Seoul--(뉴스와이어)--Trade Minister Kim Jong-hoon visited Davos, Switzerland to attend the World Economic Forum Annual Meeting from January 25-26. During his visit, Minister Kim participated in sessions with world economic leaders and held bilateral talks with trade ministers from the and EU to discuss issues concerning ’s FTAs.

After meeting with Australian Trade Minister Simon Crean, Minister Kim paneled a session titled “The Challenge of Asian Integration” with the Singaporean Minister of Foreign Affairs, George Yeo. Minister Kim gave an opening speech on the growing importance of achieving a unified economy within Asia.

O On January 26, Minster Kim participated in another session alongside Akira Amari, the Japanese Minister of Trade, Economy and Industry, Pascal Lamy, the Secretary General of the WTO and Thomas Donohue, CEO of AMCHAM, in a session titled "Revitalising Multilateral Trade Talks", while also participating in an informal WTO meeting for ministers held by the Swiss Minister of Trade to discuss ways to accelerate the negotiations on the Doha Development Agenda (DDA).

O At this meeting, Minister Kim pointed out that in order to the DDA negotiations, a balance must be reached between the reality of the negotiations and the considerably high objectives. However, he also pointed out that efforts made to reach an equilibrium should not become an obstacle in reaching a conclusion to the negotiations.

On January 25, Minister Kim met with EU Trade Commissioner Peter Mandelson to discuss ways to achieve progress in the upcoming round of Korea-EU FTA negotiations that will be held in Seoul next week.

O Minister Kim firmly requested that the EU bring forth tariff offers that address ’s concerns in ’s areas of main interest such as automobiles and textiles, while Commissioner Mandelson emphasized the need to resolve non-tariff barriers such as automobile standards.

Minister Kim met with USTR Susan Schwab to examine progress being made in ratifying the Korea-U.S. FTA by the national assemblies of each country. Both representatives agreed that and the would continue to work together to enable the Korea-U.S. FTA to come into effect at the earliest date possible.