The latest effort by the United States and South Korea to reach
a landmark free-trade agreement got off to a rocky start Monday,
with Washington saying talks may carry over into 2007, while Seoul
reportedly criticized a US offer on tariff reduction.
The two sides opened their fourth round of negotiations since
June on the southern resort island of Jeju, where thousands of
demonstrators opposing free trade with the US called for the talks
to be scrapped.
Since announcing their intention to launch the negotiations in
February, both sides have consistently said they wanted to reach a
basic agreement by the end of 2006. That is now in question.
"We are still trying to conclude this agreement by the end of
this year or early next year," US Assistant Trade Representative
Wendy Cutler told reporters, suggesting the talks, which she
acknowledged have been tough, may drag on.
The timetable is important because US President George W. Bush's
legal authority to "fast track" a deal expires in mid-2007 and both
the US Congress and South Korea's National Assembly need time to
debate and vote on any deal.
Fast-tracking allows US envoys to negotiate an agreement that
can be submitted to Congress for a yes-or-no vote without
amendments.
Calling that authority a "window of opportunity," Cutler added,
however, that it "doesn't mean that the United States or (South)
Korea are going to rush to conclude this agreement."
The two governments are seeking a deal that officials say will
boost economic growth by increasing trade between the world's
largest and 10th-largest economies.
The stakes are high. The accord, if achieved, would be the
largest for the US since the North American Free Trade Agreement in
1993.
"We have US$72 billion in two-way trade so it's only natural
that there are a lot of issues at hand to be negotiated and frankly
a lot of concerns and sensitivities on both sides that need to be
addressed," Cutler said.
Cutler and her South Korean counterpart, veteran trade diplomat
Kim Jong-hoon, kicked off the latest round with a handshake earlier
in the day at a swank hotel in Seogwipo, a city at the southern tip
of Jeju.
(China Daily October 24, 2006)
