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South Korea, China eye FTA
April 29, 2013, 10:08 am

[Getty Images]

The next meeting will be held in South Korea [Getty Images]

South Korea and China reaffirmed their push for the bilateral free trade deal in the fifth round of talks held in China last week, the South Korean trade ministry said Monday.

“Both sides reaffirmed each other’s will to push for the free trade agreement (FTA) in the negotiation that was held for the first time since new governments of both nations had been launched, ” the ministry of trade, industry and energy (MOTIE) said in a statement.

Seoul and Beijing held the fifth round of talks over the Sino-ROK free trade deal for three days through Sunday in northeast China’s city of Harbin.

The next meeting planned to be held in South Korea, with no detailed time schedule decided.

China is South Korea’s largest trading partner.

The South Korean government delegation exchanged views with their Chinese counterparts over the level of the goods-sector liberalisation, while discussing the non-tariff barriers.

The working-level talks were held over the negotiation guideline of the service sector, investment, rules of origins, customs clearance, trade remedy, intellectual property rights, government procurement, technical barriers to trade (TBT) and sanitary and phytosanitary (SPS) measures.

Trade between the two countries has increased approximately 35 times, from $6.37 billion in 1992 to $220.63 billion in 2011.

With inputs from Xinhua