- About bilaterals.org
- How to participate
- Key issues
- Texts of agreements
S. Korea, ASEAN sign FTA on services
Korea Times | 11-21-2007
S. Korea, ASEAN Sign FTA on Services
By Kim Yon-se
Korea Times Correspondent
SINGAPORE — South Korea signed an agreement on the services sector with the 10-member Association of Southeast Asian Nations (ASEAN) here Wednesday.
Following the summit between President Roh Moo-hyun and 10 ASEAN leaders, Trade Minister Kim Jong-hoon and 10 commerce ministers from the Southeast Asian countries signed the services free trade deal.
The deal is the third part of a four-step process to reach a ``full’’ Korea-ASEAN FTA by next year.
The two sides signed an agreement on ``basic items’’ and ``goods’’ in August 2006 (first step) and an agreement on ``dispute resolution systems’’ in December 2005 (second step). The agreements went into effect in June 2007.
They are scheduled to sign the last-step accord on ``investment’’ next year.
``The government believes in the importance of the Southeast Asian bloc _ South Korea’s fifth-largest trade partner,’’ an aide to President Roh said. ``Concluding an early FTA is needed because ASEAN is also seeking deals with our major trade competitors.’’
The government believes the two sides agreed on a high level of liberalization, saying that it will free up to 97 percent of all items of goods, while tariffs for 90 percent will be eliminated in stages by 2010.
The agreement will also create a market of 548 million people with a combined economy of more than $1.4 trillion.
A kind of joint declaration signed between leaders from each side, the framework agreement forms the basic structure of the South Korea-ASEAN FTA which would also benefit goods made in the inter-Korean industrial park in the North Korean border city of Gaeseong.
Aside from the signing of the services deal, Korea and the 10 Southeast Asian countries signed a memorandum of understating (MOU) on establishing the Korea-ASEAN Center, which will be built in Seoul.
Through the center, the two sides will seek expansion of trade volume, promotion of tourism and cultural exchanges.
Before the signing of the FTA, Roh and 10 ASEAN leaders agreed to cooperate in resolving the North Korean denuclearization issue and to expand ties in various fields such as regional security.
Roh also discussed countermeasures against environmental and climate issues during the third East Asian Summit (EAS) which includes leaders from India, Australia and New Zealand.
``The EAS leaders exchanged views on sustained regional development, global disasters and cooperation on environmental crises,’’ said Roh’s spokesman Cheon Ho-seon.
News from the movements
1-Jul-2015 SputnikUn ciclo de conferencias organizadas por Los Verdes Europeos recorrerá esta semana numerosas capitales, comenzando este martes en Madrid, para continuar con la campaña internacional de rechazo al Tratado de Libre Comercio que negocia la Unión Europea y Estados Unidos, conocido como TTIP por sus siglas inglesas.
1-Jul-2015 CNCD-11.11.11Human rights organizations have joined the broad Belgian coalition of the trade union confederations, mutuality’s, consumer organizations and environmental and development umbrella NGOs and are asking for an immediate suspension of the TTIP negotiations.
1-Jul-2015 CNCD-11.11.11Des organisations de droits de l’Homme se sont jointes à la coalition belge de syndicats, mutualités, organisations de consommateurs, coupoles d’environnement et de coopération au développement demandant la suspension des négociations du TTIP et conditionnant l’éventuel redémarrage de nouvelles négociations à l’adoption d’un tout autre mandat
AFTINET: Reply to the Department of Foreign Affairs and Trade Myths and Realities document, June 2015The Australian government misrepresents the claims of critics and fails to address substantial criticisms of the Trans Pacific Partnership, says civil society network AFTINET.
30-Jun-2015List of pages where you can find out which cities/towns/regions have declared themselves as TTIP-free, by country
29-Jun-2015 La Via CampesinaOn both sides of the Pacific, peasants, family farmers, and rural workers reject the extension of neoliberal policies
29-Jun-2015 Otago Daily TimesThe Trans Pacific Partnership is a ’’geopolitical contest’’ between the United States and China, University of Auckland law professor Jane Kelsey says.
26-Jun-2015 No al TTIPEl martes 30 de junio tendrá lugar en Madrid la jornada ’Resistencia transatlántica contra el TTIP’ organizada por EQUO y Los Verdes Europeos.
bilaterals.org is a collaborative space to share information and support movements struggling against bilateral trade and investment deals which serve corporations, not people. Multilingual. Global. No one owns it. Open publishing. Join us.