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Gov't Pushing to Resume FTA Negotiations with Mexico

Written: 2021-11-09 12:58:34Updated: 2021-11-09 13:23:19

Gov't Pushing to Resume FTA Negotiations with Mexico

Photo : YONHAP News

The government is pushing to resume negotiations for a free trade agreement(FTA) with Mexico.

Chun Yoon-jong, head of the trade ministry's FTA negotiations office, said at a meeting with businesses and trade experts in Seoul on Tuesday that the two countries were closely consulting on reopening FTA talks. 

South Korea and Mexico had initially launched dialogue on a strategic economic complementary agreement in 2006, but it was suspended two years later amid opposition from businesses in Mexico.

Not much progress has been made since the leaders of the two countries agreed at a 2016 summit to resume talks.

With Mexico being South Korea's largest trade partner in Latin America and the two sides having mutually complementary trade structures, a bilateral FTA is expected to generate huge economic effects.

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