Free trade talks between Australia and Korea begin
Korean Minister for Trade Kim Jong-hoon is in Australia this week to discuss bilateral trade matters with his Australian counterpart, Simon Crean.
Australia and Korea agreed to begin free trade negotiations when Prime Minister Kevin Rudd visited Korea in March this year.
“We will launch the first round of negotiations for the Australia-Korea Free Trade Agreement,” confirmed Crean. “We will also discuss the importance of bringing the WTO Doha Round to a close and working through the G20 to address the global financial crisis.”
South Korea is an important Australian export market, buying $18.5 billion worth of merchandise in 2008 and consuming services such as education and tourism in high numbers.
“There is great potential to expand further the commercial relationship, including in the services and investment sectors,” said Crean.
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