EU urges South Korea to be 'more ambitious' in trade talks
Sunday, 22 July 2007
BRUSSELS, July 21 (AFP): The European Commission urged South Korea yesterday to make a better offer in their next round of trade talks in September, after five days of negotiations in Brussels involving some 180 officials.
"Negotiations have just concluded. They have been successful," said Peter Power, the EU executive body's spokesman on trade issues.
"However we have made it clear that for these negotiations to reach their absolute potential, the Korean delegation needs to come with a somewhat more ambitious offer for the next round of negotiations," he said.
Asia's third largest economy and the world's biggest trading bloc began talks on a free trade area in May.
The Commission said the two sides had discussed issues including trade in goods, services and investment, intellectual property rights, competition, and government procurement, as well as regulatory and institutional questions.
"Negotiations have just concluded. They have been successful," said Peter Power, the EU executive body's spokesman on trade issues.
"However we have made it clear that for these negotiations to reach their absolute potential, the Korean delegation needs to come with a somewhat more ambitious offer for the next round of negotiations," he said.
Asia's third largest economy and the world's biggest trading bloc began talks on a free trade area in May.
The Commission said the two sides had discussed issues including trade in goods, services and investment, intellectual property rights, competition, and government procurement, as well as regulatory and institutional questions.