Korea FTA negotiations over EU 2 years agreement

According to the United States media 13 July reported that lasted for 2 years and 2 months of Korea-EU free trade negotiations in the final of 13 October, the EU plans to reach an agreement at the end of this year and Korea signed value up to $ 100 billion in trade agreements.

Accessing the Korea's President Lee Myung-bak Sweden and Sweden's Prime Minister Reinfeldt day in Stockholm City held talks with Prime Minister's Office. Both sides after the talks on the press conference, said that they were very happy in Korea-EU FTA signed significant progress, and hope to complete the relevant proceedings in order to sign a formal agreement as soon as possible.

It is understood that, if all goes well, Korea and the EU will last September to sign an interim agreement signed in February this year, the formal agreement. After that, the agreement will be by Korea and EU respective legislative approval, to come into effect in the first half of next year.

Korea-EU free trade agreements designed to further open the Korea trade barriers, increasing the EU countries and Korea's trade and investment. For Korea, the EU is China's second largest export market for EU, Korea is be aware of a trading partners, bilateral trade in 2008 reached $ 984. This Korea-EU free trade agreement was signed by the EU in Asia's first aimed at promoting trade more rapid development of bilateral agreements.

It is estimated that this agreement signed and entered into force, the EU and Korea two economies trade between will reach $ 100 billion. Sweden's Prime Minister Reinfeldt stated: "our trade negotiations in the last week has made substantial progress, so I hope that during the period of the agreement reached on the matter. "Currently, Sweden's Prime Minister Reinfeldt EU countries for a term of 6 months.

Although the EU and Korea agreement on this optimistic view, but there are still some EU Member States concerned, the EU's automobile industry is likely to be affected by this agreement, in the manufacturing and processing of job opportunities are likely to go to Korea.