in separate negotiations for a bilateral FTA whose 10th round of talks is set for later in the month. (Yonhap)
The fourth round of negotiations, to continue until Friday, comes a little over two months after the last session in Tokyo, in which the three countries made what South Korean officials have called minor but significant progress in setting the overall guidelines for negotiations, especially in terms of opening the markets for products.
The trilateral agreement, if realized, will create one of the world’s largest markets as the three countries jointly account for 20 percent of the global gross domestic product and 17.5 percent of global trade.
South Korea’s Trade Minister Yoon Sang-jick, however, said a major breakthrough was unlikely to emerge from this week’s FTA talks.
“Negotiations do not always go smoothly. In certain cases, (the countries) must engage in a tug of war,” Yoon told reporters on Monday.
“It does not mean negotiations are not moving forward just because there is no (visible) progress. It rather means the negotiations are moving toward an end,” he added.
Officials have expected stumbling blocks in the negotiations, launched a year earlier in Seoul, as farmers in South Korea and Japan strongly oppose free trade deals over concerns about cheap farm products flooding into their markets.
The same issue is believed to have prevented a resumption of negotiations for a South Korea-Japan bilateral FTA, suspended since 2004.
South Korea and China, too, are engaged in separate negotiations for a bilateral FTA whose 10th round of talks is set for later in the month. (Yonhap)
