BREAKING NEWS

Israel and S. Korea to open free trade negotiations

By JPOST.COM STAFF

DECEMBER 18, 2011 17:02

Israel and South Korea will open negotiations to establish a free trade agreement, Israel Radio reported Sunday.

Industry, Trade and Labor Minister Shalom Simhon announced the opening of negotiations alongside his South Korean counterpart at a World Trade Organization meeting in Geneva. Simhon said the agreement would advance trade and technological cooperation between the parties.

Israel's non-diamond exports to South Korea in the first nine months of 2011 topped $500 million, and its imports in the same period amounted to $1.1 billion.

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