Thursday, May 15, 2008

South Korea and the European Union- Continued

Following my post the other day on the EU and South Korea's trade agreement, there apparently was progress made in Brussels. While there were still issues being talked about, there were committments on both sides to make sure things were "sped up" to make sure agreements were signed.
The reason why this is important is because the EU trades a lot with China and South Korea, and hopes to reach agreements similar to those made by the US with these states. This would greatly help both sides, as more freedom in trade would make it easier for South Korean companies to gain a stronger foothold in Europe, the largest market available. Considering bilateral trade last year alone amounted to close to $90 billion, everyone would gain from this.

No comments: