Don't Rush Signing of South Korea Free Trade Agreement: House Committee

Don't Rush Signing of South Korea Free Trade Agreement: House Committee
(Embassy – Jeff Davis and Lee Berthiaume)

South Korean and Canadian trade negotiators are in Ottawa this week for the first time since the Asian nation elected a new president to try to hammer out a free trade agreement that has so far proven as controversial as it is elusive.

But though this will represent the 13th round of talks since negotiations started in 2004, the Standing Committee on International Trade warned the government against approving a "hastily-negotiated deal...simply for the sake of concluding an agreement" in a report tabled two weeks ago.

In fact, the report states, a trade agreement with Korea at this point in time could batter Canadian exports at a time when the economy is already hurting due to the high Canadian dollar, and given significant job losses in the forestry and manufacturing sectors in recent months.

The report adopts a decidedly defensive position, recommending a number of provisions be included into the deal to protect Canadian interests. …