This is a response to the irrational passivity in Korean policy after BSE-tainted U.S. beef was found in California and the Seoul government failed to take strong enough action on beef imports.
The Korea Trade Investment Promotion Agency said Monday that it will hold a business fair for European retail companies next month on the first anniversary of the Korea-EU free trade pact.
Japan is becoming increasingly “eager” to join a free trade agreement (FTA) with China and South Korea while it is unable to join a broader Asian trade pact, and as Beijing and Seoul began negotiations on an agreement, said the ministry of commerce.
President Ma Ying-jeou (馬英九) yesterday said the trilateral negotiations on free-trade agreements (FTA) between China, South Korea and Japan has put great pressure on Taiwan, and that he expects the nation to join the potential new free-trade zone in Northeast Asia.
Despite an agreement to launch talks on a three-way free trade agreement this year, Japan, China and South Korea have different priorities, leaving the prospects for their trilateral trade initiative unclear.
The leaders of Japan, China and South Korea announced Sunday that the countries will launch negotiations for a trilateral free trade agreement by the end of this year. But the prospects are far from rosy.