ID :
70027
Sun, 07/12/2009 - 22:11
Auther :
Shortlink :
https://oananews.org//node/70027
The shortlink copeid
S. Korea, EU free trade deal imminent: official
By Byun Duk-kun
STOCKHOLM, July 12 (Yonhap) -- South Korea and the European Union (EU) are close to concluding their negotiations for a free trade deal with only a few "procedural issues" left, a ranking South Korean official said Sunday.
The remarks came as South Korean President Lee Myung-bak was set to hold a summit
Monday with Prime Minister Fredrik Reinfeldt of Sweden, which currently holds the
six-month rotating presidency of the EU.
"You can understand it to mean that the sides have, in fact, reached agreement"
on the envisioned free trade agreement (FTA), the official, well informed of the
negotiations, told reporters here.
The South Korean president arrived in the Swedish capital Saturday on a three-day
visit as part of a three-nation European tour. He earlier had visited Poland and
Italy where he attended an expanded summit of G-8.
The Article 133 Committee of the European Union on Friday approved a final draft
of the Korea-EU FTA in a meeting held in Brussels.
South Korean officials accompanying their president said the decision by the EU
committee had effectively ended the protracted FTA negotiations that began 26
months ago.
At least three EU member states -- Italy, Poland and Hungary -- were earlier said
to oppose the proposed deal which they fear would hurt their economies. Supports
say that the deal, if signed, would help generate billions of dollars in trade
for both sides.
The South Korean official, speaking on condition of anonymity due to the
sensitivity of the issue, said no obstacles were now left in talks for the FTA,
noting all countries that previously expressed opposition have "withdrawn their
reservations."
The official, however, noted it may take some time before the sides can actually
sign the document because of administrative process involved, such as putting the
agreement in 23 different languages used in the EU's 27 member nations.
The official did not say what the last-minute hurdles were, but South Korean
officials had earlier identified them as tariff drawbacks and rules of origin.
STOCKHOLM, July 12 (Yonhap) -- South Korea and the European Union (EU) are close to concluding their negotiations for a free trade deal with only a few "procedural issues" left, a ranking South Korean official said Sunday.
The remarks came as South Korean President Lee Myung-bak was set to hold a summit
Monday with Prime Minister Fredrik Reinfeldt of Sweden, which currently holds the
six-month rotating presidency of the EU.
"You can understand it to mean that the sides have, in fact, reached agreement"
on the envisioned free trade agreement (FTA), the official, well informed of the
negotiations, told reporters here.
The South Korean president arrived in the Swedish capital Saturday on a three-day
visit as part of a three-nation European tour. He earlier had visited Poland and
Italy where he attended an expanded summit of G-8.
The Article 133 Committee of the European Union on Friday approved a final draft
of the Korea-EU FTA in a meeting held in Brussels.
South Korean officials accompanying their president said the decision by the EU
committee had effectively ended the protracted FTA negotiations that began 26
months ago.
At least three EU member states -- Italy, Poland and Hungary -- were earlier said
to oppose the proposed deal which they fear would hurt their economies. Supports
say that the deal, if signed, would help generate billions of dollars in trade
for both sides.
The South Korean official, speaking on condition of anonymity due to the
sensitivity of the issue, said no obstacles were now left in talks for the FTA,
noting all countries that previously expressed opposition have "withdrawn their
reservations."
The official, however, noted it may take some time before the sides can actually
sign the document because of administrative process involved, such as putting the
agreement in 23 different languages used in the EU's 27 member nations.
The official did not say what the last-minute hurdles were, but South Korean
officials had earlier identified them as tariff drawbacks and rules of origin.
