Thursday, November 21, 2013

S. Korea trade talks resume

Five years after they were suspended after Bovine Spongiform Encephalopathy (BSE or mad cow’s disease) was identified as the cause of the death of an Alberta cow, trade talks have resumed with South Korea.

The talks collapsed in the wake of that BSE alarm, dashing high hopes that Canadian hog and beef farmers could substantially increase exports to South Korea.

Now the talks are set to resume Nov. 25 to 29 in Seoul, South Korea.

Korea wants duty-free access to the Canadian market for its Kia and Hyundai cars, but Canada’s auto industry is objecting, saying that would not be fair because Korea maintains auto-industry restrictions.

Canada was put at a disadvantage when South Korea went on to negotiate a trade agreement with the United States.