Many Member States were concerned of the consequences of liberalising EU trade with South Korea whereas the UK as well as Sweden wanted to conclude the agreement as soon as possible.
In July 2009, during a 133 Committee meeting, the EU Member States and the European Commission discussed the final compromise package. The compromise was not rejected but the EU Member States have not endorsed it yet. Several Member States asked for more time to analyse the agreement’s details. Italy, in particular, was concerned that the safeguard clause proposed by the Commission would not protect European car manufacturers.
The Commission has initialled the Free Trade Agreement with South Korea last October. The agreement still has to be formally endorsed by Council before being signed by the European Commission.
In the meantime the Lisbon Treaty entered into force and now the European Parliament must give its consent.
The Council was expecting to authorize, today, the signing of the agreement, however Italy has decided to block it. Adolfo Urso, Italian Trade Minister, has said "We have asked for changes, especially for the auto sector, but unfortunately our suggestions were not accepted." According to Steven Vanackere, Belgium's foreign minister, Italy is the only member state against the signing of the agreement. Mr Vanackere is hopping to reach an agreement next Monday so that the agreement can be sign by 6 October, at an EU-South Korea summit.
