Gov’t to Negotiate with Singapore for FTA

The government decided to start negotiations with Singapore within this year for a Free Trade Agreement (FTA).

The Roh administration checked a roadmap to push for an FTA in a meeting presided by Finance and Economy Minister Kim Jin-pyo on August 30.

According to the roadmap, the government will begin negotiating with Singapore within this year while launching negotiations with Japan, which it currently conducts a joint research, as soon as possible.

The government is expected to propose a joint research to the Association of Southeast Asian Nations (ASEAN) and Mexico as soon as possible through a working-level discussion.

Meanwhile, 86.1 percent of 399 companies were found to have voted for an FTA with Japan, in a recent survey conducted by the Small and Medium Business Administration.

Small and medium businesses expected that when that happens, exports to Japan will increase and prices will fall.

Ki-Jeong Ko koh@donga.com