ID :
60724
Fri, 05/15/2009 - 09:09
Auther :
Shortlink :
https://www.oananews.org//node/60724
The shortlink copeid
FTA with Australia won't undermine S. Korea's farm sector: envoy
SEOUL, May 15 (Yonhap) -- Australia's top diplomat in South Korea said Friday that a free trade agreement (FTA) between the two countries will provide a platform for improved two-way ties and brushed off concerns that it may undermine Seoul's agricultural sector.
South Korea and Australia are scheduled to start formal talks on a free trade
agreement next week in Canberra, with the goal of forging a deal within a year.
Two-way trade reached US$23.2 billion last year with South Korea posting a
deficit of $12.8 billion, government statistics showed.
South Korea exported $5.2 billion of electronic goods and automobiles to
Australia, while importing $18 billion of crude oil, coal, iron ore and meat last
year.
"Many Koreans believe that an FTA with Australia will pose a threat and undermine
the Korean agriculture sector. This is simply not true," Sam Gerovich,
Australia's ambassador to South Korea, said at a breakfast meeting with business
officials in Seoul.
South Korean farmers strongly oppose FTAs, which they argue will only result in
flooding the domestic agricultural market with cheap imports.
Gerovich pointed out that Australia's agricultural goods take up less than 20
percent of exports to South Korea.
"For example, beef, the single-largest agricultural import from Australia,
competes primarily with other imported beef and Koreans will buy 'hanwoo'
(domestic-bred) beef regardless of an FTA," the ambassador said.
He also explained that Australia's rice production, even in good years, makes up
less than 0.3 percent of total global rice production and that South Korea
produces approximately 90 times more rice than Australia.
"Australia simply hopes to compete in the growing Korean agricultural goods
market but not to hurt Korean farmers."
The envoy expressed optimism that the talks will "move quickly," but also
suggested that some decisions will have to be based on the "political will" of
both sides during the course of the talks.
"A study in 2006 concluded that an FTA will boost Korea's gross domestic product
by around $30 billion in the period of 2020 and Australia's by $23 billion by the
same period."
"We can enhance our bilateral trade investment relationship through a high
quality comprehensive agreement," the ambassador said.
(END)
South Korea and Australia are scheduled to start formal talks on a free trade
agreement next week in Canberra, with the goal of forging a deal within a year.
Two-way trade reached US$23.2 billion last year with South Korea posting a
deficit of $12.8 billion, government statistics showed.
South Korea exported $5.2 billion of electronic goods and automobiles to
Australia, while importing $18 billion of crude oil, coal, iron ore and meat last
year.
"Many Koreans believe that an FTA with Australia will pose a threat and undermine
the Korean agriculture sector. This is simply not true," Sam Gerovich,
Australia's ambassador to South Korea, said at a breakfast meeting with business
officials in Seoul.
South Korean farmers strongly oppose FTAs, which they argue will only result in
flooding the domestic agricultural market with cheap imports.
Gerovich pointed out that Australia's agricultural goods take up less than 20
percent of exports to South Korea.
"For example, beef, the single-largest agricultural import from Australia,
competes primarily with other imported beef and Koreans will buy 'hanwoo'
(domestic-bred) beef regardless of an FTA," the ambassador said.
He also explained that Australia's rice production, even in good years, makes up
less than 0.3 percent of total global rice production and that South Korea
produces approximately 90 times more rice than Australia.
"Australia simply hopes to compete in the growing Korean agricultural goods
market but not to hurt Korean farmers."
The envoy expressed optimism that the talks will "move quickly," but also
suggested that some decisions will have to be based on the "political will" of
both sides during the course of the talks.
"A study in 2006 concluded that an FTA will boost Korea's gross domestic product
by around $30 billion in the period of 2020 and Australia's by $23 billion by the
same period."
"We can enhance our bilateral trade investment relationship through a high
quality comprehensive agreement," the ambassador said.
(END)
