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S. Korean trade chief to visit Britain, Switzerland for trade meetings

By Yonhap

Published : Feb. 7, 2022 - 09:40

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South Korea's Trade Minister Yeo Han-koo (Ministry of Trade, Industry and Energy) South Korea's Trade Minister Yeo Han-koo (Ministry of Trade, Industry and Energy)
South Korea's Trade Minister Yeo Han-koo will visit London and Geneva this week to explore ways to enhance trade cooperation with Britain and various international organizations, his office said Monday.

During his two-day visit to London beginning Monday, Yeo is scheduled to hold an initial meeting of the South Korea-Britain free trade agreement (FTA) committee with his British counterpart to check the implementation of the bilateral trade pact and plans for negotiations for its possible revision, according to the Ministry of Trade, Industry and Energy.

The two nations kicked off their FTA on Jan. 1, 2021, to maintain the continuity of trade activities in line with London's departure from the European Union.

During the meeting, the two sides will also discuss ways to deepen cooperation on new trade issues, such as supply chains, digital matters and carbon neutrality, the ministry said.

Also on the table will be their joining of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Launched in December 2018, the agreement has been signed by 11 countries, including Japan, Australia, Canada, New Zealand and Mexico.

Britain applied to join the CPTPP, and South Korea is reviewing the option of taking part in the pact.

In London, Yeo is also scheduled to meet the British parliament members and experts, as well as Lim Ki-taek, secretary-general of the International Maritime Organization.

The trade chief will fly to Geneva on Wednesday to meet the director general of the World Trade Organization, Ngozi Okonjo-Iweala, for talks on COVID-19 responses, various reform measures and fisheries subsidies, according to the ministry.

During the two-day stay, he will also hold talks with chiefs of several other international organizations, including the International Organization for Standardization and the United Nations Conference on Trade and Development, it said.

"The visit aims to advance the trade relations between South Korea and Britain, and to help restore the multilateral trade order," the ministry said in a release. (Yonhap)