Seoul and Beijing restart talks to expand FTA into services and investment

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Seoul and Beijing restart talks to expand FTA into services and investment

Industry Minister Ahn Duk-geun speaks during an event in Seoul on Jan. 14. [MINISTRY OF TRADE, INDUSTRY AND ENERGY]

Industry Minister Ahn Duk-geun speaks during an event in Seoul on Jan. 14. [MINISTRY OF TRADE, INDUSTRY AND ENERGY]

 
Seoul and Beijing have resumed their negotiations to expand their existing FTA to include the service and investment sectors, the Ministry of Trade, Industry and Energy said Thursday.
 
The talks, the 10th of their kind, began Wednesday in Seoul for a three-day run, according to the Trade Ministry.
 

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Seoul and Beijing implemented their bilateral FTA in December 2015, removing major tariffs on products. They had held nine follow-up meetings covering investment and service areas between 2018 and 2020.
 
"Amid the weakening multilateral trade system, the importance of bilateral FTAs has been under the spotlight," said Kwon Hye-jin, Korea's chief negotiator. "The government aims to hold regular follow-up talks with China to maintain the momentum in the negotiation."
 
 

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