March 10, 2014 11:59
Korea is likely to conclude nine years of free-trade talks with Canada this week. Cheong Wa Dae on Sunday said Canadian Prime Minister Stephen Harper visits Korea on Monday and Tuesday to meet with President Park Geun-hye.
The two will discuss boosting economic ties as well as cooperation in energy, resources, and science and technology. They are expected to make an announcement afterwards that gives the green light for FTA talks to conclude.
In a recent interview, Minister of Trade, Industry and Energy Yoon Sang-jick said the talks have entered the final stage as the two sides narrowed the gap on sensitive issues in the car and agricultural sectors.
Korea hopes Canada will abolish tariffs of up to 6.1 percent on cars, while Canada asked Korea to open the agricultural market, including a 40 percent tariff on imported beef.
Canada would become Korea's 12th FTA partner.
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