Interviews
Wider passage in US textile market demanded
18 Jan '07
1 min read
Washington is trying to conclude free trade agreement between Korea and US by late March as they started official discussions on textiles yesterday.
Korea is demanding wider access to the US textile market as tariff imposed on the country exceeds 10 percent over 2.5 percent on average.
Country wants immediate elimination of tariff imposed on textiles and US to allow exports of products made in Korea using materials from another country.
But US is not accepting the demand as it will have to do the same in trade pacts with other countries.
Both the sides will try to resolve difference on the issue today and agricultural issues will also be discussed that can significantly affect the deal.
Experts believe that bilateral trade pact would be more beneficial to the Korean economy in the short and long term. FTA will increase productivity and industrial structure of the country.
Korea is demanding wider access to the US textile market as tariff imposed on the country exceeds 10 percent over 2.5 percent on average.
Country wants immediate elimination of tariff imposed on textiles and US to allow exports of products made in Korea using materials from another country.
But US is not accepting the demand as it will have to do the same in trade pacts with other countries.
Both the sides will try to resolve difference on the issue today and agricultural issues will also be discussed that can significantly affect the deal.
Experts believe that bilateral trade pact would be more beneficial to the Korean economy in the short and long term. FTA will increase productivity and industrial structure of the country.
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