South Korea and Israel will launch negotiations for a bilateral free trade agreement later this month in Seoul.

During a regular news briefing in Sejong City on Monday, Deputy Minister for Trade Lee In-ho said that a team of about 40 South Korean officials from the ministries of trade, finance and agriculture and Israeli officials will launch the first round of talks on June 27th.

The two sides will reportedly discuss commodities, service and access to the investment market in the talks. They also plan to discuss technology cooperation in diverse areas.

The deputy minister said he expects the two nations could significantly expand bilateral trade and investment through the deal since their trade structures are mutually complementary in many ways. Lee said that the two sides could expand cooperation particularly in the fields of aerospace and agriculture.