The Fifth Round of Korea-EU FTA Negotiations to be Held
Korea and the EU will work towards concluding negotiations by carrying out intensive negotiations based on the consolidated text and commitments made for each sector during last four rounds of negotiations, which were first initiated in May of 2007.
As the Korea-EU FTA negotiations have been progressing at a rather fast pace, both sides have narrowed down their core points of dispute to the areas of tariff offers, regulations on automobiles, IPR, rules of origin and issues concerning the Kaesung Industrial Complex. Technical consultations have yet been resolved in the areas of TBT, SPS, government procurement, sustainable development and dispute settlement. Both sides will work towards resolving these issues as much as possible during this round of negotiations.
Concerning tariff offers, Korea will strive to settle an agreement that reduces tariffs for Korea’s major exports to the EU while also reforming Korea’s tariff offers keeping in mind the concessions made at the Korea-U.S. FTA negotiations. Korea will also continue to work towards achieving an FTA that brings mutual benefits and protects the sensitive sectors of the Korean economy.
The Korean delegation will be led by Kim Han-soo, the Deputy Minister for FTAs, and will consist of 130 delegates, while the EU delegation will be led by Ignacio Garcia Bercero, the Director of Bilateral Trade Relations at the European Commission, and will consist of 60 delegates.
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