ROK to launch free trade talks with European group in 2005
AFP, Seoul
South Korea and a bloc of four European countries have reached a tentative agreement to launch talks early next year on a bilateral free trade agreement, the foreign ministry here said Saturday. South Korea plans to hold the talks with the European Free Trade Association, a free trade bloc made up of Iceland, Liechtenstein, Norway and Switzerland. The association was launched in 1960. South Korean officials said a free trade agreement with the group would increase South Korean exports to that region by 26 percent annually and imports by 27 percent. South Korea signed its first free trade agreement with Chile last year. It is seeking to conclude similar agreement with Singapore and Japan.
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