Korea:FTA with EFTA in July, says MOFAT

In July, Korea and the European Free Trade Association (EFTA) are to sign the final free trade agreement (FTA), according to the Ministry of Foreign Affairs and Trade (MOFAT) Sunday. The agreement came in the second round FTA talks between the two sides, held in Seoul during April 4-8, the ministry said. In the latest talks, the EFTA agreed it will remove tariffs on industrial products and fishery goods immediately after the launch of the FTA with Korea, while Korea promised to implement a comprehensive market opening, excluding such less competitive products as oil and cosmetics. Fourth and final round of talks are slated for July when all key issues are fine tuned in the third round of talks which will be announced shortly.