US, ROK wrap up additional FTA talks
Ann/ The Korea Herald
South Korean and US negotiators wrapped up their two-day meeting in Seoul on Friday over a free trade deal on a cautious note, Korea's top negotiator said."We made it clear to Washington that we will take it slow and steady and not rush this matter to ensure that we fully understand the details and possible impact of Washington's proposals," Kim Jong-hoon, Seoul's chief negotiator for the Korea-US FTA, told reporters after the meeting concluded. "I believe Washington fully understands our position." Washington had formally asked Seoul last week to hold additional talks on the FTA deal, sealed in April, to reflect the Democratic-led Congress' new trade policies, which call for stronger labour and environmental regulations. Other policy revisions include the areas of pharmaceuticals, government procurement, investment, and port safety. There are less than 10 days remaining to sign the accord signed. Both countries raced to complete a trade deal by April 1 to meet the June 30 expiration of the Bush administration's trade promotion authority. The fast-track authority gives the White House the right to expedite trade deals so Congress can approve or reject the deal without amendments. Wendy Cutler, US chief negotiator for the bilateral trade pact, expressed hopes that the deadline would be met.
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