Industry FTA team launched
Korea Times
Industry FTA Team Launched
By Kim Yon-se, Staff Reporter
18 April 2006
Representatives from a variety of industries have formed a private board to closely monitor the government’s negotiations with the United States for a free trade agreement (FTA).
Members of the board include leaders from conglomerates, financial service companies, automakers, hospitals, law firms and farming industries.
Officials from the Federation of Korean Industries, the Korea International Trade Association and the National Agricultural Cooperative Federation, will also play as an active advisory group.
A KITA spokesman said it would provide advice for successful completion of an FTA with the U.S. by holding regular seminars to gather opinions from the members.
The government has been under heavy pressure from private sectors, mainly from farmers, who claim that an FTA with the U.S. would lead to the total destruction of the local agricultural industry.
Controversy surrounding the pros and cons of the Korea-U.S. FTA has reached a very serious point,'' said Lee Hee-beom, KITA president and one of the four heads of the task force.
He said now is the time to think about how we can complete the deal successfully, not about whether to push for it or not.
Critics say South Korea has given in to U.S. demands for the easing of restrictions on Hollywood movies and the lifting of an import ban on U.S. beef, even before the start of the talks.
More and more lawmakers from ruling and opposition parties are accusing policymakers of trying to sign an FTA with the U.S. without sufficient analysis.
It is noteworthy that even ruling party lawmakers began criticizing economy-related ministries. Rep. Kim Hyuk-kyu of the Uri Party said,It is undesirable for the government to negotiate with the U.S. after setting the time limit in advance.’’
During a recent interpellation session against the Ministry of Finance and Economy, some lawmakers said a negotiation with deadline is not a negotiation.
Meanwhile, the Commerce, Trade and Energy Ministry disclosed a 2.8 trillion won package aimed at helping transition for the sectors to be adversely affected by the FTA implementation for the next 10 years.
