South Korea has struck a free trade agreement(FTA) with Saudi Arabia, United Arab Emirates(UAE), Kuwait, Qatar, Bahrain and Oman, which form the Gulf Cooperation Council(GCC).

Trade minister Ahn Duk-geun and GCC Secretary-General Jassim Muhammad Al-Budaiwi signed a joint declaration on the conclusion of the bilateral FTA in Seoul on Thursday, a move the government anticipates will strengthen export competitiveness and boost energy security.

The FTA is South Korea's 25th overall and the second with Arab countries, wrapping up negotiations that resumed last year after being suspended for over a decade since launching in 2008.

Under the deal, tariffs will be lifted for 89 percent of South Korea's export items, such as automobiles, car parts and machinery as well as agricultural, livestock and fisheries goods such as beef, ginseng products, dried seaweed and tuna.

Tariffs will be lifted in phases for around 80 percent of imports from the GCC, including natural gas, petroleum products, aluminum, and agricultural, livestock and fisheries items.

The trade ministry plans to push for an official FTA signing next year before seeking ratification by the National Assembly.