ISDS Case Map
services
The US wants Korea to open 11 service sectors including broadcasting and telecommunications, home delivery, legal and accounting services. In a third round of bilateral free-trade negotiations, the service sector is tipped to be the main stumbling block since Seoul has a mind to give in to few US demands except letting some US law firms operate here and some others.
New Zealand's free trade talks with Malaysia have become bogged down over differences about how much access should be given to service industries.
Australia told Beijing today it wanted access to China's services market by the end of the year, saying it needed to see real progress as the sixth round of free trade talks begin.
A financial research institute urged Korea to take a cautious approach in allowing cross-border insurance brokerage services as it would be harder to protect local consumers from potential damages.
Having submitted a revised offer to break the deadlock over the free trade negotiations with the Asean, India has now made clear that the pacts on services and investment will have to be implemented within a year of the implementation of the free trade agreement on goods.
As free trade deals go, it's got the potential to be a whopper.
The Australian manufacturing industry though, is nervously awaiting the outcome of a Federal Cabinet debate today on a free trade deal with China. Cabinet ministers will consider if it should offer to cut tariffs on Chinese imports in return for greater access to China's services industry.
China is optimistic of concluding the first part of a free trade agreement (FTA) with the six-nation GCC block by the end of this year, but the second part may take more time, officials said yesterday.
Australia, which is keen to tie up a free trade agreement (FTA) with Asean) by the end of 2007, wants the services sector and protection of intellectual property (IP) be given top priority in the trade pact.
"Ever since President Roh Moo Hyun revealed his intent to pursue a FTA with the United States, every aspect of Korean society from labor, agriculture, entertainment, civic groups, and health sectors have voiced their opposition to the proposed deal."
Beijing has told Canberra that opening access to China's services industry will be the most difficult aspect in bilateral free-trade negotiations, according to an Australian official.
