Korea, EU to hold summit over FTA, economic cooperation

By Byun Duk-kun
SEOUL, May 18 (Yonhap) -- South Korean President Lee Myung-bak will meet with the
head of the European Union (EU) this week to discuss an envisioned free trade
deal and ways to increase bilateral cooperation, Seoul's presidential office
Cheong Wa Dae said Monday.

Lee and Vaclav Klaus, president of the Czech Republic who is currently serving a
six-month rotating presidency of the EU, will meet Saturday at Cheong Wa Dae,
along with Jose Manuel Durao Barroso, president of the European Commission.
"At the upcoming summit, the leaders will discuss issues related to Korea-EU
relations, including the signing of a Korea-EU free trade agreement, and ways to
increase cooperation on international issues such as fighting the global economic
crisis and other regional concerns," Cheong Wa Dae said in a press release.
The meeting marks the first time an EU president will visit Seoul for a summit,
though the sides have regularly held talks since 2002 on the sidelines of the
biennial Asia-Europe Meeting (ASEM), it said.
South Korea and the European Union, the world's largest economic bloc, are said
to be near conclusion of their 20-month-long negotiations for a free trade
agreement, which will significantly deepen their economic ties.
The European Union is already South Korea's second-largest trading partner,
exchanging nearly US$100 billion worth of goods and services with Korea in 2008,
according to the presidential office.
Lee and Klaus will also attend a ceremony Saturday that will mark the signing of
an "agreement concerning cooperation on anti-competitive activities," a measure
designed to reduce such practices, according to Cheong Wa Dae officials.
bdk@yna.co.kr
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