Inter-Korea
Rice Negotiations Seeing Progress
Written: 2004-10-21 00:00:00 / Updated: 0000-00-00 00:00:00
The government says it is witnessing progress in its negotiations with nine rice-producing countries on the wider opening of South Korea's rice market.
Seoul and Washington met for a sixth round of rice talks last Tuesday and reportedly have narrowed major differences. A government official says the two countries have tentatively agreed to gradually increase Seoul's rice import quota, currently set at four percent of domestic consumption, until 2013.
The official said Seoul also agreed to allow the retail sale of portions of rice imports from the United States for home cooking. Currently, all U.S. rice imports are being used for processed foods.
The two countries will meet for further negotiations to reach a final decision on the matter.
Seoul has held similar talks with China, Thailand, and Australia among others.
At the 1994 Uruguay Round of multilateral trade talks, South Korea was granted a ten-year grace period during which it was allowed to keep rice imports under four percent of domestic consumption.
According to agreements struck at those negotiations, South Korea must conclude talks on the wider opening of its rice market by the end of this year.
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