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Korea and U.S. to Discuss FTA Implementation

The Ministry of Trade, Industry and Energy (MOTIE) announced today that it will hold a working level meeting on small- and medium-sized enterprises and a meeting of the Committee on Trade Remedies in Washington, D.C. tomorrow.

Representatives from MOTIE, the Ministry of Strategy and Finance, Ministry of Foreign Affairs, Small and Medium Business Administration and the Korea Trade Commission will attend the meeting. From the United States, officials from the Office of the United States Trade Representatives, Department of Commerce, International Trade Center (ITC) and the U.S. Small Business Administration will participate in the discussion.

At the working level meeting on small- and medium-sized enterprises, effects of the FTA on small- and medium-sized enterprises will be analyzed. Korea and the United States will discuss cooperative measures for enhanced implementation of the FTA.

MOTIE forecast that the exports of small- and medium-sized enterprises to the United States between April 2012 and February 2013 increased by 1.26 percent year-on-year after the Korea-US FTA went into effect.

ITC released that U.S. exports to Korea increased by 7.2 percent whereas imports decreased by 3.4 percent from March 2012 to February 2013.

The Committee on Trade Remedies will look over regulations, matters of policy concern and cooperative measures including antidumping and countervailing duties.

Source Text

Source: Yonhap News (June 26, 2013)

** This article was translated from the Korean.

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