Second round of preparatory talks for a Korea-EU FTA to be held
* A conference was held on June 19, 2006 to explain the advantages and disadvantages of a Korea-EU FTA and the first round of preparatory talks was held on July 19, 2006.
At this round of talks, both sides plans to have in-depth discussions on mutual areas of interests such as trade in goods, place of origin, customs procedures, investment, intellectual property rights, settlement of disputed areas, competition, environment, and labor based on the major contents of FTAs that the two sides have concluded with other countries in the past.
The Korea-EU preparatory talks are not meant to be a basis for the launching of official negations but rather a chance for both sides to confirm the overall level of aspiration of each side for an FTA and find out possible areas of disputes.
The Korean government plans to decide on the feasibility of a formal Korea-EU FTA after thoroughly examining the results of the preparatory talks, research results on the economic benefits of a Korea-EU FTA and after collecting the opinions of all the concerned parties of each area as well as relevant developments and trends in the EU.
At this round of preparatory talks, Mr. Lee Gun-tae, Director-General of the Bilateral Trade Bureau of the Ministry of Foreign Affairs and Trade, will head Korea's delegation consisting of representatives from the Ministry of Finance and Economy, Ministry of Commerce, Industry and Energy, Ministry of Agriculture and Forestry, Ministry of Maritime Affairs and Fisheries, and other concerned parties. Mr. Ignacio Garcia Bercero, Director of Trade Relations with Asia of the European Commission will head the EU side consisting of representatives from concerned parties of the European Commission.
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