S. Korea, Mexico at odds over agricultural safeguards in FTA talks
S. Korea, Mexico At Odds Over Agricultural Safeguards In FTA Talks
SEOUL, Dec. 10 2007 Asia Pulse — South Korea and Mexico were at odds over safeguards for farm goods at their first free trade agreement (FTA) talks, the Ministry of Agriculture and Forestry said Monday.
The free trade meeting held in Mexico City last week allowed each side to outline its position on agricultural trade, the ministry said. An initial offering on the timing and type of goods that can be opened to free trade if an FTA pact is reached will be exchanged in the near future, the ministry added.
"We emphasized the ’sensitivity’ of farm goods and called for safeguard mechanisms, but the Mexican side was adverse to the proposal because they claimed it would hinder the free movement of goods," said an official.
Special safeguards allow an importer to temporarily slap high tariffs if there is a sudden surge in imports that hurt local interests. Because South Korean farm goods are more expensive than those sold on the global market, Seoul insists on certain protective measures.
The ministry said Seoul and Mexico City, also touched on sanitary and phytosanitary regulations for meat, including place of origin and geographical identification of farm goods.
Place of origin rules is important because only those products that can be classified as being made in the FTA partner country are eligible for liberal trade benefits.
The ministry, meanwhile, said the second round of FTA talks are planned for March in Seoul.
According to government data, South Korea exported US$6.3 billion worth of goods to Mexico and imported $790 million in 2006.
South Korea has free trade pacts with Singapore, the Association of Southeast Asian Nations (ASEAN), and the European Free Trade Association, which comprises Switzerland, Norway, Iceland and Liechtenstein.
In early June, Seoul also signed a free trade pact with the United States. It is currently awaiting legislative approval by both countries.
(Yonhap)
