U.S. farm sector concerned over delay of ratification of KORUS FTA: U.S. farm sector concerned over delay of ratification of KORUS FTA: report

SEOUL, Dec. 18 (Yonhap) -- Several agriculture-related business organizations in
the United States have expressed worries that a delay in the ratification of a
pending free trade deal with South Korea may leave them lagging behind their
rivals, Seoul's trade promotion body said Friday.
According to the Korea International Trade Association (KITA), more than 15
organizations submitted written opinions to the U.S. Trade Representative (USTR)
calling for the early ratification of the free trade agreement, or KORUS FTA.
They claimed that their presence in the South Korean market will be threatened by
foreign rivals if the ratification of the accord is delayed, according to the
KITA.
But other sectors have not shown any dissatisfaction about access to the Korean
market under the accord, it said.
The accord was signed in June 2007, but its ratification in both countries has
been stymied by disagreements on auto and beef trade.
U.S. President Barack Obama said in Seoul last month that he is ready to deal
with South Korea separately from other Asian countries, such as China, which has
a huge trade surplus with the U.S.
South Korean President Lee Myung-bak said he is willing to discuss the imbalance
in auto trade, the biggest barrier to the ratification of the deal.
South Korea recently initialed a free trade agreement with the European Union,
and is actively seeking similar pacts with Canada, Colombia and several other
countries.
sam@yna.co.kr
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