ID :
105708
Wed, 02/10/2010 - 09:44
Auther :
Shortlink :
https://oananews.org//node/105708
The shortlink copeid
S. Korea, EU to sign free trade deal in April
SEOUL, Feb. 10 (Yonhap) -- South Korea and the European Union (EU) will sign a free trade deal in April and implement the accord before the end of the year, Seoul's trade ministry said Wednesday.
"Both sides agreed to sign the free trade accord in April, and reaffirmed that
the free trade agreement will take effect this year," the ministry said in a
statement.
The two sides initialed the free trade deal in September last year, three months
after concluding negotiations.
Overall, the trade pact is expected to boost bilateral trade between South Korea
and the EU by as much as 20 percent, according to estimates by the state-run
Korea Institute for International Economic Policy (KIEP).
The EU was South Korea's second-largest trading partner after China in 2008.
Two-way trade totaled US$98.4 billion with South Korea enjoying a surplus of
$18.4 billion.
The EU was the biggest foreign investor in South Korea in 2008 with its
accumulated investments totaling $44.82 billion.
sam@yna.co.kr
(END)
"Both sides agreed to sign the free trade accord in April, and reaffirmed that
the free trade agreement will take effect this year," the ministry said in a
statement.
The two sides initialed the free trade deal in September last year, three months
after concluding negotiations.
Overall, the trade pact is expected to boost bilateral trade between South Korea
and the EU by as much as 20 percent, according to estimates by the state-run
Korea Institute for International Economic Policy (KIEP).
The EU was South Korea's second-largest trading partner after China in 2008.
Two-way trade totaled US$98.4 billion with South Korea enjoying a surplus of
$18.4 billion.
The EU was the biggest foreign investor in South Korea in 2008 with its
accumulated investments totaling $44.82 billion.
sam@yna.co.kr
(END)
