South Korea and Israel will hold a third round of Free Trade Agreement(FTA) negotiation in Seoul on Monday.
During the negotiations that will run through Friday, the two sides will discuss nearly two-dozen trade issues including origin of goods, technical barriers to trade(TBT), sanitary and phytosanitary measures(SPS) and intellectual property rights.
South Korea’s top FTA negotiator, Yeo Han-koo, will spearhead South Korea’s delegation.
According to the ministry, the trade between South Korea and the U.S. reached two-point-14 billion dollars last year, including one-point-275 billion dollars worth of South Korean exports to Israel and 865 million dollars worth of imports to South Korea from Israel.
South Korea’s main export items to Israel are cars, wireless telecommunication devices and synthetic resins, while it imports semiconductor manufacturing devices, applied electronic devices and aircraft and related components from Israel.
The two countries held the first two rounds of working-level negotiations in June and December of last year.