S. Korea, Australia launch 2nd round of free trade talks

SEOUL, Aug. 31 (Yonhap) -- South Korea and Australia on Monday launched their
second round of free trade negotiations as they exchanged tariff concessions
lists, officials said.
During the negotiations that run through Friday, both sides will discuss key
issues such as tariff concessions, and service and investment, they said.
The two countries held their first round of negotiations in Canberra in May.
Two-way trade reached US$23.2 billion last year with South Korea posting a
deficit of $12.8 billion, government statistics showed.
South Korea exported $5.2 billion of electronic goods and automobiles to
Australia, while importing $18 billion of crude oil, coal, iron ore and meat last
year.
Currently, South Korea has free trade agreements with Chile, Singapore and the
European Free Trade Association, as well as a pact with the Association of
Southeast Asian Nations and India. Seoul is also seeking similar trade deals with
the United States, Canada, and Mexico.
sam@yna.co.kr
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