Invest KOREA

According to Yonhap News,

South Korea and Britain kicked off the third round of negotiations Monday to upgrade their bilateral free trade agreement (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, South 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.


colin@yna.co.kr

Source Text

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

Source: Yonhap News (November 11, 2024)