China and South Korea made some progress in their latest round of negotiations for a FTA but remain divided over the thorniest matter of how soon and how much they will open their markets for sensitive industries, the Seoul government said Friday.
The Ministry of Trade, Industry and Energy said in a press release, “In the area of products, the two sides somewhat narrowed their difference over China’s early elimination of tariffs on manufactured goods and our opening of the market for agricultural products, which have become the most challenging issue in the Free Trade Agreement negotiations between the two countries”.
Furthermore “However, the negotiations are currently moving slowly as the gap between the two sides continues to remain wide with many other issues also remaining”.
South Korean Trade Minister Yoon Sang-jick had said he expected this week’s round, held in Beijing, could be the last of its kind before the pact is concluded within this year as pledged by the presidents of the two countries.
