China South Korea Photo:VCG

The 13th round of the second-phase negotiations on the China-South Korea Free Trade Agreement (FTA) was held in Beijing from Monday to Friday, according to China's Ministry of Commerce. The two sides held in-depth and constructive discussions on implementing the important consensus reached by the two heads of state and accelerating the negotiations, focusing on issues including cross-border trade in services, investment, financial services rules and negative lists, and achieved positive progress.

The FTA entered into force on December 20, 2015. Building on the original agreement, the two countries are seeking a higher level of opening-up in trade in services and investment through the second-phase negotiations, with the aim of upgrading and strengthening bilateral economic and trade cooperation, the ministry said in a statement.

Global Times