EU’s Free Trade Agreement with South Korea

All the EU member states have now given their approval to proceeding further towards the conclusion of the free trade agreement with South Korea. The presidency of the EU welcomes this result in view of the great economic advantages the agreement will entail.

Last Friday, July 10, the EU 133-committee discussed the positions in the free trade agreement negotiation with the Republic of Korea. The European Commission received approval from the member states to proceed further towards the conclusion of the agreement, based on the final package of compromises which the Commission and South Korea have reached. Some of the EU member states emphasized the need to scrutinize some technical details, such as the implementation of some of the elements in the agreement including the considered safety mechanism. Before closing the meeting the 133-committee reemphasized the great importance it attached to the economic advantages that the agreement will bring.

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