Korea, Peru to have FTA negotiations in March
Ministry of Foreign Affairs and Trade | 23 Jauary 2009
Korea, Peru to have FTA negotiations in March
By James Ro
Korea and Peru agreed to hold the first round of FTA negotiations in March, the Ministry of Foreign Affairs and Trade said Thursday (Jan. 22).
The agreement was drawn up at preparatory talks for a Korea-Peru FTA held in Lima from Jan. 20 to 21.
The two sides will exchange a draft of the written agreement before the March talks in Seoul and delve into the opening of each market from the second round of negotiations, said the ministry.
"At the preliminary talks, the two sides agreed upon the scale, formation, process and schedule of the Korea-Peru FTA, and together laid the groundwork for effective negotiations in the future," the ministry said of the results of this week’s talks, which were attended by Korean officials from finance, agriculture and knowledge economy ministries and their Peruvian counterparts.
The bilateral FTA will help secure a bridgehead in Latin American countries and expand cooperation on resources and investment between Korea and Peru, the ministry predicted.
