S Korea-China-FTA
SEOUL, June 25 (Yonhap) — South Korea and China have initiated additional talks to extend their bilateral free trade agreement (FTA) to encompass services and investments, according to the country’s industry ministry on Wednesday.
On Monday, trade delegations commenced the twelfth round of subsequent negotiations for the Free Trade Agreement (FTA) in Seoul. Their objective is to broaden the scope of the agreement to encompass services, investments, and financial sectors, as stated by the Ministry of Trade, Industry, and Energy. These discussions are set to continue until Friday.
In this week's meeting, they plan to discuss expanding market access in the three areas as part of efforts to facilitate trade in services and promoting investment between the two countries.
In December 2015, Seoul and Beijing put into effect their bilateral Free Trade Agreement, eliminating significant tariffs on goods. By 2018, they had convened eleven additional sessions aimed at broadening the trade pact’s coverage to include investments and services.
nyway@yna.co.kr
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