The Korea Times | 22 October 2023
Korea, Arab nations to hold 8th round of FTA talks in Seoul
Korea and a group of Arab countries were set to launch a new round of negotiations for their free trade deal in Seoul on Monday, Seoul’s industry ministry said Sunday.
The eighth round of formal talks for a bilateral free trade agreement (FTA) between Korea and the Gulf Cooperation Council (GCC) will be held for a five-day run through Friday, according to the Ministry of Trade, Industry and Energy.
The GCC consists of six countries ― the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
The two sides are expected to discuss various issues, including goods and services trading, ways to improve trade conditions and trade remedies, the ministry said.
If sealed, a free trade deal with the Arab nations would help Korea expand its energy supply sources and strengthen trade ties with oil-rich nations, the ministry said. (Yonhap)