S. Korea, Central America to begin 7th round of FTA negotiations

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The Korean Trade Ministry plans to focus on the market opening for South Korea’s main export items such as automobiles

KBS | 24 October 2016

S. Korea, Central America to begin 7th round of FTA negotiations

South Korea will kick off another round of free trade negotiations with six Central American countries in Seoul on Monday.

The Ministry of Trade, Industry and Energy said the seventh round of free trade agreement(FTA) talks between South Korea and the six countries will be held until next Monday.

Declaring the launch of free trade talks in June 2015, South Korea held six rounds of talks through September with El Salvador, Honduras, Nicaragua, Panama, Guatemala and Costa Rica. South Korea’s trade volume with the six countries reach some four to five billion dollars annually.

The two sides are expected to discuss rules of origin, services and investment and intellectual property rights. The Trade Ministry plans to focus on the market opening for South Korea’s main export items such as automobiles, machinery and steel as well as the government procurement market.

The ministry’s Director-General for FTA Policy Yeo Han-koo said South Korea will improve its trade and investment environment in the region by forming FTAs with Central American countries with high growth potentials.

source: KBS