UK Government

Department for Business, Innovation and Skills: Business Secretary welcomes Free Trade Agreement signature

Press Release   •   Sep 17, 2010 10:39 BST

Business Secretary Vince Cable today welcomed the signature of the EU-South Korea Free Trade Agreement (FTA) in Brussels.

Commenting on the signature of the FTA, Vince Cable said:

“The signing of the FTA at the European Council today is certainly going to boost the already significant trade relationship between the EU and South Korea. With the FTA estimated to be worth £500 million per year to the UK, the value of this deal to both nations is immense.”

Minister for Trade Policy, Edward Davey said:

"The UK has worked hard to conclude this ambitious agreement and the outcome today has seen the EU take significant steps in expanding our trade relationship with South Korea. This deal with bring real benefits and I am pushing with colleagues across the EU for further such trade deals as soon as possible".

Notes to editors:

1. The Government will be publishing a Trade White Paper at the turn of the year that will help develop an overarching trade and investment strategy. BIS will work with other government departments to ensure that trade policy, trade and development, trade promotion, export credit guarantees and other trade-related activities are reflected. It will act as a catalyst in reshaping the economy and supporting growth.

2. BIS' online newsroom contains the latest press notices, speeches, as well as video and images for download. It also features an up to date list of BIS press office contacts. See http://www.bis.gov.uk/newsroom for more information.

Contacts

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