The FINANCIAL — Brussels, 10 October 2011 – EU Trade Commissioner Karel De Gucht leaves today for Seoul to co-chair the first meeting of the Trade Committee under the EU-South Korea Free Trade Agreement (FTA).
During his 3 day visit De Gucht will meet with South Korea's Trade Minister Kim Jong-hoon, representatives of the local EU business community and the EU Member States. He will also participate in the World Knowledge Forum in Seoul, which is regarded as the ‘Davos of Asia’. The Forum brings together opinion and business leaders to discuss the greatest challenges and opportunities the world is facing.
"I wanted to come to South Korea to see for myself how business is better off from this important free trade agreement. This meeting marks the start of a new era in the EU-South Korea trade relations", said Commissioner De Gucht. "Given the economic dynamism in Asia, and especially in South Korea, this FTA brings along considerable opportunities for both sides."
100 days after the EU-South Korea trade deal became operational, the EU-South Korea Trade Committee will discuss the state of play of the implementation of the FTA and how to enhance the EU's and South Korea's cooperation in promoting bilateral trade. International matters such as the Doha negotiations will also be addressed.
In his meeting with the EU business community in South Korea the Commissioner will present an update on the first 100 days of operation of the EU-South Korea FTA. Finally, he will take part in the World Knowledge Forum and, along with other top officials, discuss the future of trade policy as well as the implications of the EU-South Korea FTA on trade relations with other Asian countries.
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