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Government Examines Korea- Japan FTA.

Posted March. 18, 2002 08:53,   


Japanese Prime Minister Koizumi Junichiro, who visits Korea on 21st, suggested President Kim Dae Jung to commence government level examination in order to conclude Free Trade Agreement (FTA) between Korea and Japan, therefore, it will be examined, reported the Nihon Keizai Shimbun on 17th.

The newspaper delivered that 10 people such as scholars, government officials and industrial personnel from both countries will join in co-research and they will submit final report in next year summer.

Joining of government officials in this research means that FTA, which has been in discussion with civil groups so far, would be elevated to government level.

FTA is suppose to raise international competitive power of the two countries and it will discuss matter such as △ mutual abolition of tariff △ mutual approval of goods standard △ service liberalization and protection of all rights reserved △ IT infrastructure.

In case two countries conclude FTA, economic bloc of GDP 5 trillion dollar and 170 million population will be formed so that it can rise up as core of Asia`s economy.

However, there are high concerns in Korea, to Japan petrochemicals, and in Japan, to Korean agriculture and marine products due to non-tariff as well as conflict between ministries are also quite serious.

Therefore, till the time conclusion of agreement takes place big difficulties are expected.

Japan inaugurated co-research in which concerned people from industrial area and academic world joined in order to conclude FTA with Singapore in 1999 and in January, after 2 years of its inauguration, FTA entered.

Singapore is the first nation which agreed to Japan.

Japan has been co- researching FTA with Mexico since last September.

Korea –Japan had agreed once on installation of `FTA business forum` in September 1998, by President Kim and the then Prime Minister Yoshiro Mori, and this forum submitted report that urges early conclusion in February, to both the governments.