(MENAFN- Qatar News Agency) Oul june 02 (qna) - south korea and china have made some progress in their bilateral free trade agreement (fta) negotiations with both sides agreeing to speed up the talks the seoul-side ministry said monday.
at the 11th round of talks held in china last week the two countries exchanged a second list of items they seek to exclude from market liberalization according to the ministry of trade industry and energy.
south korea considers farm goods including fishery products to be most sensitive while china is seen as protecting its manufacturing industry according to south korea's (yonhap) news agency.
the countries have already agreed to eliminate import tariffs on 90 percent of all products they trade.
china's commerce ministry too has reported "positive progress" in the latest fta negotiations.
in the recent round the two countries also exchanged their initial requests for the scope of market opening in the service sector.
the most significant progress came from discussions on synchronizing the countries' trade regulations especially those on competition customs inspection and country of origin.
the countries agreed to further "accelerate their negotiations to settle remaining issues" he told a press briefing.
the next round will be held in july in south korea. the negotiations for the south korea-china fta began in may 2012. (qna)
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