(VOVworld)- South Korea and China will conduct another round of talks on the Free Trade Agreement (FTA) next week.
The Korean Ministry of Trade, Industry and Energy said that the 9th round of FTA negotiations will take place January 6-10 in Shaanxi, China. The main topics of this round of talks are the free exchange of goods and the opening of services and market investment. At the previous talks in November, 2013, the first phase of the negotiation was concluded with agreement on the basic principles of the FTA, such as eliminating of import duties on 90% of the product in terms of quantity and 85% in terms of value. China is currently South Korea’s top trade partner. Since 1992, their trade volume has increased 50 fold, reaching nearly 256 billion USD in 2012.