ISDS Case Map
Korea
Soaring Australian beef exports to the lucrative South Korean market could suffer after South Korea lifted restrictions on US imports.
South Korean President Lee Myung Bak and Japanese Prime Minister Yasuo Fukuda failed to agree on resuming negotiations for a free-trade agreement when they met today in Tokyo for their first official summit.
President Lee Myung-bak and U.S. President George W. Bush shared the view that the free trade agreement (FTA) is important for the two countries' alliance.
The United States and South Korea may have ended a longstanding row over beef but the headway seems insufficient to convince the Democratic-controlled Congress to ratify a free trade agreement between the two allies.
The United States and Korea concluded an agreement on April 18, 2008 to fully reopen
South Korea's market to all US beef and beef products irrespective of whether or not the FTA is ratified
South Korea on Friday agreed to open up to U.S. beef imports after Washington pledged to raise safety standards, boosting prospects for a sweeping trade deal ahead of a summit between leaders of the allies later in the day.
The United States is using bilateral trade agreements to arm-twist weaker countries into accepting its food safety standards as a tool to expand the market control of US corporations. South Korea is the latest victim.
President Lee Myung-bak is expected to promise a full opening of the domestic beef market to the United States in exchange for U.S. authorization of South Koreans to tour the United States under the Visa Waiver Program (VWP).
Top trade officials from South Korea and the European Union (EU) plan to meet in Japan next week to discuss how both sides will carry out the ongoing free trade negotiations
Meat and Livestock Australia managing director, David Palmer, has accompanied Federal Minister for Agriculture, Tony Burke, in Korea to lend support for the commencement of free trade agreement negotiations between Australia and Korea.
