Home / Knowledge / News / Textiles / New round to play vital role in conclusion of KORUS FTA

New round to play vital role in conclusion of KORUS FTA

15
Feb '07
The Korean chief negotiator Kim Jong-hoon stressed on Feb.11 (Sunday) that the seventh round of KORUS FTA (Korea-U.S. free trade agreement) negotiations will be pivotal for the success of the bilateral trade talks, saying that he called for his American counterpart to work closely together to strike a deal on the talks.

The Korean top trade official made the remarks at a news conference for Korean reporters late Sunday after finishing the first day of trade negotiations between Seoul and Washington.

“We will exert utmost efforts to make significant progress at this round in order to lay foundation for conclusion of the bilateral deal until end of March,” stated Kim at the conference.

As both negotiation teams are increasingly feeling the pressure to conclude the deal, the seventh round of Korea-U.S. Free Trade Agreement (KORUS FTA) began on February 11 in Washington, DC, during which all fields of the agreement are to be discussed, drawing closer to concluding the accord.

“The fact that we are starting on a Sunday, demonstrates the commitment and diligence of both negotiating teams to concluding this agreement,” said Wendy Cutler, the chief negotiator for the U.S.

In the current session, Cutler told the reporters that all 17 groups will meet with two working groups, which includes four sections that were not included in the sixth round: Automobiles, pharmaceutical, trade remedies, and SPS.

As the “fast track” negotiationauthority of the U.S. president set to expire on June 30, the representatives from both sides would have to conclude the deal by late March, or early April. The current deadline is set to April 2.


Must ReadView All

Pic: ADB

Textiles | On 22nd Sep 2021

ADB trims developing Asia 2021 growth outlook to 7.1%

The Asian Development Bank (ADB) lowered its 2021 economic growth...

Pic: Shutterstock

Textiles | On 22nd Sep 2021

Mexican cotton outlook seems promising in MY 2021-22: TexPro

Mexican cotton outlook has been improving gradually due to...

Pic: Shutterstock

Apparel/Garments | On 22nd Sep 2021

Bangladesh RMG exporters fear losses due to problems at airport

Apparel exporters in Bangladesh are expecting significant losses for...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Dr. Sean Blamires, Evolution and Ecology Research Centre

Dr. Sean Blamires
Evolution and Ecology Research Centre

Using spider silk for clothing may not seem to be an attractive...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search