SKorea, China to start initial free trade talks
Agence France-Presse | 22 October 2007
SKorea, China to start initial free trade talks
SEOUL (AFP) - South Korea and China will hold a third round of preliminary talks this week on a possible free trade agreement, the foreign ministry said Monday.
About 80 government officials and industry experts from the two nations will meet from Wednesday to Friday in the Chinese city of Weihai, the ministry said in a statement.
The two sides aim to identify difficult issues, it said.
China is South Korea’s biggest trading partner with two-way trade worth more than 130 billion dollars a year. This year marked the 15th anniversary of the establishment of diplomatic ties.
South Korea is actively seeking free trade pacts as part of efforts to make its economy more competitive.
It already has deals with Chile, Singapore and the European Free Trade Association. A pact with the United States has been signed and is awaiting legislative approval in both countries.
A free trade deal on merchandise came into force with the Association of Southeast Asian Nations, minus Thailand, in June and the two sides want a comprehensive deal by year-end.
Seoul is also seeking pacts with the European Union, Canada, India and Mexico.
