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Korea, India to hold free trade talks

Korea Times, 07-13-2006

Korea, India to Hold Free Trade Talks

Although the free trade agreement with the United States has been receiving the lion’s share of the nation’s attention, South Korea and India will continue free trade talks next week to discuss the timetable and extent of tariff reductions, the Ministry of Agriculture and Forestry said Thursday.

The two countries have sought a Comprehensive Economic Partnership Agreement (CEPA), a form of free trade agreement aimed at promoting trade in manufactured goods, agriculture, the service sector and investment, Yonhap News Agency reported.

Economic and technical cooperation is also on the agenda at the meeting in the Indian capital from July 18-21.

Seoul and New Dehli held two rounds of talks, in March and May. In the May meeting in Seoul, negotiators discussed clarifying the place of origin of goods, lowering non-tariff barriers and making it easier to make investments, Yonhap reported.

"In the upcoming talks in New Delhi, both sides want to draw up a statement outlining how import tariffs will be lowered and to what extent," said a ministry official. He said discussions on other pertinent matters will be dealt with as well, Yonhap reported.

 source: Korea Times