S. Korea, EU to Resume FTA Talks in Mid-Dec.
Korea Times, Seoul
S. Korea, EU to Resume FTA Talks in Mid-Dec.
29 November 2008
South Korea and the European Union will resume their negotiations in Vienna Dec. 15 - 17 to finalize their free trade agreement talks, Yonhap News reported Saturday, quoting an unnamed government official.
With last year’s bilateral trade reaching $80 billion, stakes are high for both sides. Yet, inking a deal wouldn’t be easy as the EU has been critical of South Korea’s protective stance in opening its auto market.
"It’s not easy to find a balance of interests for both sides," said the official. "But we will make major efforts to narrow differences as soon as possible."
The two sides launched their talks in May last year and had hoped to reach an agreement by the end of last year. Little progress has been made, however, due to differences over industrial tariffs and other sensitive issues.
