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Image header Agence Europe
Europe Daily Bulletin No. 9844
Contents Publication in full By article 25 / 36
GENERAL NEWS / (eu) eu/trade

South Korea confirms FTA completion postponed

Brussels, 19/02/2009 (Agence Europe) - On Wednesday 18 February, the South Korean minister for trade, Kim Jong-hoon, announced that the 8th and final negotiations on the free trade agreement between the EU and South Korea would be postponed at the request of the European negotiators by “two to three weeks”. Negotiations were initially scheduled for the beginning of March in Seoul. Mr Jong-hoon's announcement confirms postponement of an agreement that they hoped to complete in April. No new date has been set by either party. Following several meetings with experts from member states since January, the EU's senior negotiator, Ignacio Garcia Bercero, is expected to return to the 133 Committee on 20 February in an attempt to convince the EU27 of opportunities for sealing the agreement. Despite clear progress made since December on key dossiers provoking significant disagreements, such as a rules of origin and liberalisation of the auto-industry, the Commission has resigned itself to postponing the 8th negotiating session, faced with pressure from part of European industry and some of the major member states reluctant to endorse further opening up of the Community market to South Korean competition in the current context of global economic crisis. (E.H./transl.rh)

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