The 8th round of improvement negotiations for the Korea-Chile Free Trade Agreement (FTA) were recently held in Seoul over a period of three days. The negotiations aimed to revise the FTA agreement to reflect newly emerging trade norms and address areas that were not previously included, such as cooperation in energy, minerals, and small and medium-sized enterprises. In the agricultural sector, the focus was on bringing concessions for Chilean agricultural products to the same level as other South American countries that had signed FTAs with Korea.
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Considering the changed trade environment over the past 20 years, the two countries decided to reflect newly emerging trade norms in the FTA agreement. Accordingly, in addition to the product sector, we discussed ways to improve normative areas that were not included in the existing negotiations, such as ▲cooperation in the energy, minerals, and small and medium-sized enterprises sector ▲trade facilitation. In the agricultural sector, the focus was on bringing the level of concessions (tariff reduction/elimination) for Chilean agricultural products, excluding sensitive items, to the same level as that of South American countries such as Peru and Colombia, which signed FTAs with Korea first. Policy Director Ahn said, ...