South Korea and China to hold new round of trade talksStaff writer ▼ |
The ninth round of the negotiations will be held in Xi'an, capital of northwest China's Shaanxi Province, from Monday to Friday, according to the South Korean Ministry of Trade, Industry and Energy. The new round of talks will continue focusing on the level of liberalization for goods, further discussing the list of products involved in the liberalization, the ministry said.
The ministry added that separate working group talks will also be held with the topic of opening service and investment markets.
South Korea and China concluded the eighth round of talks of this kind, or the first for the second-stage negotiations, in November, in which the two sides began discussions for a rough draft of the trade agreement and on the level of liberalization for products, based on the agreed modality.
The two neighbors completed the first-stage negotiations in early September with a total of seven rounds of talks, agreeing on basic guidelines for the Sino-South Korean FTA.
China is South Korea's No. 1 trading partner, with Seoul's exports to Beijing accounting for a quarter of the total in 2012. Since the two neighbors established diplomatic ties in 1992, their annual trade has grown almost 50 times and reached 256 billion U.S. dollars in 2012. ■