Korea Signs FTA with EU

[bluesky79]

The official signing of the Korea-European Union free trade agreement took place Wednesday in Brussels, Belgium.
The ambitious trade deal slated to take effect starting July next year will eliminate tariffs on almost all goods with over 99 percent of them wiped out by 2013.
With the EU being Korea's second largest trading partner after China and the pact being the first deal with an Asian trading partner for the EU Korea is estimated to see a 20 percent growth in trade with the 27-member European bloc.
The pact which analysts refer to as one of the biggest deals in trade history is also speculated to speed up the dormant process of the Korea-US FTA ratification and push for similar accords with China and Japan.
A presidential official said the accord is all the more meaningful in the sense that it is not merely an economic alliance but a show of common understanding of democracy and economic philosophy.
Korean President Lee Myung-bak who attended the signing ceremony of the FTA told reporters at a joint press conference that the agreement would serve as a chance for deepening the overall relations of the two sides.

Korea Signs FTA with EU

 

[uscitizen]

More globalization, lets race to the bottom!

 

[loosecannon]

this is probably about weakening China, divide and conquer, all that

 

[zzzz]

I see an FTA with China and the US on the horizon. The spat over tariffs with the Chinese is just a precursor.

 

[loosecannon]

wanna bet?