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7.3.3 Preparations for the SEOM – METI 211 Consultations, 24 August 2005, Bangkok, Thailand
90. The Meeting, reiterating its previous decision that matters pertaining to the AJCEP
shall not be discussed at the SEOM-METI Consultations, endorsed the provisional agenda doe the SEOM-METI 211 Consultations subject to the deletion of agenda item 4.2. The
revised provisional agenda for the SEOM-METI Consultations appears as ANNEX 39.
7.4 ASEAN – Korea
7.4.1 ASEAN – Korea Free Trade Area AKFTA
91. Singapore, the ASEAN Co-chair of the ASEAN-Korea Trade Negotiating Committee
AKTNC, briefed the Meeting on the status of the negotiations for the AKFTA. The ASEAN Secretariat paper containing the highlights and the Report of the 4
th
AKTNC meeting, held in
Bangkok on 19-20 July 2005 appears as ANNEX 40. 92.
In updating the Meeting on the AKFTA negotiations, Singapore highlighted that while Korea is pushing for the finalisation of the TIG Agreement at the same time as the
Framework Agreement as Korea has indicated that she would not be able to submit the Framework to her Parliament without the TIG Agreement, this may not just be possible
because of some outstanding issues on the modality, which include:
a The proposal of Korea to complete tariff elimination on 90 of all tariff lines
to be consistent with the “substantially all trade” condition of the WTO by 2010. ASEAN Member Countries have differing views on this time line, e.g.
2011, 2012 or even 2016 in the case of the Philippines.
b Whether the 10 threshold for the Sensitive Track would be based on tariff
lines or trade value or both. c
The suggestion of Korea to put products subject to TRQs and products to be excluded from trade liberalisation in the Highly Sensitive List.
d The request of CLMV for more flexibility, e.g. longer timeframe and later
starting date instead of 80 in 2009, 70 in 2014 or 2016. 93.
Given these outstanding issues, should Korea insist that negotiations for the TIG Agreement are completed by the end of the year, the view of the Meeting is that ASEAN
could strategically push Korea to accept more of ASEAN’s terms. 94.
The Meeting noted that the next AKTNC meeting is scheduled in Seoul on 5-9 September 2005. The Meeting urged all parties to endeavour to resolve the outstanding
issues so that targets are achieved as scheduled. The Meeting expressed its appreciation to the Indonesian government for lending the premises of her Embassy in Seoul for the venue
of the ASEAN Caucus for the 5
th
AKTNC meeting.
7.4.2 Preparations for the 4
th
SEOM – ROK Consultations, 25 August 2005, Bangkok, Thailand
95. The Meeting endorsed the provisional agenda for the 4
th
SEOM–ROK Consultations,
which appears as ANNEX 41.
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7.5 ASEAN + 3
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