Agreement in 2015 with SK
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A free trade agreement between China and South Korea should be effective next year, China’s Ministry of Commerce said yesterday, ending negotiations that began in 2012.
Last week, both governments said they had “effectively” reached a free trade agreement that would remove or sharply reduce barriers of trade and investment between the two Asian countries.
“Our next step involves some technical issues and we will conduct some working consultations, striving to finish negotiations entirely within a year,” China’s Assistant Commerce Minister Wang Shouwen told reporters.
“Next year, in the first half of the year, we hope both sides will be able to formally sign an agreement,” he said.
The conclusion of the agreement should benefit similar talks with Japan, Wang said, and hopefully progress may be announced next year.
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