S. Korea, Peru to hold free trade talks next week

SEOUL, June 24 (Yonhap) -- South Korea and Peru will hold their third round of
free trade talks in Seoul next week, officials here said Wednesday.

South Korean President Lee Myung-bak and Peruvian President Alan Garcia agreed to
launch free trade negotiations last November. During previous negotiations, held
in March and May, the two countries have hammered out details on government
procurement and worked through major disputes.
Bilateral trade reached US$1.62 billion in 2008, with South Korea's exports to
the South American country reaching $720 million, according to the officials.
In April 2003, South Korea signed a free trade agreement with Chile, Seoul's
first free trade partner. South Korea is also seeking to forge a free trade deal
with Mexico.
South Korea currently has free trade pacts with Singapore and the European Free
Trade Association (EFTA), comprising Switzerland, Norway, Ireland and
Liechtenstein.
A free trade pact between Korea and the United States was signed in 2007 but
still awaits ratification in the legislatures of both countries.
South Korea also has a free trade agreement with the Association of Southeast
Asian Nations that covers manufactured goods and agricultural products. The
country is also negotiating with the European Union and Canada for free trade
pacts.
sam@yna.co.kr
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