According to Korean President Roh Moo-Hyun, South Korea’s Free Trade Agreement (FTA) talks with the EU could be launched next May without significant resistance from the South Korean public. This declaration follows violent protests that took place during the negotiations for an FTA with the US, which was concluded on 1 April 2007. Following the European Commission’s Communication “Global Europe, Competing in the World”, South Korea, Asia’s third largest economy, has emerged as a priority FTA partner for the EU. Last year’s bilateral trade amounted to US$ 71 billion.