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Analysts say U.S,[url=http://www.govtvault.com/]gucci outelt store[/url].-European Union trade pact could hurt S. Korea
SEOUL, Feb. 15 () -- South Korean exports could take a hit if the United States and the European Union conclude a free-trade agreement, South Korean analysts said Friday.The United States and the EU, which together account for about half of the world's gross domestic product, have said they plan to conclude a trade agreement in two years,[url=http://www.myeduhelp.com/]christian louboutin men[/url], U.S. President Barack Obama said in his State of the Union address Tuesday.That arrangement could result in South Korean exporters losing their foothold in the global market,[url=http://www.govtvault.com/]gucci outlet online[/url], the Yonhap News Agency reported, quoting the analysts."South Korea stands to benefit from a situation where there are trade barriers between the U.S. and the EU," said analyst Lim Noh-joong at the I'M Investment & Securities Co. "We may lose advantages in the two markets should they sign an FTA."South Korea already has free-trade agreements with the United States and European Union that were completed in the past two years. The country now has a total of eight trade arrangements.Lim said South Korean automakers, which compete strongly with European firms, could lose market share under a U.S.-EU agreement, Yonhap said.Kim Hyung-joo, a researcher at the LG Economic Research Institute, agreed. He said such a deal could also hurt China,[url=http://www.myeduhelp.com/]christian louboutin outlet[/url], which is South Korea's largest trading partner."South Korea may no longer benefit from preferential tariffs," South Korean Ministry of Foreign Affairs and Trade official Park Jong-han told Yonhap. "Local exporters must utilize South Korea's free-trade pact with the two regions to beef up their competitiveness."