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China, S. Korea to complete free trade talks by year-end

Published on Jul 3, 2014 8:38 PM
 
South Korean President Park Geun-hye (right) and Chinese President Xi Jinping arrive to hold a press conference at the presidential house in Seoul on July 3, 2014. China and South Korea agreed at summit talks Thursday to seek the early launch of a market to directly trade their currencies and complete free trade negotiations by the end of the year. -- PHOTO: AFP

SEOUL (AFP) - China and South Korea agreed at summit talks Thursday to seek the early launch of a market to directly trade their currencies and complete free trade negotiations by the end of the year.

The agreement was contained in a joint communique endorsed by South Korean President Park Geun-Hye and her Chinese counterpart Xi Jinping at the end of their talks in Seoul.

The two leaders agreed to step up efforts for the completion of negotiations on a "comprehensive" free trade agreement (FTA) by the end of this year, the communique said.

The major Asian economies began FTA negotiations in 2012 but progress has been delayed by differences on the extent of market opening.

 
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