SKorea, EU launch free trade talks

South Korea and the European Union on Sunday declared the formal launch of free trade talks to combine Asia's third largest economy and the world's largest trading bloc.

SKorea, EU launch free trade talks
South Korea and the European Union on Sunday declared the formal launch of free trade talks to combine Asia's third largest economy and the world's largest trading bloc.

The first round of talks opens in Seoul on Monday, EU Trade Commissioner Peter Mandelson and South Korean Minister of State Kim Hyun-Chong said in a joint news conference.

The negotiations, if concluded, would create a bilateral free trade area where two-way trade reached almost 80 billion dollars last year.

The 27-member EU remains the biggest foreign investor in South Korea, investing 4.97 billion dollars last year alone, according to Seoul's foreign ministry.

The EU was South Korea's second largest trading partner after China last year, with trade reaching 78.56 billion dollars, according to the ministry.

Last Mod: 06 Mayıs 2007, 13:16
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