Shortcut to Body Shortcut to main menu

Investment News

  • Home
  • About Us
  • Newsroom
  • Investment News
S. Korea, Sweden seek closer trade ties

According to Yonhap News,

South Korea's industry ministry said Thursday it plans to pursue a comprehensive agreement on trade and investment with Sweden, and seek closer economic ties in the energy and biotechnology sectors.

The two countries shared a consensus to seek a bilateral trade and investment promotion framework (TIPF) agreement during the joint industrial cooperation committee meeting held virtually, according to the Ministry of Trade, Industry and Energy.

A TIPF is a nonbinding agreement that calls for enhancing economic ties and facilitating cooperative exchanges in various areas.

During the meeting, South Korea and Sweden shared the latest policies regarding cutting-edge industries, including nuclear energy, biotechnology and the digital economy.

The envisioned bilateral TIPF will include various issues, including cooperation in the supply chain and the promotion of carbon-free energy.

"South Korea and Sweden, both powerhouses in the manufacturing industry, have consistently prioritized investments in innovative technology and research," the ministry said in a statement, expressing hope for deeper cooperation.

Source Text

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: Yonhap News (March 7, 2024)

Meta information