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Korea-EU Free Trade Talks to Open This Week

Posted April. 23, 2007 04:33,   


Free trade agreement (FTA) talks between South Korea and the European Union (EU) will begin next month after the two sides officially announced the start of future negotiations this week.

Officials at the trade bureau of the Ministry of Foreign Affairs and Trade said on Sunday that the EU will be signing all the necessary internal approvals by April 23 (local time). The Korean government will do its part by making official decisions needed for the launch of Korea-EU FTA negotiations at a meeting of all ministers with economic and finance portfolios later this week.

If all goes according to schedule, the first round of negotiations will be held in the Hotel Shilla, in downtown Seoul from May 7-11. The FTA talks will involve negotiations in four key sectors, including goods, investment and services, trade norms, and dispute settlement. The Korean delegation will consist of about 50 members.