S. Korean, Japanese business groups to push for resumption of free trade talks
S. Korean, Japanese business groups to push for resumption of free trade talks
SEOUL, Nov. 13 (Yonhap) — South Korean and Japanese business lobby groups agreed to forge close cooperation to persuade the governments of their countries to resume free trade talks that are suspended over agriculture issues, the Federation of Korean Industries (FKI) said Tuesday.
Free trade talks between South Korea and Japan have been stalled since late 2004 as the two sides disagreed over how to tear down tariffs on agricultural goods. South Korea signed a free trade deal with the U.S. in June, raising concerns in Japan over the possibility of lagging behind nations that eliminate trade barriers.
The agreement by the FKI and Keidanren, the biggest business lobby organizations from the two countries, was made at a meeting in Tokyo, the South Korean group said in a statement.
Lee Yoon-ho, the FKI’s vice chairman, asked the Japanese government to "show a flexible stance" on lowering tariffs on farm and fisheries goods to reopen the free trade negotiations, according to the statement.
South Korean trade officials don’t expect the free trade talks with Japan to resume anytime soon as Seoul is now in negotiations with the European Union for a similar deal.
