The Ministry of Trade, Industry and Energy announced on June 11 that representatives from Korea and the European Union will meet in Seoul between June 12 and 14 to review the implementation of the Korea-EU Free Trade Agreement and discuss further economic cooperation.
Under the Korea-EU FTA, seven specialized committees, seven working groups, and a dialogue are established and supervised by the ministerial-level Trade Committee. During the upcoming session, the Working Group on Pharmaceuticals and Medical Devices, the Working Group on chemicals, the Working Group on Motor Vehicles and Part, and the Committee on Trade in Goods will meet to discuss issues in their respective fields and measures to boost bilateral trade flows and investment.
The meeting will be attended by Director General for Trade Policy Yeo Han-koo of the Ministry of Trade, Industry and Energy, Director for Trade Strategy and Analysis, Market Access Signet Ratso of the European Commission, and other officials from the Korean government and the European Commission.
The Korea-EU FTA, which entered into force nearly six years ago on July 1, 2011, has made a great contribution to the expansion of bilateral trade. The Ministry expects the two sides would resolve trade issues in the meetings and this will help improve market access and accelerate investment by businesses.
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