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.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here