Korea, India aim to find middle ground on farm goods at Cepa talks
Yonhap | September 22, 2008
Korea, India Aim to Find Middle Ground on Farm Goods at Cepa Talks
SEOUL, Sept 22 Asia Pulse — South Korea and India will try to find middle ground on agricultural issues at the bilateral comprehensive economic partnership agreement (CEPA) meeting, the government said Sunday.
The four-day meeting that kicks off in Seoul today is expected to touch on certain issues that New Delhi expressed interest in after the two sides exchanged initial offers on the timetable and extent of tariff cuts in March 2007, the Ministry of Agriculture and Forestry said.
Without going into details, it added that talks so far have helped them reach consensus on key agricultural products that will in principle be excluded from the free trade deal.
India is a net exporter of agricultural goods, while South Korea imports a larger proportion of its food from abroad.
"The aim of the talks will be to ensure the greatest possible protection for sensitive items, so that if a CEPA pact is signed, the fallout for local farmers can be minimized," a ministry official said. He added that talks are entering the home stretch.
Seoul and New Delhi started the CEPA talks in March 2006 and have held 11 general negotiations so far.
A CEPA is technically the equivalent of a free trade agreement (FTA), and is geared to promote growth through liberal trade, investment and economic and technical cooperation.
After a slow start, South Korea has signed FTAs with Chile, Signapore, the European Free Trade Association of Switzerland, Norway, Ireland and Lichtenstein, the Association of Southeast Asian Nations and the United States. The FTA with the U.S. is pending parliamentary ratification before it goes into effect.
South Korea is also engaged in talks with the European Union, Canada, Mexico, the Gulf Cooperation Council and Japan.
