S. Korea, Japan to hold working-level talks on free trade pact

SEOUL, Nov. 26 (Yonhap) -- South Korea and Japan will hold a working-level meeting next week to study how to resume stalled negotiations for a free trade agreement (FTA) between the two neighboring countries, Seoul's Trade Ministry said Wednesday.

The negotiations that started in December 2003 have been blocked by Japan's
objection to liberalizing its agriculture market and South Korea's reluctance to
further open its automobile market.
The two sides held six rounds of talks up until November 2004, but the
negotiations were suspended for over three years as South Korean negotiators
deemed Japan's offer for opening of its agriculture and fisheries sectors to be
unacceptable.
There is also strong concern in South Korea that such a deal would expand its
trade deficit with the neighboring country.
In June, the two countries held a working-level talks in Tokyo on the possible
resumption of the negotiations, but Japan still remained reluctant to open its
agriculture market wider. Next week's meeting will be held in Seoul on Thursday,
the ministry said.
Currently, South Korea is seeking parliamentary approval for an FTA with the
U.S., and is in negotiations with the European Union for a similar deal.
Asia's fourth-largest economy also has free trade agreements with Chile,
Singapore and the European Free Trade Association, as well as a partial pact with
the Association of Southeast Asian Nations. Seoul is also seeking trade deals
with Canada, India and Mexico.
sam@yna.co.kr
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