Australia-Korea Free Trade Agreement (FTA) Negotiations
First Round of Negotiations
On 18 May 2009, Minister for Trade, Mr Simon Crean, and Minister for Trade of the Republic of Korea, Mr Kim Jong-hoon, opened the first round of negotiations of the Australia-Korea Free Trade Agreement in Melbourne. Officials then held four days of negotiations in Canberra.
More information:
- Media release: Free Trade Negotiations with South Korea Underway, Minister for Trade, Mr Simon Crean, 18 May 2009
- Overview of developments that occurred at the first round of negotiations - Newsletter, 3 June 2009.
Launch of FTA Negotiations
On 5 March 2009, Prime Minister Kevin Rudd and the President of the Republic of Korea (ROK), Lee Myung-bak, agreed to launch bilateral FTA negotiations.
On 10 March, Mr Simon Crean, Minister for Trade, made a Ministerial Statement to the Parliament on the launch of FTA negotiations with Korea. Mr Crean also tabled a document summarising the views heard from the Australian public as part of the ongoing consultations process.
More information:
- Media Release: Australia and Korea launch FTA negotiations, Minister for Trade, Simon Crean, 5 March 2009.
Public Submissions
The Department of Foreign Affairs and Trade (DFAT) welcomes submissions from individuals and groups on the expected economic, regional, social, cultural, regulatory and environmental impacts of an FTA with Korea. Submissions need not be lengthy, and may build on or refer to submissions made during the joint non-government feasibility study on a bilateral FTA.
Submissions will be made publicly available on the DFAT website unless the author specifies otherwise.
Those intending to submit are encouraged to do so either by:
e-mail: KoreaFTA@dfat.gov.au
Fax: +61 2 6261 2187
Korea FTA Task
Force
Department of Foreign Affairs and Trade
RG Casey Building
John
McEwen Crescent
Barton ACT 0221
Bilateral Commercial Relationship
The Republic of Korea is Australia's fourth-largest export market (goods and services exports of $16.1bn in 2007-08) and sixth-largest overall trading partner (total two-way trade of $22.8bn in 2007-08). Resource commodities (energy and mineral products), plus simply-transformed metals such as aluminium and copper, accounted for around two-thirds of Australian merchandise exports to Korea. The largest export items in 2007-08 were crude petroleum ($2.4bn), coal ($2.4bn), iron ore ($2.1bn), beef ($763m) and aluminium ($710m). Tourism and education exports have also increased strongly in recent years. Passenger motor vehicles and telecommunications equipment are Australia’s largest import items from Korea.
Other relevant links:
Contact Us
If you have a specific inquiry on any of these issues, please contact DFAT's Korea FTA Task Force:
e-mail: KoreaFTA@dfat.gov.au
Fax: +61 2 6261 2187
Korea FTA Task Force
Department of Foreign Affairs & Trade
RG Casey Building
John McEwen Crescent
Barton ACT 0221
For media enquiries, please call DFAT's Media Liaison Section: +61 2 6261 1555