South Korea, Colombia Start 3rd Round Of Free Trade Talks
Bernama, Malaysia
South Korea, Colombia Start 3rd Round Of Free Trade Talks
14 June 2010
SEOUL, June 14 (Bernama) — South Korea and Colombia began Monday their third round of free trade negotiations in Seoul, Yonhap News Agency reported the trade ministry as saying.
The two countries will discuss a range of issues such as services and investment until Friday, the ministry said. Both sides held the first round in Seoul in December.
Their bilateral trade reached US$922 million in 2009, with South Korea’s exports to the South American country reaching US$797 million, according to the ministry.
South Korea’s main export items include cars and electronic goods, and it imports coffee and resources, such as coal and nickel, from Colombia.
The South American country has free trade pacts with the United States, Canada and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein.
South Korea also has free trade pacts with Chile, Singapore, the EFTA and the 10-nation Association of Southeast Asian Nations.
A free trade pact between Korea and the United States was signed in 2007, but still awaits ratification by the legislatures of both countries.
