The Korea Herald

피터빈트

Park stresses need for FTAs with emerging nations

By KH디지털2

Published : Jan. 15, 2015 - 13:06

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President Park Geun-hye said Thursday that South Korea should consider striking free trade agreements with new emerging countries to help boost exports.


Park said South Korea and emerging countries in Latin America, the Middle East and Eurasia could negotiate possible free deals that remove tariffs and facilitate trade.


"We should further expand our FTA network," Park said in a meeting at the presidential office, where she received a briefing from economy-related ministries on the 2015 economic policy goals.


Last month, South Korea and Vietnam announced the effective conclusion of a free trade deal meant to boost bilateral trade by removing barriers. Rice, however, was excluded from the agreement.


The deal is the latest in a series of free trade agreements that South Korea has clinched in recent years as part of its efforts to boost growth in the country's export-driven economy.


South Korea has clinched free trade agreements with the United States, China and the European Union.


South Korea's exports represent around 50 percent of its gross domestic product. (Yonhap)