Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-12-13-Speech-4-050"

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"Mr President, Korea is one of the leading economies in the world, but at the same time it has the greatest difference in income among the OECD states. Korea is the EU’s fourth largest trade partner outside Europe, whereas in 2006 the EU was the largest foreign investor in Korea. The main problem in our bilateral trade relations is difficulty of access to the market across non-tariff barriers, including a lack of accepted norms and international standards. A free trade agreement with Korea should include protection for foreign investments, a competition policy, public order transparency and trade facilitation. We must also bear in mind, though, that this agreement could have a negative impact on the European automobile industry, so the Commission must give careful consideration to the strategy of gradual removal of EU import duties. First of all, non-tariff barriers on the Korean side must be withdrawn, so that it does not turn out that the sole beneficiary of this cooperation is Korea."@en1

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