Why was the U.S. able to complete a free trade deal with Seoul in only 14 months while Canada's negotiations with South Korea have languished since July 2005?
Sure the U.S. trade market is ten times the size of Canada's. But that's hardly reason for Canada to play second fiddle and wait for America to first establish free trade relationships with the rest of the world.
After all, South Korea is also much smaller than its American, Chinese and Japanese trade partners but makes the most of what it brings to the trade table. The Korean Free Trade Agreement with the U.S. proves that South Korea is willing to work with its trade partners.
As reported in the Globe and Mail's April 3, 2007 article S. Korea-U.S. deal paves way for Canada, Canada's International Trade Minister David Emerson wants to protect the interests of Canadian auto makers, shipbuilders and beef exporters as Prime Minister Harper strives for a majority government. Mr. Emerson has yet to define a target date for a final free trade agreement with South Korea, instead waiting until his political party's future is secure before inking any such deal.
Face it. South Korea is Canada's seventh-largest export partner representing over US$2.8 billion worth of exports. Rather than playing politics, Canada's Trade Minister should focus on negotiating a free trade deal that will eliminate tariffs of 5% or more that South Korea imposes on 80% of its industrial imports.
A clear sense of purpose and resolve enabled the U.S. to structure a free trade deal with South Korea that will increase American exports to Seoul by 20%.
So, Canada, get with the free trade program!
