SKorea, India to discuss tariff cuts under free trade deal
South Korea and India will discuss proposed tariff cuts during another round of talks this week on a planned free trade deal.
By Agencies |
SEOUL: South Korea and India will discuss proposed tariff cuts during another round of talks this week on a planned free trade deal, the South Korean government said on Saturday.
At the four-day meeting starting in New Delhi tomorrow, the two sides will give details of their initial offers on tariffs, the Ministry of Agriculture and Forestry said.
Seoul and New Delhi started talks on a Comprehensive Economic Partnership Agreement(CEPA), similar to a free trade deal, in March 2006.
This week they are also expected to discuss place-of-origin rules for agricultural products and processed goods, the ministry said.
It said both sides have already agreed on the need to make some allowances for agricultural sectors that could be hurt by liberalisation.
CEPA seeks to promote trade, investment and economic cooperation by reducing tariff and non-tariff barriers.
The Seoul government sees free trade deals as crucial to make its economy more competitive.
It signed a sweeping free trade pact with the US last month that still needs approval by the legislatures of both countries and is holding similar talks with the European Union.
Seoul already has FTAs with Chile, Singapore, the European Free Trade Association and the Association of Southeast Asian Nations, excluding Thailand.
At the four-day meeting starting in New Delhi tomorrow, the two sides will give details of their initial offers on tariffs, the Ministry of Agriculture and Forestry said.
Seoul and New Delhi started talks on a Comprehensive Economic Partnership Agreement(CEPA), similar to a free trade deal, in March 2006.
This week they are also expected to discuss place-of-origin rules for agricultural products and processed goods, the ministry said.
It said both sides have already agreed on the need to make some allowances for agricultural sectors that could be hurt by liberalisation.
CEPA seeks to promote trade, investment and economic cooperation by reducing tariff and non-tariff barriers.
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The Seoul government sees free trade deals as crucial to make its economy more competitive.
It signed a sweeping free trade pact with the US last month that still needs approval by the legislatures of both countries and is holding similar talks with the European Union.
Seoul already has FTAs with Chile, Singapore, the European Free Trade Association and the Association of Southeast Asian Nations, excluding Thailand.
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