Korea and Britain begin third round of talks to enhance FTA

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Korea and Britain begin third round of talks to enhance FTA

Published: 11 Nov. 2024, 10:08

Officials from Korea and Britain host the first round of negotiations on upgrading their bilateral free trade agreement on Jan. 23. [YONHAP]

Korea and Britain kicked off the third round of negotiations Monday to upgrade their bilateral FTA in response to changing global trade and business circumstances, the trade ministry said.

The negotiations began in Seoul for a four-day session, with the two countries aiming to accelerate discussions in sectors such as services, supply chains, digital trade and biotechnology, according to the Ministry of Trade, Industry and Energy.

"Britain is our key partner and an economic ally in emerging sectors such as cutting-edge industries and energy," Kwon Hye-jin, Korea's chief negotiator, said in a statement.

The two countries signed the FTA in August 2019 and the pact took effect in January 2021, following Britain's departure from the European Union.

The first round of talks for the FTA revision took place in Seoul in January, followed by the second meeting in London in March.

Yonhap