Yoon and Starmer agree to accelerate FTA talks with focus on digital trade and biotech

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Yoon and Starmer agree to accelerate FTA talks with focus on digital trade and biotech

Published: 20 Nov. 2024, 10:52

President Yoon Suk Yeol, right, and British Prime Minister Keir Starmer pose for a photo during their meeting held on the sidelines of the North Atlantic Treaty Organization summit held in Washington, D.C., on July 12, 2024. [POOL/YONHAP]

President Yoon Suk Yeol and British Prime Minister Keir Starmer agreed Tuesday to accelerate negotiations to upgrade a bilateral FTA with an aim to boost cooperation in services, supply chains, digital trade, biotechnology and other sectors, Yoon's office said.

Yoon and Starmer met in Brazil on the sidelines of the Group of 20 summit in Rio de Janeiro. It marked their second in-person meeting since their talks in Washington in July.

The first round of negotiations for the FTA revision began in January as they looked to deepen trade ties. The current FTA came into effect in January 2021 after Britain's departure from the European Union.

During the summit, Yoon and Starmer also discussed security concerns on the Korean Peninsula and increasing military cooperation between Russia and North Korea.

"They recognized their joint efforts to deliver a unified and strong condemnation on the security issues and pledged continued close cooperation for coordinated responses," Yoon's office said in a release.

The two leaders acknowledged the interconnected security challenges in Northeast Asia and Europe and agreed to collaborate on peace and reconstruction efforts in Ukraine, the release said.

Yonhap