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Canada, South Korea conclude long-delayed free trade deal

Published on Mar 11, 2014 1:58 PM

OTTAWA (REUTERS) - Canada and South Korea announced on Tuesday they had wrapped up talks on a long-delayed free trade deal which had stalled for years amid squabbles over exports of autos and beef.

The deal - outlined in a statement by Canadian Prime Minister Stephen Harper - is particularly important for Canada, which is trying to cut its reliance on the US market.

The agreement is the first Canada has concluded with a nation from Asia, a fast-growing part of the world that Ottawa is deliberately targeting.

Canada's Trade Ministry says exports to South Korea in 2012 were worth C$3.7 billion (S$4.23 billion) while imports from South Korea hit C$6.4 billion.

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