US envoy upbeat on trade talks
JoongAng Ilbo, Korea
U.S. envoy upbeat on trade talks
8 March 2006
Wendy S. Cutler of the Office of the U.S. Trade Representative said yesterday she was optimistic about a successful conclusion of free trade negotiations between the United States and Korea. Ms. Cutler, the chief negotiator of this treaty for the U.S. side, attended a preparatory meeting Monday with her Korean counterparts.
"I believe we will conclude this deal and solidify our economic relations with Korea," she told a general membership meeting of the American Chamber of Commerce in Korea, "and we will enter a partnership that has the potential to take our relationship to a new phase of cooperation."
Ms. Cutler is an assistant U.S. trade representative dealing with Japan, Korea and APEC matters, and has worked at the trade agency since 1988. She said Washington was encouraged by the way Korea has undertaken economic reforms and market-opening measures in its own domestic interests, a policy that she said "bodes well for free trade negotiations."
She told her audience, mainly U.S. businessmen in Korea, that the free trade pact would give U.S. companies increased access to the Korean market in sectors such as agriculture and services ― both hot-button issues for Korea’s negotiators. The benefits, she added, would go beyond commercial interests.
"The free trade agreement with Korea will be our first with a Northeast Asian partner," Ms. Cutler said. "It will underscore our commitment to engagement in this region."
Ms. Cutler said Korean consumers would see lower prices for commodities they used daily and that the elimination of tariffs in the United States would benefit Korean export industries. The pact, she said, would position Korea better in this region, making it more competitive and more developed economically.
She said the complexity and size of the two nations’ trading relationships would make the talks difficult. But, she added, both governments have backed the free trade pact strongly.
An audience member asked about the outcome of the preparatory talks on Monday; she said the two delegations had discussed organizational details and "made some important progress." The negotiations proper will begin in June, at the conclusion of a 90-day period after the U.S. Congress was notified of the Bush administration’s intent to begin the talks. That date and the Washington venue for the first round were agreed Monday. The second round will be in Seoul during the week of July 10.
by Yoo Jee-ho
