Press conference by Catherine Ashton on the EU/South Korea Free Trade Agreement
At a press conference on 15/10/2009 in Brussels, following the initialling of EU-South Korea Free Trade Agreement (FTA), Catherine Ashton, Member of the EC in charge of Trade, welcomed what she described as a first of a new generation of free trade agreements (FTA), with countries having traditionally high barriers to trade and potentially high growth.
Asked about the concerns of the European industry, in particular car manufacturers, she told journalists that safeguard measures have been negotiated with the Koreans. So that, in case of a surge of car imports from Korea into Europe, the EU would be able to re-impose tariffs.
She added that the safeguards will address the concerns that the car industry rightly has.