The government of South Korea and nine members of the Association of South-East Asian Nations (Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, and Vietnam) signed an FTA together in May 2006, which took effect in July 2006.
Due to concerns about agriculture, particularly the deal’s provisions on rice and livestock, Thailand negotiated separate arrangements with the Korean government to join the pact in early 2009. Korea is also interested in a separate, higher level FTA with Malaysia.
last update: May 2012
Photo: Joe Mabel / CC BY-SA 3.0
Thailand and South Korea failed Thursday to reach an agreement in negotiations into the issue of rice trade between the two nations, impeding the implementation of a regional trade pact between Southeast Asia and Seoul.
Bangkok is continuing to negotiate with the Seoul government after refusing to sign an Asean-Korea trade pact last month because of Korea’s resistance to opening up its rice market.
Thailand has reaffirmed that it did not sign the Asean-South Korean free trade agreement on goods because of rice. South Korea insisted on excluding rice under its sensitive list, but Thailand, the world’s largest rice exporter, demanded that it open up its local market.
South Korea signed a Free Trade Agreement (FTA) with the Association of Southeast Asian Nations on Tuesday but founding member Thailand was left out due to internal disagreements and objections to Seoul’s barriers on farm products.
Thailand will not be included in a free trade agreement to be signed between the Association of Southeast Asian Nations (ASEAN)and South Korea this week, the Philippine trade secretary said Monday.
Thailand is the only Asean member not planning to sign the free-trade agreement (FTA) with South Korea and will thus lose export competitiveness, due to higher import tariffs.
Under the deal, South Korea designated 200 agricultural products that will be exempt from tariff reductions due to their effect on local farmers
ASEAN’s free trade agreement (FTA) with South Korea would recognize products made in the Kaesong Industrial Complex, the inter-Korean project, as South Korean products. This is in stark contrast to the politically sensitive nature of Kaesong in concurrent negotiations for an FTA with the United States.
Member countries of the Association of Southeast Asian Nations expect to conclude a free trade agreement with South Korea in a meeting to be held in the Philippines next month, the Department of Trade and Industry said.
South Korea and the Association of Southeast Asian Nations (ASEAN) failed to agree on some details in the 10th round of their free trade agreement (FTA) talks this week, the country’s Agriculture Ministry said Friday.