Mexico and South Korea resume negotiations on bilateral trade deal

The negotiations aim to establish an institutional framework to lower barriers of trade in goods and services, and facilitate investment and technology exchange between the two countries. The alliance also seeks to foster cooperation in emerging trade-related areas such as constraints in supply chains, environmental sustainability and digital transformation, according to the statement.

Mexico and South Korea agreed to resume negotiations of a bilateral Free Trade Agreement (FTA) to take trade and economic relationship to a deeper level, according to a statement published on Wednesday by Mexico's Economy Ministry. The negotiations aim to establish an institutional framework to lower barriers of trade in goods and services, and facilitate investment and technology exchange between the two countries.

The alliance also seeks to foster cooperation in emerging trade-related areas such as constraints in supply chains, environmental sustainability and digital transformation, according to the statement. Authorities from the two countries will hold a preliminary meeting in March to prepare the official round of negotiations, which is set to start in the first half of 2022.

South Korea is strengthening its presence in Latin America, as it also started negotiations to access the Pacific Alliance, a trade bloc formed by Chile, Colombia, Mexico and Peru, as an associate state during the first half of the year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)