The 2015 Seoul Conference on Trade & Industry aims to expand deliberations on the rise of mega free trade agreements around the world and their impact on the global economy, the government said Tuesday.
The forum held in the South Korean capital and hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association is focused on emerging paradigms in the global trading systems such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership and the Transatlantic Trade and Investment Partnership.
"SCTI will provide an excellent opportunity for local and foreign trade and industry professionals to examine major trade issues surrounding South Korea and other parts of the world from an objective and balanced perspective through insightful presentations and active discussion," the ministry said.
Minister of Trade, Industry and Energy Yoon Sang-jick stressed at the gathering that South Korea will continue its support for regional economic integration and global trade liberalization as it has been spearheading such global efforts by concluding 15 FTAs with 52 countries and regions, including the U.S., the European Union and China.
South Korea, the world's sixth largest exporter, did not take part in the 12-nation TPP pact reached in early October, although it is actively examining details of the agreement reached before making a decision to join, the U.S.-led initiative. Asia's fourth largest economy is engaged in the RCEP talks being led by China.
The ministry, meanwhile, said that the SCTI under the theme of "A New Paradigm for the World Trading System," is being attended by some 400 people including global trade experts, diplomats and foreign business leaders. It said World Trade Organization's Deputy Director-General Yonov Frederick Agah, Assistant United States Trade Representative Bruce Hirsh, Ambassador of the European Delegation to Korea Gerhard Sabathil and American Chamber of Commerce in Korea President Amy Jackson are taking part in the discussions. (Yonhap)
