S. Korea, China try to finish FTA talks
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CHINA and South Korea are set to hold the 14th round of talks for the bilateral free trade agreement this week to discuss and conclude the remaining issues, Seoul’s trade ministry said yesterday.
The supposedly last round of negotiations will be held on Thursday in Beijing, where South Korean trade minister Yoon Sang-jick and Chinese Minister of Commerce Gao Hucheng will meet and intensively discuss the remaining issues, said the Ministry of Trade, Industry and Energy.
The two countries had already completed negotiations on eight of the total 22 chapters, including trade remedy, sanitary and phytosanitary, technical barriers to trade, competition, environment and e-commerce.
Another eight chapters, which the two sides came close to an agreement, included customs clearance, investment, transparency, communications, rules and intellectual property rights.
Goods liberalization, the core part of the FTA negotiations, was involved in the remaining six issues that the two trade ministers will discuss this week to reach the FTA deal. The issues also included liberalizing service markets, non-tariff barriers, rules of origin, finance and economic cooperation.
Negotiations for the bilateral trade pact accelerated with Chinese President Xi Jinping’s visit to Seoul and talks with South Korean President Park Geun-hye in July, when they agreed to try to end the discussions within this year.
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