Home / Knowledge / News / Textiles / China, South Korea complete first-stage FTA talks
China, South Korea complete first-stage FTA talks
11
Sep '13
China and South Korea have completed talks for the proposed Sino-ROK free trade agreement (FTA), at the seventh round of negotiations held in Wei Fang, Shan Dong Province earlier this month, a statement from China’s Ministry of Commerce said.
 
The Sino-ROK FTA talks are to be completed in two stages. In the first stage, the two parties reached consensus on trade in goods, agreements scope, principles, frames and elements of talks of all fields. 
 
The seventh round of negotiations was co-chaired by Yu Jianhua, Deputy International Trade Representative of Chinese Ministry of Commerce, and Woo Tae-hee, South Korea’s Assistant Trade Minister.
 
The second-stage FTA talks will begin with the eighth round of Sino-ROK FTA negotiations to be held in Korea later this year.
 
Negotiations for FTA between China and South Korea began on May 2, 2012, and the sixth round of negotiations was held in July this year in South Korea’s port city of Busan.
 
At the sixth round, both sides came closer to agreement in most modalities (basic guidelines), including the level of liberalization. Both the sides also narrowed different views over services, investment, rules of origins, customs clearance, trade remedy and intellectual property rights.
 
In addition to a FTA, China and South Korea are also seeking a trilateral free trade deal, with the inclusion of Japan.
 
In 2012, South Korea exported textiles and clothing worth US$ 4.9 billion, while it imported textiles and apparel worth US$ 2.9 billion.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 23rd Oct 2021

FDRA urges US govt to remove tariffs causing kids' shoe price spikes

The Footwear Distributors and Retailers of America (FDRA) has sent...

Pic: Sorbis / Shutterstock.com

Fashion | On 23rd Oct 2021

Calvin Klein & Louis Vuitton top 2 trustworthy brands for US customers

Calvin Klein, an iconic American brand that has existed since 1968,...

Pic: Breuninger

E-commerce | On 23rd Oct 2021

Fashion retailer Breuninger to launch e-commerce portal in Poland

After Austria (2017) and Switzerland (2019), fashion company...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search