The government is promoting the launch of a FTA (Free Trade Agreement) agreement between Korea and Japan within the year and to fulfill it until 2005. 

At a briefing and a press talk on Oct. 12, Senior Presidential Secretary for National Policy O-Kyu Kwon remarked about President Roh’s attendance at the Asia-Pacific Economic Cooperation as, “President Roh’s purpose of visiting APEC is to open a summit talk between Korean and Japan and to promote the adoption of a joint declaration to set forth an administrative convention in government units between the two countries by the end of the year.” 

Kwon said, “A nongovernmental report on FTA joint research results between the two countries has been made last month and the government has accepted the report. If agreements start within the year, conclusion will be planned be fulfilled until 2005.” 

He also added, “If FTA is concluded between both countries, accessorial material of minor enterprises or part of the consumer products industry may be in a disadvantageous position, but agriculture will make a turnover. By a long-term outlook, investments on Japan will increase inducement on foreign capital to Korea as well. The FTA bill will include investment agreement and technical transfer matters.” 

In addition, “President Roh will visit Singapore as a national guest after attending APEC. FTA will be officially discussed with the Singapore government and will also be promoted to concluded until 2005.” 

Another core resource explained, “A FTA agreement between Korea and Singapore within this year will also be propelled.” 

Source : ETnews 203.10.13