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Monday, 16 March 2009 - Reports: South Korea, EU near free trade deal
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    Read more with google mobile : Reports: South Korea, EU near free trade deal

    Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Reports: South Korea, EU near free trade deal AP - Monday, March 16 SEOUL, South Korea - South Korea and the European Union are on the verge of concluding a free trade agreement and are considering making a formal announcement at next month's meeting of Group of 20 leaders in London, news reports said Monday. ADVERTISEMENT Yonhap news agency, citing officials it did not identify, said the two sides are near an agreement and will likely wrap it up at final talks next week in Seoul. Trade between South Korea and the EU reached over $90 billion in 2008. The EU is South Korea's second-largest trading partner after China, while the EU is the largest foreign investor in South Korea. The two sides have been negotiating since May 2007. Automobile trade, which strongly favors South Korea, has been a contentious issue. South Korean trade officials in charge of the negotiations could not immediately be reached for comment. Separately, South Korea's mass-circulation Dong-a Ilbo newspaper reported that the EU has proposed that the two sides announce the deal at the G-20 summit in London. Yonhap said South Korea and the EU have agreed to eliminate or phase out tariffs on 96 percent of EU products and 99 percent of South Korean goods with three years. The report also said they had agreed to eliminate all tariffs on cars within five years. South Korea and the EU are both eager to conclude free trade agreements. South Korea reached one with the United States, its fourth-largest trading partner, in 2007, though legislative ratification of the deal has languished in political limbo in both countries. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Free Trade Reports: South Korea, EU near free trade dealAP - Monday, March 16 SKorea urges US to ratify trade pactAFP - Wednesday, March 11 Obama administration rejects FTA pact with SKoreaAFP - Tuesday, March 10 Chile-Australia free trade agreement kicks inAFP - Saturday, March 7 Related Articles: Business RPT-GLOBAL MARKETS WEEKAHEAD-Bear market endgameReuters - 1 hour 25 minutes ago S.Korea Feb import prices gather pace on wonReuters - 1 hour 27 minutes ago Asian markets mostly higher but caution remainsAP - 1 hour 28 minutes ago Hitachi to cut $5.1 bln in costs, shuffle managementReuters - 1 hour 32 minutes ago India cbank offers 582.30 bln rupees at special repoReuters - 1 hour 36 minutes ago Related Full Coverage Free Trade Free Trade All Full Coverage Most Popular – Business Viewed Arrest warrant issued for Lindsay Lohan Bailed-out AIG plans bonuses worth millions: report For sale: nagging wife, very high maintenance World Bank warns of "very dangerous" year ahead Twin boys for Charlie Sheen and wife View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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