(11 May 2007)
1. Wide of Korean chief negotiator to the Korea-European Union (EU) Free-Trade Agreement (FTA) talks, Kim Han-soo, and EU chief negotiator Ignacio Garcia Bercero at podiums
2. Reporters
3. Kim and Garcia Bercero at podiums
4. Officials
5. SOUNDBITE: (Korean) Kim Han-soo, Korean Chief Negotiator:
"I believe that as the first round of negotiations this round was highly successful."
6. Side view of Kim and Garcia Bercero at podiums
7. Wide of news briefing
8. SOUNDBITE: (English) Ignacio Garcia Bercero, European Union's Chief Negotiator:
"Vice Minister Kim referred to the objective of at least 95 percent full liberalisation within no more than ten years. I can confirm that it is certainly an objective we have both agreed and I think that we have also both agreed that hopefully we will be able to go way beyond that in the course of our negotiation."
9. EU flag
10. Media
11. SOUNDBITE: (Korean) Kim Han-soo, Korean Chief Negotiator:
"We expect that there will be quite a number of difficulties that will come up in the remaining rounds."
12. Pan from media to Kim and Garcia Bercero at podiums
13. Media
14. Pan of Garcia Bercero leaving room
STORYLINE:
South Korea and the European Union concluded their first round of free trade negotiations on Friday, with both sides saying the talks took place in a positive mood and expressing hope that a deal can be concluded promptly.
"I believe that as the first round of negotiations this round was highly successful," Kim Han-soo, Seoul's chief negotiator, told reporters in Seoul.
No sectoral agreements were announced, but Kim said negotiators agreed to work towards liberalising at least 95 percent of tariffs on goods within ten years of an agreement taking effect.
Ignacio Garcia Bercero, the EU's chief negotiator, echoed Kim, calling the week very constructive.
He added, however, that the 95 percent target should only be seen as an indication of a minimum level of ambition.
"I think that we have also both agreed that hopefully we will be able to go way beyond that in the course of our negotiation," Garcia Bercero said.
Kim and Garcia Bercero, along with their respective teams, began the talks on Monday at a Seoul hotel.
The EU and South Korea did nearly 80 (b) billion US dollars of trade last year.
The EU is South Korea's second-biggest trading partner after China.
South Korea is the EU's eighth-largest trading partner, while the EU is the biggest foreign investor in South Korea.
If successful, an EU free trade deal would be South Korea's biggest, exceeding an agreement forged last month with the United States after ten months of contentious negotiations.
That pact needs be to be ratified by each countries' legislatures.
South Korea is seeking to increase exports to the EU of automobiles, textiles, electronics, movies and music as well as access for South Korean professionals such as architects and nurses.
The EU is looking to increase sales of autos and gain greater access to South Korea's service sector.
Garcia Bercero, echoing comments made on Sunday in Seoul by EU Trade Commissioner Peter Mandelson, said successfully concluding ongoing
trade liberalisation talks under the World Trade Organisation (WTO) remains a priority.
He said he thinks that an FTA (Free Trade Agreement) between Korea and the European Union, which are strong supporters of the WTO and the multilateral trading system, is something that would help and support the process of seeking progress on the Doha Round of negotiations.
In the end, they reached the agreement on April 2 in Seoul with just minutes to spare.
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