S Korea, China discuss FTA
South Korea and China held their first joint feasibility study for a free-trade agreement (FTA) in Beijing on Thursday and Friday, Seoul's Trade Ministry said.
Government officials, experts from various industries and academic scholars from both countries examined the possible economic effects of a bilateral FTA during the two-day meeting. They also selected issues to be covered and designed the pace and content of their joint study, the ministry said.South Korea's Agriculture Ministry said the sensitive nature of the country's agriculture industry was clarified and the need to protect sensitive farm products was stressed. Such studies take place before potential free-trade partners officially begin negotiations. South Korean President Roh Moo-hyun stressed the importance of an FTA with China during a presentation in Seoul last Tuseday of the nation's agricultural policies for this year. "An FTA with China will be inevitable in the future. The South Korean government has been investing heavily in the restructuring of the nation's agricultural sector in preparation for the FTA with China," he said.
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