South Korea and a group of Arab countries will hold a new round of negotiations on their free trade agreement(FTA) on Tuesday in Saudi Arabia.
The Ministry of Trade, Industry and Energy said that the seventh round of official talks for a bilateral FTA between Korea and the Gulf Cooperation Council(GCC) will be held for a three-day run through Thursday in Riyadh, the capital city of Saudi Arabia.
In the talks, South Korea and the GCC nations – the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait – plan to discuss opening markets, improving the trading environment, trade rules and possible areas of cooperation.
A South Korean FTA negotiator from the ministry said that South Korea is expecting cooperation with the GCC nations in various areas including energy and infrastructure, as the effect of the country's successful summit diplomacy with Saudi Arabia and the United Arab Emirates is spreading across the Middle East.