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S. Korea, China and Japan to hold new round of 3-way FTA talks
By KH디지털2Published : May 11, 2015 - 09:13
South Korea, Japan and China will hold a fresh round of negotiations this week for a three-way free trade agreement with the countries seeking a breakthrough for a high-level trade pact, the South Korean government said Monday.
The talks, to be held in Seoul from Tuesday to Wednesday, will be the seventh of their kind since the three countries launched the negotiations in November 2012, according to the Ministry of Trade, Industry and Energy.
However, the upcoming round will be the first of its kind involving head delegates from all three countries since the countries agreed to hold working-level talks followed by head delegates' meeting, a move aimed at promoting in-depth discussions at working-level followed by political concessions by head delegates when necessary.
"At the upcoming head delegates' meeting, the countries will focus on key remaining issues, such as the basic guideline for negotiations on market liberalization for products, as well as the way of market liberalization," the ministry said in a press release.
The sixth round of working-level talks were held in Seoul from April 13-17, it added.
The proposed three-way FTA, if signed, will mark South Korea's first free trade pact with Japan as Seoul and Beijing have already reached a deal on a bilateral FTA.
Seoul and Tokyo have held six rounds of FTA talks for a bilateral FTA, but the talks have been suspended since November 2004, largely due to Japan's opposition to liberalize its agricultural market.
South Korea is also considering taking part in a U.S.-led regional FTA, known as the Trans-Pacific Partnership, that involves Japan and 10 other countries.
The TPP negotiations are said to had been delayed again due to Japan's reluctance to open up its agricultural market.
Out of all 12 countries currently involved in TPP negotiations, Japan and Mexico are the only countries with which South Korea does not have a bilateral or multilateral free trade pact.
The 12 countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.
South Korea, Japan and China are also involved in negotiations for a separate multilateral FTA, known as the Regional Comprehensive Economic Partnership, with Australia, India, New Zealand and all 10 members of the Association of Southeast Asian Nations. (Yonhap)
The talks, to be held in Seoul from Tuesday to Wednesday, will be the seventh of their kind since the three countries launched the negotiations in November 2012, according to the Ministry of Trade, Industry and Energy.
However, the upcoming round will be the first of its kind involving head delegates from all three countries since the countries agreed to hold working-level talks followed by head delegates' meeting, a move aimed at promoting in-depth discussions at working-level followed by political concessions by head delegates when necessary.
"At the upcoming head delegates' meeting, the countries will focus on key remaining issues, such as the basic guideline for negotiations on market liberalization for products, as well as the way of market liberalization," the ministry said in a press release.
The sixth round of working-level talks were held in Seoul from April 13-17, it added.
The proposed three-way FTA, if signed, will mark South Korea's first free trade pact with Japan as Seoul and Beijing have already reached a deal on a bilateral FTA.
Seoul and Tokyo have held six rounds of FTA talks for a bilateral FTA, but the talks have been suspended since November 2004, largely due to Japan's opposition to liberalize its agricultural market.
South Korea is also considering taking part in a U.S.-led regional FTA, known as the Trans-Pacific Partnership, that involves Japan and 10 other countries.
The TPP negotiations are said to had been delayed again due to Japan's reluctance to open up its agricultural market.
Out of all 12 countries currently involved in TPP negotiations, Japan and Mexico are the only countries with which South Korea does not have a bilateral or multilateral free trade pact.
The 12 countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.
South Korea, Japan and China are also involved in negotiations for a separate multilateral FTA, known as the Regional Comprehensive Economic Partnership, with Australia, India, New Zealand and all 10 members of the Association of Southeast Asian Nations. (Yonhap)
