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S. Korea, China Hold 5th Meeting of their FTA Joint Commission

Written: 2023-12-04 16:30:18Updated: 2023-12-04 16:38:17

S. Korea, China Hold 5th Meeting of their FTA Joint Commission

Photo : YONHAP News

The trade ministry says South Korea and China discussed on Monday ways to expand economic cooperation during the fifth meeting of their free trade agreement(FTA) joint commission.

According to the ministry, the meeting was held in Beijing with Ahn Duk-geun representing South Korea and International Trade Representative Wang Shouwen representing China. 

The latest meeting saw minister-level officials as chief delegates unlike the four previous meetings in which director-level officials had led delegations. 

During the session the two sides assessed progress made in their FTA as they are set to mark the tenth anniversary of the deal in 2025. They also agreed to work toward improving the trade deal and conduct joint research on ways to respond to issues related to new trade norms. 

In talks held separately between the chief delegates, Ahn and Wang agreed to further revitalize a hotline on supply chains between the commerce ministries of their countries. 

Ahn urged China to take immediate steps with regard to its delay in customs procedures for urea exports to South Korea, stressing that such a delay could negatively affect overall supply chains.

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