The launching of the sixth round of Korea-Canada FTA negotiations
The Korean side will be led by Director-General of the Free Trade Agreement Bureau, Mr. Kim Han-soo, and will be composed on 80 officials from related ministries such as the Ministry of Foreign Affairs and Trade, the Ministry of Finance and Economy, the Ministry of Commerce, Industry and Energy, and the Ministry of Agriculture and Forestry. The Canadian delegation will be headed by Director-General of the Regional Trade Policy Division of the Department of Foreign Affairs and International Trade, Mr. Ian Burney, and will consist of 40 members.
This round of negotiations will continue talks from the previous round on issues such as trade in goods and services (including communications and movement in labor), investment, e-commerce, and labor and finalize article-by-article discussion on the consolidated text of the agreement.
The two sides plan to continue tariff concession negotiations for liberalization of trade in goods and services and for expansion of investment by exchanging additional tariff offers, following the tariff offers for products and reservations for services that were exchanged during the previously held fifth round of negotiations.
Furthermore, by holding a seminar on the Net Cost Method led by an expert on rules of origin from the Canada Border Services Agency from June 22-23 at the Ministry of Foreign Affairs and Trade building, the two sides established a solid foundation for implementing smooth progress in the negotiations on rules of origin and customs. This seminar was attended by officials in charge of rules of origin negotiations in each ministry and also by 30 representatives from related industries.
The Korea-Canada FTA is part of the "multi-track" FTA negotiations being conducted under the Korean government’s "FTA Roadmap." According to the Korea Institute for International Economic Policy (KIEP), trade between Korea and Canada is predicted to increase by 80% in the mid-to-long term in the case of the elimination of all tariff and non-tariff barriers brought about by a Korea-Canada FTA.
이 보도자료는 Ministry of Foreign Affairs & Trade가(이) 작성해 뉴스와이어 서비스를 통해 배포한 뉴스입니다. 뉴스와이어는 편집 가이드라인을 준수합니다.