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Korea has high hopes of Canada FTA talks

ChosunIlbo, Seoul

Korea Has High Hopes of Canada FTA Talks

29 March 2005

Korea and Canada will hold their second round of preliminary meetings for a free trade agreement in Ottawa, Canada, from Thursday. The Ministry of Foreign Affairs and Trade said it would consider starting negotiations proper based on the results of the preliminary meeting and public opinion.

If Korea signs an FTA with Canada, the two countries will be able to promote economic and trade cooperation and expand investment by taking advantage of Korea’s developed manufacturing industry on the one hand and Canada’s ample natural resources and top technologies on the other, the ministry said.

It expects to secure a launch pad from which to enter the market of the North American Free Trade Agreement (NAFTA), whose members account for 36 percent of the world’s gross domestic product.