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S KOREAN GOVT TO HELP FARMERS COPE WITH U.S. FTA: AGRI MINISTER.
SEOUL, Sept 3 Asia Pulse - The government will faithfully take steps to help farmers cope with challenges that might result from a free trade pact with the United States, South Korea's new agriculture minister said Friday.
In an inaugural speech, Im Sang-gyu said Seoul's aim is to provide comprehensive support for losses incurred once the free trade agreement goes into effect.
Reports have forecast that farmers could face losses in production reaching 1 trillion won (US$1.06 billion) in the long run if cheap American agricultural products hit the local market.
Seoul and Washington signed an FTA on June 30, which now awaits ratification by lawmakers from both countries.
Im also said efforts will be made to raise the competitiveness of locally grown produce and processed foods to help revive confidence in the farming community.
"Market liberalization is a global trend that cannot be avoided," the minister said, adding that in order to compete, local farmers must produce high-quality goods that will be well-received by consumers and take advantage of export opportunities.
The remarks come as ...
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Source: HighBeam Research, S KOREAN GOVT TO HELP FARMERS COPE WITH U.S. FTA: AGRI MINISTER.