S Korea to push forward bilateral FTA deals after WTO talks collapse
Xinhua | 30 July 2008
S Korea to push forward bilateral FTA deals after WTO talks collapse
SEOUL, July 30 (Xinhua) — South Korea will push forward bilateral free trade agreements (FTA) as the global trade talks under the World Trade Organization (WTO) finished without progress, South Korean Deputy Trade Minister Ahn Ho-young said Wednesday here.
"We can not help focusing on reaching more bilateral free trade deals as the multilateral Doha Round talks failed to produce major progress," Ahn said.
"For the time being, the Doha Round of talks is likely to be put on hold as the United States is unlikely to take any decisive actions on trade issues soon due to its presidential election this year," he added.
South Korea has signed the FTA with Chile, Singapore and the European Free Trade Association. The S. Korean-U.S. FTA signed by officials of the two governments last June is still waiting for the ratification of South Korean National Assembly and U.S. Congress.
South Korea is having FTA negotiations with the European Union, Canada, Mexico and six Gulf states.
