Trade representatives from the European Union and South Korea are holding a two-day meeting to discuss in depth the issues holding up the completion of a free trade agreement.
The crucial meeting, which is being held in the Korean capital, Seoul, between EU Trade Minister Catherine Ashton and South Korea's Trade Minister Kim Jong-hoon will focus on several key areas of contention, with particular attention paid to rules of origin and the auto trade.
FTA discussions between the two sides began in May of 2007, although progress has recently stalled despite several rounds of negotiations. Disagreement over tariffs charged by Korea on EU auto imports are thought to be one of the main sticking points.
At present, the EU is second only to China in terms of trade with South Korea, and is the country's largest foreign investor.
Korea currently holds FTAs with Chile, Singapore and the Association of Southeast Asian Nations, and further FTAs have been sought with several other major exporting countries.
No concrete date has been given for the conclusion of the EU-Korea FTA, although it is understood that both parties are keen to seal the deal as soon as is feasibly possible.
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