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S. Korea, Gulf Nations to Resume FTA Talks after 13-Year Hiatus

Written: 2022-03-27 14:00:21Updated: 2022-03-27 18:17:21

S. Korea, Gulf Nations to Resume FTA Talks after 13-Year Hiatus

Photo : YONHAP News

South Korea and six Middle Eastern countries are set to resume talks for a free trade agreement after a 13-year hiatus.

According to the Ministry of Trade, Industry and Energy on Sunday, the two sides will hold a fourth round of formal FTA talks in Seoul from Monday through Thursday.

The Gulf Cooperation Council (GCC) comprises of six Arab countries - the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.

South Korea and the GCC launched FTA talks in 2007 and held three rounds of official negotiations, but the talks have been stalled since 2009.

However, the two sides agreed to resume the talks when President Moon Jae-in visited Saudi Arabia last year.

In January this year, Minister for Trade Yeo Han-koo and GCC Secretary-General Nayef bin Falah Al-Hajraf announced the resumption of FTA talks in Riyadh.

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