SEOUL, Sept. 9 (Yonhap) - The South Korean government is reviewing overall adherence to the Agreement Trans-Pacific Strategic Economic Partnership (TPP, according to its acronym in English), led by the United States.
"In regard to entry into the TPP, the Government is reviewing the overall situation of the TPP negotiations, which could exert influence adherence to TPP negotiations of free trade agreements that are in process and the economic effects for participation in the TPP "said Monday the Ministry of Commerce, Industry and Energy. "The Government has not yet taken any decision regarding the TPP membership," he added.
"The ministries in charge of the economy are showing an active stance on the country's accession to the TPP, while some parts of the Government expressed a cautious stance about it," said an official of the Ministry of Strategy and Finance, adding that it would be difficult the Government take in a few months a final position on the accession to the TPP, considering that it would take considerable time to collect the information on it.
Last month, the Minister of Strategy and Finance, Oh Hyun-seok, appealed to all ministries to undertake preparations for joining the TPP.
South Korea already has a bilateral FTA with U.S. and is trying to sign a bilateral agreement with China. Also taking part in the ongoing negotiations for the so-called Regional Comprehensive Economic Partnership (RCEP), multilateral FTA for the East Asian region, which also includes China, Japan and the ten member countries of the Association of Southeast Asian Nations.
