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Business Secretary welcomes Free Trade Agreement signature

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BIS Department for Business Innovation and Skills - Expert Author

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Issued on 16 September 2010 - BIS

Business Secretary Vince Cable today welcomed the signature of the EU-South Korea Free Trade Agreement (FTA) in Brussels.

Commenting on the signature of the FTA, Vince Cable said:

“The signing of the FTA at the European Council today is certainly going to boost the already significant trade relationship between the EU and South Korea. With the FTA estimated to be worth £500 million per year to the UK, the value of this deal to both nations is immense.”

Minister for Trade Policy, Edward Davey said:

"The UK has worked hard to conclude this ambitious agreement and the outcome today has seen the EU take significant steps in expanding our trade relationship with South Korea. This deal with bring real benefits and I am pushing with colleagues across the EU for further such trade deals as soon as possible".

Notes

1. The Government will be publishing a Trade White Paper at the turn of the year that will help develop an overarching trade and investment strategy. BIS will work with other government departments to ensure that trade policy, trade and development, trade promotion, export credit guarantees and other trade-related activities are reflected. It will act as a catalyst in reshaping the economy and supporting growth.


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Article Published/Sorted/Amended on Scopulus 2010-09-17 18:06:00 in Business Articles

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