S. Korea, Peru to launch free trade negotiations next week

SEOUL, March 13 (Yonhap) -- South Korea and Peru will hold their first round of free trade talks in Seoul next week, officials here said Friday.

Last November, South Korean President Lee Myung-bak and Peruvian President Alan
Garcia agreed to launch free trade negotiations this year.
The two nations' bilateral trade reached US$1.62 billion in 2008, with South
Korea's exports to the South American country reaching $720 million, according to
the officials.
In April 2003, South Korea signed a free trade agreement with Chile, Seoul's
first free trade partner.
South Korea currently has free trade pacts with Singapore and the European Free
Trade Association (EFTA), comprising Switzerland, Norway, Ireland and
Liechtenstein.
A free trade pact between Korea and the United States was signed in 2007 but
still awaits ratification in the legislatures of both countries.
South Korea also has a free trade agreement with the Association of Southeast
Asian Nations that covers manufactured goods and agricultural products. The
country is also negotiating with the European Union, Canada and Mexico for free
trade pacts.
sam@yna.co.kr
(END)