Outcome of the 2nd round of negotiations for the Korea-Mexico strategic economic complementation agreement
SECA was proposed by Mexico during a joint study between the two countries as an alternative to a Korea-Mexico FTA. Although Korea wished to enter into an FTA, Mexico was facing heavy opposition from its industrial sector.
The 2nd round negotiations were based on preliminary drafts of the agreement, which were prepared in subsections including trade in goods, trade remedy, origin of goods and customs procedures, service and investments, economic cooperation, intellectual property, conflict resolution and so on. We were able to narrow the differences that existed between the two countries.
Due to the reluctant position of the Mexican industry, the two parties were not able to exchange full-tariff offers as planned. The two countries agreed to exchange tariff concession drafts at the next round of meetings and exchanged lists of their respective items of interest, providing a foundation for future negotiations on concessions.
The 3rd round of negotiations has been scheduled for June 14-16, 2006 and is to be held in Seoul.
Director-General Kim Han-soo of the FTA Division of the Ministry of Foreign Affairs and Trade served as the head of the Korean delegation during this round of talks. The Korean delegation was composed of 30 people including officials from the related departments of the Ministry of Foreign Affairs and Trade, the Ministry of Finance and Economy, the Ministry of Commerce, Industry and Energy, the Ministry of Agriculture and Forestry and so on. The Mexican delegation was headed by Roberto Zapata, Director General of Multilateral and Regional Negotiations of the Ministry of Economy. 70 officials participated from related ministries.
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