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Korea and the U.S will negotiate details of a free trade agreement in a second round of talks in Seoul on July 10-14. The two countries exchanged general positions in the first round in Washington early last month. The upcoming talks will discuss the level of tariff reductions and the extent to which the service market will be opened. Some 11,262 agricultural and manufacturing items are also under discussion. The two countries plan to exchange lists of products subject to market opening and products put on a reserved list, two or three months earlier than usual in such negotiations. However, they will not swap reserve list on financial services, including sale of U.S financial products in Korea, until the third round in September.
The U.S. is asking Korea to deal with the agriculture market first. Washington may demand that Korea opens its rice market, which Seoul rejects. The Korean government wants to put rice, garlic, peppers, tangerines and beef on the reserved list. It also plans to demand the safeguards that would enable Korea to temporarily raise tariffs if imports surge after market opening. Seoul is taking the offensive in negotiations on the opening of the textiles, cars and electronics markets.
It is asking Washington to scrap tariffs on almost all manufacturing products as soon as the FTA goes into effect. The U.S balks at the proposal and calls for safeguards to protect its cotton and garment industries. Korea also plans to ask the U.S. to grant visas to 5,000 Korean professionals to work there every year, a decision Washington rejects saying it needs parliamentary consent. The hairy issue of recognizing products made in the joint-Korean Kaesong Industrial Complex in the North is expected to be put on the back burner due to North Korea¡¯s recent missile launches. The U.S is against recognizing products from the complex as made in South Korea.
Meanwhile, anti-FTA protesters pledged Friday to stage demonstrations throughout the negotiation period and hold a massive rally in Gwanghwamun on Wednesday with 100,000 participating.
(englishnews@chosun.com )
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