After the fresh round of free trade talks, US has termed offer of opening agricultural sector by South Korea as a drop in the ocean.
Wendy Cutler, chief US negotiator said that talks were on right track and differences in sectors like farm goods, textile and pharmaceuticals were closing in. On the other hand, Kim Jong-hoon, South Korea s chief negotiator said that both sides were still divided on issues of agriculture and textile market.
Cutler, while comparing offers from both sides said that opening of additional $88 million market to US farm goods by South Korea is a meager amount compared to US offer of opening $2.9 billion market in textiles and industrial goods.
Negotiators are looking to end the negotiations by March end next year as fast track authority to sign trade deals ends in July and three months is required for the ratification of deal.
Being world s 10th largest economy, South Korea is also the seventh biggest US trading partner and the two way trade with US was worth $72 billion last year.
Wendy Cutler, chief US negotiator said that talks were on right track and differences in sectors like farm goods, textile and pharmaceuticals were closing in. On the other hand, Kim Jong-hoon, South Korea s chief negotiator said that both sides were still divided on issues of agriculture and textile market.
Cutler, while comparing offers from both sides said that opening of additional $88 million market to US farm goods by South Korea is a meager amount compared to US offer of opening $2.9 billion market in textiles and industrial goods.
Negotiators are looking to end the negotiations by March end next year as fast track authority to sign trade deals ends in July and three months is required for the ratification of deal.
Being world s 10th largest economy, South Korea is also the seventh biggest US trading partner and the two way trade with US was worth $72 billion last year.
