A new round of discussions on their free trade agreement will take place between South Korea and a group of Arab nations next week, the South Korean Ministry of Commerce announced today, Sunday.
The ministry announced that the sixth round of official negotiations for the Bilateral Free Trade Convention (FTA) between South Korea and the Cooperation Council for the Arab States of the Gulf (GCC) will begin in Seoul on Monday and last for five days. The ministry noted that a number of topics will be discussed at the next meeting, including the trade in goods and services, the country of origin, digital trade, and intellectual property rights.
The Cooperation Council for the Arab States of the Gulf and South Korea agreed to pay to conclude a free trade agreement in 2007 and paid for three rounds of talks between 2008 and 2009, but their negotiations came to an end when the council announced that they would be suspended in 201. The two sides held two related sessions in March and June, respectively.
The volume of trade between the two sides reached $ 46. 6 billion in 2020, according to government data.
Yonhap is the source.
A fresh round of free trade agreement negotiations is being held between South Korea and the Gulf Cooperation Council.
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