S. Korea, U.S agree on exchanging textile concessions
The top South Korean negotiator has agreed to exchange tariff concessions on agriculture and textile in the middle of next month with the United States at the free trade talks, Kim Jong-hoon, South Korean ambassador in charge of free trade talks said here on July 13.
Egytex News Desk
Egytex
The ambassador further clarified that both the countries agreed ahead of a planned third round of talks in September.
However both nations agreed to simultaneously exchange concessions on textile and agriculture during the first half of August as they have entered a penultimate day of second round of talks for a proposed free trade agreement.
South Korea and the United States are further hoping to wrap up the negotiations by the end of this year, while in the case of textile, Korean government has demanded the US to abolish all tariffs within five years.
Source: Bharattextiles.com
From the Egytex news archive, first published on 24 July 2006. Figures and names are as reported at the time.
