Labor welcomes progress in negotiations for a Free Trade Agreement with the Republic of Korea announced today.
Negotiations on a bilateral agreement were initiated by Labor in 2009.
The Republic of Korea is Australias third-largest export market and a Free Trade Agreement presents significant opportunities for Australian exporters and workers.
It also presents potential challenges for the motor vehicle, automotive parts, steel and textile, clothing and footwear industries.
A particular matter of concern for Labor is the impact of any proposed investor state dispute settlement mechanism.
In the interests of transparency Labor has urged the Government to release the text of the proposed agreement with the Republic of Korea at the earliest opportunity.
Labor looks forward to examining the proposed agreement and will assess it carefully to ensure it is in the national interest.