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Korea, Canada to conclude free trade deal as soon as possible

Korea, Canada to conclude free trade deal as soon as possible

Posted June. 20, 2012 05:04,   

한국어

President Lee Myung-bak and Canadian Prime Minister Stephen Harper agreed to sign a bilateral free trade agreement as soon as possible in talks held on the sidelines of the G-20 summit in Los Cabos, Mexico Monday.

Harper had asked to resume negotiations on the accord, and a Korean presidential spokesman quoted President Lee as saying, “Concrete discussions are underway. I hope they are going along well.”

The two countries began negotiations on the deal in 2005 but stalled in March 2008 over beef imports.

Korea has also agreed to pursue a similar deal with Mexico, another party to the North American Free Trade Agreement along with the U.S. and Canada.

President Lee will visit Bogota on Saturday for talks with Colombian President Juan Manuel Santos and announce the conclusion of a free trade agreement between both sides.

Separately, the Korean president said in the first session of the G-20 summit at the Los Cabos Convention Center on the European financial crisis, “I urge European countries to thoroughly devise fundamental measures. They have to conduct bold reforms.”

“The European financial crisis is affecting Korea as well as all countries around the world,” he said, adding, “(European) countries directly involved in the crisis should recover market trust and generate growth engines through a strong will to overcome the crisis and fundamental restructuring.”



srkim@donga.com