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Latin America Investment News on Viva Tropical

South Korea Seeks Powerhouse FTA Central America Block

Article Summary:

The government of South Korea seeks to be a powerhouse player in Central America by attempting to negotiate a free trade agreement with the entire region as one market.

Photo Credit: Prensa Nicaragua

Original Article Text From Prensa Nicaragua via Google Translate :

CA wants FTA with Korea

In the coming months the governments of Central and South Korea begin formal negotiations with a view to signing a Free Trade Agreement (NAFTA).

According to the South Korean ambassador in Nicaragua, Soon Tae Kim, there is his country’s interest to enhance trade relations with the region, but as one market. “My government is currently studying with Central American countries in this regard (the feasibility of the FTA). It finished a feasibility study last year and will start in the near future negotiations to sign this agreement, “he said.

The diplomat expressed confidence that negotiations do not extend to the FTA “will be signed as soon as possible.”

Point the ambassador that the benefits for Central America are in advantage that South Korea is an economic power and has trade agreements with the European Union, the United States, other Asian and Latin American countries like Chile and Peru, and in July signed the FTA with Colombia .

Orlando Solorzano, Minister of Commerce, identifies that the FTA with South Korea seeks more than just growing the business. “Korea has production capacity, capital and technology and we have land, agricultural potential, food processing and possess both strategic positions in each of our regions. We take that to together produce goods that can be distributed not only in Korea and Central America, but internationally, “he said.

Link to Original Article:

From La Prensa Nicaragua

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