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Korea, China to hold 7th round of FTA negotiations next month

South Korea and China will hold a new round of negotiations for their free trade agreement early next month, the Trade Ministry in Seoul said Monday.

The seventh round of the FTA talks will be held in the Chinese city of Weifang, Shandong Province from Sept. 3-5, the ministry said.

In the upcoming round, Seoul plans to complete issues involving how and at what level commodity and service markets will be deregulated and discussions over the modality of their FTA negotiations.

Seoul and Beijing launched the FTA talks in May last year that are expected to take about two years.

Agriculture and fisheries are considered to be the most sensitive sectors for South Korea, while manufacturing industries, including automobile, machinery and oil sectors, are sensitive to China.

China is South Korea's largest trading partner, with bilateral trade expected to reach $300 billion a year by 2015.

(Yonhap News)



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