EU expected to give green light to South Korea free trade deal at summitBy AP
Thursday, September 16, 2010
EU expected to clear SKorea free trade deal
BRUSSELS — The European Union’s presidency says the 27-nation bloc is expected to agree to a free trade deal with South Korea after overcoming objections from Italy, which feared the pact would its ailing auto industry.
Belgian Prime Minister Yves Leterme, whose country holds the EU’s rotating presidency, says the deal will likely be agreed at a meeting of EU foreign ministers on the sidelines of a leaders’ summit in Brussels.
Walking into the meeting Thursday, Leterme said the free trade pact would be “important and positive news for our economy.”
The deal that would wipe out billions of dollars in industrial and agricultural duties between South Korea and the EU was initialed a year ago but has since been held up by Rome.
Tags: Asia, Belgium, Brussels, East Asia, Europe, International Agreements, International Trade, North America, South Korea, Summits, United States, Western Europe