Korean vernaculars have reported that Canada and Korea will resume free trade talks. Canadian Prime Minister Stephen Harper and Korean President Myung-bak LEE reached an agreement during a private meeting during the G-20 meetings in Los Cabos, Mexico.
Canada called off negotiations with Korea, because of the ban by Korea on the import of Canadian beef. The ban has recently been lifted. Trade between Canada and Korea amounted to nearly USD 12 billion last years.
Sean Hayes, IPG’s Co-Chair of the Korea Practice Team, may be contacted at: SeanHayes@ipglegal.com
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