S. Korea pushes to strike FTAs with China, Vietnam, New Zealand this year
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Korea Herald, Seoul
S. Korea pushes to strike FTAs with China, Vietnam, New Zealand this year
16 October 2014
(Yonhap) South Korea said Thursday it will push to conclude free trade agreements (FTA) with China, Vietnam and New Zealand before the year’s end.
Negotiations for a free trade pact have been underway with each country as South Korea seeks to expand its presence overseas.
"In becoming one of the world’s top 10 trading nations, the driving force behind our economy was exports," Prime Minister Chung Hong-won said as he presided over a government policy meeting.
"In order to maintain the solid stability of our economy, it is time to strengthen trade cooperation that widens the horizon of our economic territory."
Free trade talks with China have made progress in recent months, but differences remain over the terms for industrial goods and agricultural and fishery products.
Negotiations with Vietnam are also underway, with the two countries’ leaders reaffirming their commitment to concluding the deal within 2014 during summit talks in Seoul earlier this month.
Meanwhile, South Korea and New Zealand began their ninth round of free trade talks in Seoul on Wednesday.
