South Korea and China will hold the 13th round of follow-up negotiations on services and investment under their Free Trade Agreement (FTA) from Monday through Friday, according to South Korea’s Ministry of Trade, Industry, and Energy.
The ministry stated that around 30 representatives from South Korea and China will take part in the negotiations. Following the agreement reached at the leaders’ summit in Beijing on January 5, both nations aim to advance the follow-up talks this year on the agreement text and market liberalization in three key areas: services, investment, and finance.
According to the government, South Korea intends to conduct official negotiations with China on a regular basis, potentially every two months, bringing together all relevant ministries from both sides to expedite progress.
The talks will aim to establish a solid framework for a free and open environment for trade in services and investment.
The China-South Korea FTA, which came into effect on December 20, 2015, has significantly boosted trade and investment between the two nations. Both countries remain committed to attaining a high degree of liberalization in services trade and investment through the second-phase negotiations.
According to China’s Ministry of Commerce (MOFCOM), the 12th round of these second-phase talks took place in Seoul last year, during which both sides held detailed discussions on cross-border services trade, investment, financial services, and negative list market access, making notable progress.
MOCFOM spokesperson He Yadong stated that during South Korean President Lee Jae‑myung’s visit to Beijing, China’s Commerce Ministry and South Korea’s Trade Ministry signed MoUs to establish the China-South Korea Economic and Trade Cooperation Dialogue Mechanism and deepen collaboration on industrial parks.
He added that China will step up efforts to secure early, substantive progress in the second-phase FTA negotiations.
Furthermore, Lee and Chinese President Xi Jinping agreed to advance trade negotiations within this year during the bilateral summit.
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