Australia Wants FTA With Korea
Korea Times, Seoul
Australia Wants FTA With Korea
7 May 2008
By Jung Sung-ki, Staff Reporter
The top Australian diplomat said Wednesday his country supports President Lee Myung-bak’s policy toward North Korea focused on dismantling its nuclear weapons program before providing economic aid. Foreign Minister Stephen Smith also expressed hope that the two nations will sign a free trade agreement as a way for boosting bilateral ties.
In a Seoul forum, Smith said his country will not resume development assistance for the communist state unless it lives up to an international agreement for disarmament. However, he said Canberra will provide humanitarian aid to the poverty-stricken North without conditions.
The nuclear weapons of the Democratic People's Republic of Korea (DPRK) pose a serious threat to regional stability. Both our countries are committed to the denuclearization of the Korean Peninsula,'' Smith was quoted by Yonhap news agency as saying at the forum organized by the Korea Press Foundation. DPRK is North Korea's official name.President Lee’s firm position on the DPRK ― making economic assistance conditional on progress toward denuclearization and an improvement in the DPRK’s human rights record, while keeping humanitarian aid unconditional ― aligns closely with our own policy approach,’’ said the minister. Australia has suspended development assistance until the DPRK makes substantial progress on denuclearization.''
President Lee outlined his North Korea policy, dubbedVision 3000,’’ linking improvements in the economic relationship between the two Koreas towards nuclear disarmament. The policy calls for helping boost North Korea’s per capita national income to $3,000 within a decade by providing economic assistance in cooperation with the international community on the condition that Pyongyang abandons its nuclear ambitions.
Pyongyang has denounced the policy, which it sees as tougher than the North Korea policies of the Kim Dae-jung and Roh Moo-hyun governments advocating the sunshine'' policy of engaging the North. The liberal administrations regarded cross-border business programs as a separate issue from nuclear disarmament.
Later in the day, Smith who is on a three-day visit to Seoul, held talks with Minister of Foreign Affairs and Trade Yu Myung-hwan over bilateral ties. He said,On the economic front, completing a free trade agreement with (South) Korea is among Australia’s highest priorities. It is just one example of how we could add value to our partnership.’’
South Korea is Australia’s fourth largest trading partner and it is the third largest source of overseas students for Australia.
The two sides released a report last month on the joint feasibility study of the agreement, which found an FTA could boost South Korea’s gross domestic product by up to $26.9 billion between 2007 and 2020, and Australia’s by $22.7 billion, the minister said.
