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April 01, 2007 Sunday Rabi-ul-Awwal 12, 1428





S. Korea, US extend trade talks deadline


SEOUL, March 31: US and South Korean negotiators on Saturday extended the deadline in their free trade talks until the end of the weekend in a last-ditch attempt to secure a deal after 10 months of tough bargaining.

The new deadline will expire at 1am on Monday, they told a press briefing after a marathon 22-hour negotiating session.

“We have decided to have another 48 hours of talks by extending the original 1 am Saturday deadline,” said top South Korean negotiator Kim Jong-Hoon.

The US Trade Representative's office said the new deadline would still allow any agreement to be reviewed by Congress while President George W. Bush retains his Trade Promotion Authority to “fast-track” deals.

“Negotiations continue between the US and the Republic of Korea on a number of outstanding issues,” the office said in a statement.

“The negotiations must conclude by 12pm (Washington time) on Sunday April 1 so that the administration can decide whether to notify Congress of its intent to sign by Sunday, April 1, the deadline for Congressional notification under Trade Promotion Authority.”—AFP






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