S. Korea to host international forum on protectionism

By Lee Youkyung
SEOUL, July 2 (Yonhap) -- South Korea will host an international trade forum this
week to discuss ways of tackling growing protectionism amid the global economic
recession, officials said Thursday.
The 2009 Seoul International Forum on Trade Remedies, scheduled for Friday, will
bring together representatives from the World Trade Organization (WTO), the U.S.
International Trade Commission (ITC), the European Union (EU), and China's
Ministry of Commerce.
The participants, including ITC Chairman Shara L. Aranoff and WTO Deputy
Director-General Harsha V. Singh, will exchange views on the impact of
protectionism on the global economy and discuss countermeasures, the Ministry of
Knowledge Economy said.
"An early recovery from the global financial crisis requires openness in
international trade," a ministry official said. "But due to the recession, trade
remedies are expected to rise that could restrict free trade."
As governments introduce stimulus packages to salvage their domestic industries
hit by the financial crisis, some measures have sparked concern over whether they
abide by international trade rules, according to the ministry.
For instance, the EU resumed export subsidies for dairy products and France
provided aid to its ailing auto industry mandating the use of locally made auto
parts, the ministry said.
The Buy American provision in the U.S. stimulus bill, meanwhile, restricts some
U.S. government purchases to U.S. suppliers, sparking controversy over
protectionism, it added.
ylee@yna.co.kr
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