US calls for more rigorous free trade pact with South Korea
TMCnet | April 19, 2006
US calls for more rigorous free trade pact with South Korea
(Asia In Focus Via Thomson Dialog NewsEdge) WASHINGTON, April 20 Asia in Focus — The United States’ free trade agreement (FTA) with South Korea will have more provisions than those with other countries to reflect unique barriers specific to the Asian nation, according to Wendy Cutler, assistant U.S. Trade Representative and chief negotiator to the South Korea-U.S. FTA (KORUS FTA) talks. She said in a speech sponsored by the Global Business Dialogue that the nature of non-tariff measures US companies are facing in Korea are unique and require new provisions to address specific Korea barriers that have been raised by the US private sector.
* South Korea and the U.S. announced in February the launch of FTA negotiations which, when concluded, would remove tariff and non-tariff barriers to bilateral trade.
* They want to wrap up the talks by early spring 2007 for the FTA to be covered under what is called the trade promotion authority, a temporary U.S. legislation mandating the Congress to accept or reject the FTA draft without amendment.
