S. Korea plans FTA talks with Europe

S. Korea plans FTA talks with Europe

SEOUL: South Korea and a bloc of four European countries have reached a tentative agreement to launch talks early next year on a bilateral free trade agreement (FTA), the foreign ministry here said on Saturday.

South Korea plans to hold the talks with the European Free Trade Association, a free trade bloc made up of Iceland, Liechtenstein, Norway and Switzerland. The association was launched in 1960.

South Korean officials said a free trade agreement with the group would increase South Korean exports to that region by 26 percent annually and imports by 27 percent. -- AFP