S.Korea-EU FTA imminent
S.KOREA: The South Korea-European Union (EU) free trade agreement (FTA)
is at the final stage of negotiations as South Korean President Lee
Myung-bak is on an official trip to Europe, South Korea's Yonhap News
Agency reported Wednesday.
The South Korean government said it has given the final proposal to
the European Commission, the executive body of the EU, over thorny
issues such as the duty drawback scheme, which the committee is now on
discussion, the Yonhap said.
"We are in final consultations with the EU for the conclusion of
negotiations on the Korea-EU FTA," South Korean presidential spokeswoman
Kim Eun-hye told reporters.
"As the European Commission wraps up its internal negotiations to tap
their final stance on the FTA, an announcement of the pact will soon be
made," the official added.
The South Korean government is pushing for an oral announcement of
the settlement on July 13 as President Lee holds a summit with his
Swedish counterpart Fredrik Reinfeldt, Yonhap said.
"We have reached a substantial agreement as we have gone through a
long period of negotiation processes," President Lee said during an
interview with European media, adding that he expects to sign the pact
in July or August.
South Korea and the European Union have held eight rounds of
negotiations for the free trade pact, the last of which was held in
March.
SEOUL, Xinhua
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