Australia and S Korea to study FTA
AAP | December 06, 2006
Australia and S Korea to study FTA
AUSTRALIA and South Korea have agreed to begin private feasibility studies ahead of possible full negotiations on a free trade deal.
Prime Minister John Howard discussed it with visiting South Korean President Roh Moo-hyun this morning.
South Korea is Australia’s fourth biggest trading partner, with trade heavily favouring Australia.
A free trade deal with Australia could be a difficult domestic issue for South Korea, which has a heavily protected farm sector.
But Mr Roh said Australia was more enthusiastic about the idea of a trade deal but South Korea was willing to look into it.
Apart from advancing the prospects of a free trade agreement, the two countries signed off on agreements relating to social security and the protection migratory birds.
However, the issue of sanctions against North Korea - which conducted an underground atomic test earlier this year, remained a thorny issue, with the two leaders add odds over South Korea’s implementation of a sanctions regime.
