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South Korea Speeds Up FTA With Mexico

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South Korea Speeds Up FTA With Mexico

South Korean President Roh Moo-hyun’s visit here will likely be a great challenge for the two countries, which are haggling over a free trade agreement (FTA) across the Pacific Ocean.

During the state visit by President Roh to the Central American nation from Sept. 8 to 10, South Korea hopes to speed up negotiations for an economic partnership agreement (EPA), which includes an FTA and other measures for economic cooperation.

The two countries have been in consultation on the matter since May last year when they launched a joint study team for the EPA. But, just ahead of the scheduled South Korea-Mexico summit, Mexico declared a breakdown in the negotiations, citing unfavorable public opinion at home.

In addition to unfavorable public opinion in Mexico, which believes Mexico has already signed “too many’’ FTAs, South Korean officials said, Mexico’s request for “additional concessions’’ was one of the barriers that stalled the negotiations.

More: times.hankooki.com

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