Korea Trade Association urges early approval of Korea-China FTA

Yonhap News Agency reported that the International Trade Cooperation Committee of the Korea Trade Association will hold the “Second International Trade Cooperation Committee Meeting” at the InterContinental Hotel in Seoul today. At this meeting, the organization will urge the Korean Congress and government to approve the Korea-China free trade as soon as possible. Agreement (FTA) and promote joining the Pacific Rim Economic Partnership (TPP) as soon as possible.
Participants unanimously emphasized that in order to overcome the weakness of South Korea’s exports, restore economic vitality, and ensure a more favorable competitive position in China’s domestic demand market compared with other competing countries, Congress should approve the Korea-China FTA as soon as possible and make it effective as soon as possible. Participants also emphasized that the TPP has more significant economic effects than bilateral FTAs. With the TPP as the center, in order to build supply chains and production networks in the Asia-Pacific region and expand trade and investment, South Korea should also actively study the possibility of joining the TPP.