|
The European Union on Monday approved a negotiating mandate for free trade talks with Korea at a meeting of its External Relations Committee in Luxemburg. Now a meeting of economy-related ministers in Korea later this week is expected to give the green light to trade talks with the EU.
At the External Relations Committee meeting, European foreign ministers approved negotiating mandates for free trade agreements with Korea, India, ASEAN, the Andean Community and the Central American Common Market requested by the European Commission. The EU pledged in trade framework to build a new multilateral free trade system, which is compatible with the current World Trade Organization, by ˇ°focusing on areas not currently covered by WTO rules such as investment, trade in certain services and the removal of non-tariff barriers.ˇ±
The first round of trade talks between Korea and the EU will open in Seoul on May 7. In the first round of talks running through May 11, the two sides will exchange lists of products they want to protect. They will also discuss basic negotiation principles and negotiate in some sectors like services and investment. Some 50 Korean negotiators will participate in the talks with 30-40 delegates from Europe. In trade talks with the U.S. concluded early this month, about 200 Korean representatives took part.
(englishnews@chosun.com )
|
