Discussion in Free Trade Agreement

To discuss the Free Trade Agreement of Korea-Japan, ‘Korea-Japan FTA Industry, Government and Academy Joint Committee’ plans to have the first meeting in Seoul the beginning of July.

The name is ‘Industry, Government and Academy Joint Committee’, but the governments of both countries lead the committee, so has the intention of discussing the Korea-Japan FTA.

Chile will send ‘FTA Offer’ to Korea within this week and then have the working conference in Seoul in July. The government makes arrangements immediately for FTA Agreement.

The Ministry of Foreign Affairs and Trade announced on June 25 that Korea and Japan plan to hold ‘Korea-Japan FTA Industry, Government and Academy Joint Committee which was organized by agreement of the President of Korea and the Prime minister of Japan on March 22, in Seoul the beginning of July.

In this committee, the both of countries will concretely review the substances of FTA discussion.

Jo hyeon, the official of The Ministry of Foreign Affairs and Trade said “All substances reviewed by the committee will be influenced in Agreement of FTA, so the start of the meeting means the first step of FTA discussion between two countries”.

The committee will include the representatives of government, industry and academy of

two countries, and will have the meeting every two-month or three-month. After term

of 2 years, the committee will write and submit the joint report.

When the Japan concluded the FTA with Singapore the January, it organized the Industry, Government and Academy Joint Committee. Then FTA was concluded after 2 years discussion. All substances of the committee reports were included in the Agreement.

The Ministry of Foreign Affairs plans the discussion on FTA through Seminar with the subject of ‘Korea-Japan gains & losses and our countermeasures’ in the committee, Seocho-dong, Seocho-gu, Seoul.

Ricardo Lagos, president of Chile, conferred with Lee Gi-ho (special economic assistant) about the FTA agreement in the middle of this month.

However, Chile has kept strict to the situation which cannot accept the agreement exception for partial fruits including an apple and pear”. So, the agreement will run into difficulties. Hwang Du-yoen, official of the Minister of Foreign Affairs and Trade showed the strong saying “Both of us will make a concession to insists and requirements of both countries because we already knew requirements, and so will conclude the FTA”.

Abbreviated the Free Trade Agreement, FTA is the agreement to free the product movement between countries. The said countries freely transact without trade barriers such as a tariff and quota.

Ja-Ryong Koo bonhong@donga.com