Seoul, New Delhi to resume trade talks in April
Korea Times 12-24-2007
Seoul, New Delhi to Resume Trade Talks in April
South Korea and India made little headway on the agricultural sector in their latest round talks for a comprehensive economic partnership agreement (CEPA), the government said Monday.
In the four-day meeting that concluded Friday in New Dehli, Indian negotiators called for improvements in the initial market opening offer made by South Korea on farm goods.
South Korean officials countered at the ninth round of CEPA talks that farm products are a sensitive issue, and stressed that Seoul had little leeway there.
However, they said talks will be held with agricultural groups and farmers to gauge the extent of market liberalization that would be acceptable.
Details on the initial offer have not been released because it could affect negotiations, but South Korea is insisting that many key products should be excluded from any free trade pact, or the date of market opening pushed back to minimize damage to local growers. Seoul takes a hard-line stance on rice, certain fruits and meat.
The lack of progress in the farming sector is in contrast to gains made in areas such as product trade, service transactions, investment and economic cooperation.
The Ministry of Foreign Affairs and Trade said India had forwarded a more acceptable offer on opening its markets to South Korean manufactured goods at the latest talks.
The next round of talks is scheduled to take place in April, 2008.
A partnership agreement, technically the equivalent of a free trade agreement (FTA), is geared to promote growth through liberal trade, investment and economic and technical cooperation.
South Korea already has FTAs with Chile, Singapore, the European Free Trade Association and the Association of Southeast Asian Nations.
An FTA deal signed with the United States on June 30 is awaiting ratification by lawmakers.
