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Trade Ministers of S. Korea, China Agree to Cooperation on FTA

Written: 2016-03-18 12:07:40Updated: 2016-03-18 15:51:02

Trade Ministers of S. Korea, China Agree to Cooperation on FTA

The trade ministers of South Korea and China have discussed ways to better implement the South Korea-China free trade agreement, which took effect in December.

Trade, Industry and Energy Minister Joo Hyung-hwan met his Chinese counterpart Gao Hucheng in Beijing Thursday for the first time since the deal took effect, during which they checked the progress of the FTA's implementation in each country.

According to Seoul's Ministry of Trade, Industry and Energy, Bejing said during the meeting that it will actively reflect Seoul's opinions on the levels of China's antidumping investigations into South Korea’s electrical steels and acrylic fiber products.

China said it will also consider easing antidumping penalties that have already been imposed on South Korea’s bisphenol A and acetone products.

The two sides also agreed to get the ball rolling on talks to discuss services and investment between the two nations.

To faithfully implement agreements already made under the FTA, they also decided to hold working-level meetings between respective committees of the FTA at least once a year.

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