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China, South Korea agree on free trade deal

  • China and South Korea have agreed to sign a free trade deal with the aim of removing most trade barriers between the two Asian countries, media reports say.

    After over two years of talks, a final agreement has been reached. The pact spans 17 areas, according to Chinese officials.

    China is the biggest trading partner of South Korea. Their bilateral trade rose to $228.9 billion last year. 

    A meeting between South Korea’s President Park Geun-hye and Chinese President Xi Jinping in Beijing finally sealed the deal.

     

    Tagged as: China, South Korea, free trade deal, trade barriers, bilateral trade, South Korea, Park Geun-hye, Xi Jinping, business news