(MENAFN) South Korea and Turkey signed a free trade agreement in the investment and service sectors that will complement their bilateral trade pact that went into effect nearly two years ago, QNA reported.
"As the chapters in service and investment have been signed, the Korea-Turkey FTA that has been limited to products will become a comprehensive and high-level FTA," the Ministry of Trade, Industry and Energy said.
The countries implemented their bilateral FTA for products in May 2013 after they failed to narrow their differences in the service and investment sectors.
Negotiations for an FTA in those two sectors were concluded in July 2014 and once implemented, the agreement will mark Turkey's first-ever FTA in non-product sectors. The country has so far signed 17 FTAs that only deal with products, the ministry showed.
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