Roh threatens to scrap FTA deal with US
Yonhap | 2007/03/13
Roh threatens to scrap FTA deal with U.S.
By Yoo Cheong-mo
SEOUL, March 13 (Yonhap) — South Korean President Roh Moo-hyun said Tuesday that his government may choose to scrap free trade negotiations with the United States if South Korea’s economic interests are not properly reflected in the final deal.
"We’re in a dilemma (over free trade talks with the U.S.), but we’ll not rush for an early and unconditional conclusion," said the president at a Cabinet meeting at his office Cheong Wa Dae.
"I’ve instructed Korean negotiators to thoroughly take real economic benefits into consideration in the free trade talks. Security and other non-economic factors will never be considered. Unless our interests are fully secured, we’ll not bother to sign the deal by the (end-of-March) deadline," said Roh.
U.S. negotiators must submit any free trade deal to Congress by April 2 for a 90-day review before President George W. Bush’s fast-track trade promotion authority expires on July 1.
South Korean and U.S. negotiators wrapped up their eighth round of free trade agreement (FTA) talks in Seoul on Monday, though there still remained wide gaps in the issues of automobiles, beef and some sensitive agricultural products.
The two sides will hold a series of informal high-ranking meetings in Washington in the coming weeks to clear the remaining obstacles. South Korea and the U.S. launched their FTA talks in June last year.
Roh also instructed his Cabinet ministers to consider settling for an "intermediate or lower" level FTA deal with the U.S., if South Korea has any product items that can never be opened to American competition.
"We can scrap the deal or not. We can extend the deadline or not. We can choose among low, intermediate or high level of agreement. But any final deal should be thoroughly based on practical national and public interests," said the president.
"The (Korean) people’s opposition to an FTA with the U.S. still remains strong. But the government should not give too much consideration to such a political burden. I stress again all the negotiations have to be carried out in accordance with the principles of a merchant. We can persuade the people in a straightforward manner."
