Vice Minister of Trade, Industry and Energy Woo Tae-hee says that South Korea is ready to conclude a high-level free trade agreement with Mexico.
 
The vice minister on Wednesday revealed the prospect of free trade negotiations while briefing reporters about the results of a bilateral summit between South Korea and Mexico.
 
Woo said that the two nations are well aware of each other’s positions citing FTA negotiations held between 2007 and 2008. On the possibility of establishing the deal within next year, the vice minister called it workable.
 
The vice minister said that the two nation’s decision to resume FTA talks after an eight-years hiatus was the biggest achievement of the summit talks.
 
Woo said he expects the resumption of FTA talks to benefit South Korea’s aim to join the Trans-Pacific Partnership(TPP), a free trade agreement among the U.S. and eleven Pacific Rim countries.
 
In order to join the TPP, South Korea needs to gain the consent of all 12 TPP members, including Mexico, the U.S. and Japan.