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Central and South Korea FTA will conclude in November in Nicaragua

November 1, 2016 by Staff News Writer

On Monday, the Ministry of Economy from Guatemala said that Central America and South Korea agreed to end negotiations for a free trade agreement (FTA) on November 16th in Nicaragua, during the meeting of Ministers and Secretaries in charge of foreign trade of each country.

The Guatemalan Vice Minister of Integration and Foreign Trade, Enrique Lacs, explained that the decision was taken during a meeting in South Korea, where negotiators concluded the chapters of the treaty.

The only pending issues are some technical aspects of the access and origin list that will be defined in the ministerial meeting on November 16th in Managua, Nicaragua, before the official end of the negotiations,”

said Lacs.

Following the conclusion of the negotiations, the document would be subjected to a legal review and translation before the presidential signature to be voted at the congresses of the signatory countries.

The FTA between Central America and South Korea was opened in June 2015, and the first round of negotiations was held from September 21st to 25th this year in Seoul.

In 2014, Central America exported $342 million to South Korea, and imported $ 1,396 million.

crhoy.com

Related articles:

  1. The progress of the FTA with South Korea is influenced by the Industry’s interests
  2. Private sector concerns entangle free trade talks with South Korea
  3. FTA with South Korea is making good progress, according to exporters
  4. Costa Rica is negotiating with South Korea to improve the Internet service
  5. Free Trade Agreement with Korea will benefit Costa Rica
  6. Korea and Costa Rica strengthened their diplomatic relations

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