Korea to send draft proposal on FTA with EU
Chosun Ilbo | 27 August 2007
Korea to Send Draft Proposal on FTA with EU
The government will soon deliver a draft proposal to the European Union in preparation for a third round of free trade negotiations.
According to Trade Ministry officials in Seoul, the proposal is expected to include a time frame for Korea to eliminate tariffs on cars and industrial goods.
It will also specify when and how much Korea is willing to open its agricultural sector, the most sensitive area in free trade talks.
The EU has so far demanded that 95 percent of commodity tariffs be removed within three years.
Korea meanwhile wants rice and 250 other products to be exempt from market opening or at least subject to longer-term tariff removal.
Arirang News
