Wednesday, May 4, 2011

South Korea supports the commercial agreement of EU

the Convention has been ratified despite protests from the main opposition Korea in the South of the party Parliament ratified a free trade agreement with the European Union, the last hurdle for the Pact to come into force in July of compensation.

The Pact is expected to boost the value of trade in goods between the Korea of the South and the EU about billion euros (£ 84bn).


This agreement will remove most tariffs and barriers to trade over the next five years.


Korea of the South has also signed a Pact to free trade with the United States.


The Grand National Party (GNP) decision was pushed through the agreement of free trade with the democratic opposition will boycott the vote.


"We expect the agreement to create 250 000 jobs, which is the largest form of welfare for workers and contribute enormously to their life improving revenue potential and price stabilization," said the spokesman of National Party great Bae Eun - hee.


The boycott of the Democratic Party was a dispute on the measures of protection for farmers and small businesses.


The European Parliament has ratified the Pact of free trade in February.

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