Canada-South Korea Trade Deal Gives Both Countries a Global Boost

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By Len Edwards, The Globe and Mail Sep 23, 2014

Len Edwards is a former Canadian Ambassador to South Korea and Deputy Minister of Foreign Affairs. He currently co-chairs the non-governmental Canada-Korea Forum, and is a Distinguished Fellow at both the Centre for International Governance Innovation and the Asia Pacific Foundation of Canada.

The state visit to Canada by President Park Geun-hye on Sept. 20-22 inaugurates a major new chapter in Canada’s 50 year relationship with South Korea, headlined by the signature of the Canada-Korea free-trade agreement completed earlier this year.

While the CKFTA’s direct economic benefits will be significant, and properly celebrated by both governments, its indirect impact should not be overlooked, politically re-energizing interest and activity in other areas of relations and underpinning a stronger strategic partnership between two of the world’s important second-tier powers.

As always, however, these outcomes will depend on the effort that governments, businesses and others put into pursuing the opportunities and leveraging the positive mood and momentum that has been created.

A year ago, this cheery outcome was highly uncertain. Negotiations had effectively ground to a halt, caught up in the tough issues still to be resolved on both sides, and amid signs that South Korea had lost interest following earlier hesitations by Ottawa. But after some frank talk as regards the economic and broader consequences of failure, negotiations were resumed and concluded in relatively short order.

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