Seoul, Jun. 24 (ANDINA).- The third round of free trade talks between South Korea and Peru is to be held in Seoul next week, the government said Wednesday.
According to South Korea's foreign ministry, a Peruvian delegation, headed by chief negotiator Nathan Nadramija, will visit Seoul next week for the free trade talks, where related ministries of both sides are to participate in.
During the third round of the talks, the two sides are planning to narrow differences of remaining issues from the previous negotiations, such as economic cooperation in service, investment, energy, minerals and fisheries, the chief negotiator said as quoted by Xinhua news agency.
South Korea and Peru, ever since the two presidents agreed to launch free trade negotiations last November, have worked through reaching a substantial agreement on government procurements, trade subsidies, intellectual property rights, competition policies, and the labor chapter, the foreign ministry added.
The free trade pact between South Korea and Peru, if reached, is expected to boost up bilateral economic ties, as well as provide South Korea with an expanded opportunity to invest in Latin America, according to the ministry.
In 2008, the trade amount of South Korea and Peru topped 1.62 billion U.S. dollars, with South Korea's exports to the country reaching 720 million U.S. dollars.
South Korea reached a free trade agreement with a Chile in 2003, marking the first time to settle a free trade pact with a South American country.
(END) EEP/LVT