By Kang Hyun-kyung
Rival parties are still at odds over a free trade deal signed with the United States even after the U.S. Congress ratified the pact Thursday (KST). They also show few signs of reaching a consensus over the long-delayed bill at the moment.
The ruling Grand National Party (GNP) is eager to push the main opposition Democratic Party (DP) to cooperate in passing the so-called KORUS FTA in the National Assembly by the end of this month.
With Congress having already ratified the bill, GNP floor leader Hwang Woo-yea said, the completion of parliamentary approval at an early date will be in the best interests of the country as it is heavily dependent on trade.
But Rep. Kim Jin-pyo, floor leader of the DP, dismissed the call, urging the government to seek renegotiation with the United States to fix parts related to small-sized companies and vendors who are likely to be hardest hit if the trade deal goes into effect.
Under the so-called “10+2 proposal,” the DP is demanding that the ruling party, as well as the government, come up with protective measures for farmers and banking sector workers who are likely to lose out.
Representatives of the two parties, along with Trade Minister Kim Jong-hoon, sat down in the National Assembly in an effort to reach a consensus on the parliamentary endorsement over the bill before the commencement of a National Assembly Foreign Affairs, Trade and Unification Committee meeting.
The ruling party suggested its favored timeframe. It wants members of the committee to approve the motion by next Tuesday and then send it to the plenary session no later than Oct. 28.
The ruling party wants to finalize approval before November, because from next month the National Assembly will be tied up with a budget debate.
The ruling and opposition parties are expected to play out another tug of war over this, making it difficult for lawmakers to deal with the KORUS FTA.
Trade Minister Kim said, “If the trade deal gets parliamentary approval by the end of this month, there will be no major problems for it to go into effect from Jan. 1 next year.”
At the moment, the timeframe appears to be wishful thinking by the ruling party and the government. Opposition parties reiterated their unwillingness to cooperate in the GNP’s push.
Rep. Kim Dong-cheol of the DP said the completion of the U.S. side on the trade agreement to take effect didn’t mean anything to the Assembly.
“We proposed the 10+2 plan four months ago, but the GNP has remained silent during the time period. And suddenly they urged us to work together to pass the trade pact, after U.S. Congress approved it,” he said.
“If the Assembly hurriedly goes for ratifying the bill over the next 10 or 20 days without making any changes, I’m afraid this could deal a serious blow to the national interest.”
If the two sides fail to agree on the parliamentary endorsement, there is a possibility that the ruling GNP with a majority of 168 out of 299 parliamentary seats will push for ratification, despite resistance from opposition parties.
There are 14 bills that also have to be passed to make the trade pact take effect. GNP lawmakers said there is no time to delay.
Analysts say election politics is one reason behind the partisan behavior over the trade deal. By-elections are slated for Oct. 26, and the ruling and opposition parties don’t want to lose their support base.