S Korea FTA can weather Democrats in Congress
Asia Times, Hong Kong
S Korea FTA can weather Democrats in Congress
22 June 2006
WASHINGTON - South Korea has internationally recognized labor and environmental standards that would ease opposition by US Democrats who traditionally don’t favour trade agreements with foreign countries, a South Korean asserted this week.
Choi Seok-young, minister for economic affairs at the South Korean Embassy in Washington, did not rule out possible repercussions if Democrats control Congress after the November election.
There are a number of Democrats who, since the early 1990s, have opposed the 10 or more international trade-related laws and agreements, he said at a public briefing session arranged by the embassy.
American labor unions, one of the strongest Democrat support bases, are seriously concerned that trade agreements with foreign countries will cost them jobs, Choi said.
South Korea and the US are negotiating a free trade agreement (FTA), known as KORUS FTA, that they hope to conclude by early spring to meet the deadline imposed by the so-called Trade Promotion Authority (TPA).
Enacted temporarily in 2002, the TPA requires Congress to vote up or down on an FTA without seeking amendments. It expires as of June 30, 2007.
"The KORUS FTA is viewed quite differently in the Congress," Choi said. "From what we have been hearing, the mood is positive."
Democrats are concerned mainly with labor and environment issues, but South Korea abides fully by international standards, he said.
"If we produce a fine product, the expectation is that we will not have difficulty in passing it through the Congress," Choi said.
"Some optimists are even saying that by passing the KORUS FTA with majority support, the prevalent negativity about trade agreements will be changed."
On a possible extension of the TPA, the diplomat advised against relying on it in negotiating the FTA.
"Academics suggest it from a theoretic perspective. But realistically, it is treated as a taboo," he said.
(Asia Pulse/Yonhap)
