FTA Signing May Be Delayed
By Kim Yon-se
Staff Reporter
Many experts are issuing a possibility of the summit between President Roh Moo-hyun and George W. Bush at the end of June to sign the provisional free trade agreement between Seoul and Washington.
However, the signing could be delayed as the possibility that the Bush administration's trade promotion authority, which is supposed to expire July 1, will be extended is growing.
The TPA, which was granted by the U.S. Congress, enables the Bush administration to negotiate trade deals with minimal congressional interference.
The possibility has emerged as Korea and the U.S. have tentatively agreed to hold a renegotiation on the FTA which concluded April 2.
``It seems that Bush has decided to accept Democrats' demand to renegotiate the sectors of labor and environment with Korea,'' said Lee Hae-young, an international relations professor of Hanshin University.
``Instead, Bush could enjoy an extension of his TPA, as long as Korean negotiators are forced to accept the Democrats' demand,'' Lee said. ``Under the scenario, it is unnecessary for Roh and Bush to sign the deal by the end of June.''
Aside from labor and environment, U.S. negotiators will likely demand more in the ``automobiles'' and ``beef'' in their coming renegotiations with Korea, he added.
Jung Tae-in, a former aide to President Roh for economic affairs, said the renegotiation in a concluded international trade pact proves once again that Korea has been fully dragged by the U.S. over the past FTA talks since last June.
``If the renegotiation is inevitable, Korea should also actively demand something more,'' he said.
Current presidential aides for economic policies in Cheong Wa Dae are mostly those who studied in the U.S. and support an American-style economy model.
Even after the signing between the two presidents, the FTA should undergo each country's parliamentary ratification for effectuation.