Arab Today, arab today seoul washington to hold talks on fta implementation
Last Updated : GMT 21:25:08
Arab Today, arab today
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Seoul, Washington to hold talks on FTA implementation

Arab Today, arab today

Arab Today, arab today Seoul, Washington to hold talks on FTA implementation

Seoul - Yonhap

South Korea and the United States will hold talks on ways to better implement their bilateral free trade agreement (FTA) in Washington early this week, the trade ministry here said Sunday. The two-day talks to be launched from Monday will be centered on the trades of goods, medicine and medical supplies as well as goods made in the Kaesong Industrial Complex, according to the Ministry of Trade, Industry and Energy. The two countries brought their bilateral FTA into force in March 2012. During the talks, both sides are expected to exchange views on the current situation around the inter-Korean factory zone located in the North Korean border town of Kaesong and whether to consider products made there as originating in the South. The joint factory zone combines South Korean capital and technology with cheap North Korean labor. Home to more than 120 South Korean companies, the industrial complex was shut down in April after the North pulled out its 53,000 workers amid heightened tension on the peninsula. After many negotiations and a five-month hiatus of operations, the two Koreas reached agreement to reopen the industrial complex starting on Sept. 16. South Korean companies, however, say they still face challenges in fully normalizing operations to pre-shutdown levels due to a fall in demand and cash shortages.

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