(MENAFN- Qatar News Agency) South Korea and China will hold a new round of negotiations for a bilateral free trade agreement (FTA) next week, South Korean trade ministry said Friday. "At the upcoming round of negotiations, the two countries will again continue their discussions in working groups that each deal with products, services, investment, regulations and cooperation," the ministry said in a press release
A major breakthrough came in the seventh round of negotiations held in Beijing in September, in which the countries agreed on basic guidelines for the proposed FTA, including the level of their market opening for products. They have since been working to map out a detailed list of products to be liberalized under the FTA, but with little or no visible progress
South Korea's Trade Minister Yoon Sang-jick said, however, that the talks were moving forward. Yoon and other government officials have said the country is giving top priority to the Korea-China FTA, which may provide a starting point for all other FTA negotiations South Korea is engaged in. South Korea is currently in negotiations for eight new bilateral and multilateral FTAs, including a three-way free trade pact involving China and Japan.
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