Asia-Pacific

ROK, US push for FTA ahead of G20 summit

(Xinhua)
Updated: 2010-11-09 13:21

The Republic of Korea's President Lee Myung-bak (C) talks with his staff as he inspects the venue of the upcoming G20 Summit, in Seoul November 6, 2010. [Photo/Agencies]

SEOUL - Top trade officials from the Republic of Korea (ROK) and the United States began Tuesday the second day of negotiations aimed at ironing out differences on their two-way trade pact before their presidents meet later this week for the G20 summit here.

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ROK Trade Minister Kim Jong-hoon and his US counterpart Ron Kirk failed to make a breakthrough during Monday's negotiations due to outstanding issues, including auto trade imbalances and US beef imports, which have stopped the trade pact from getting legislative approval in both countries for more than three years.

The last-ditch efforts comes after ROK President Lee Myung-bak and his American counterpart, Barak Obama, agreed to reach a final compromise on the trade agreement, originally struck in 2007, before they meet on Thursday on the sidelines of the G20 summit here.

Kim told reporters following negotiations Monday that the US side expressed concerns that ROK's strict environment and safety standards might further impede already low American car sales here.

Regarding the US demand that the ROK further opens up its beef market, the ROK is sticking to its stance that the beef issue, a highly contentious issue here with the public wary of mad cow disease, is unrelated to the free trade agreement.

Local media forecasted Tuesday's marathon meetings will make significant progress, with Seoul expected to make concession regarding auto trade while the beef issues left unaddressed.